Summit Midstream Corp (SMC) financial statements: income statement, balance sheet and cash flow
Summit Midstream Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Summit Midstream Corp reported revenue of $562.1M (+30.8% year on year) and net income of ($19.6M) (+84.0% year on year).
Income statement
Summit Midstream Corp income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Total revenues
$562.1M
$429.6M
Cost of natural gas and NGLs
$149.1M
$115.0M
Operation and maintenance
$149.1M
$101.0M
General and administrative
$61.0M
$55.6M
Depreciation and amortization
$114.2M
$100.6M
Transaction costs
$4.9M
$31.0M
Acquisition integration costs
$8.1M
$165.0K
(Gain) loss on asset sales, net
$486.0K
$1.0K
Long-lived asset impairment
$2.7M
$68.3M
Total costs and expenses
$489.7M
$471.6M
Other income, net
$783.0K
$4.2M
Gain (loss) on interest rate swaps
($1.0M)
$4.1M
Gain (loss) on sale of business
($582.0K)
$82.2M
Gain on sale of equity method investment
$0
$126.3M
Interest expense
($94.7M)
($115.4M)
Loss on early extinguishment of debt
$0
($50.1M)
Income from equity method investees
$20.8M
$24.2M
Income (loss) before income taxes
($2.4M)
$33.5M
Income tax benefit (expense)
$501.0K
($146.7M)
Net loss
($1.9M)
($113.2M)
Less: Net income attributable to Subsidiary Series A Preferred Units
($14.9M)
($14.8M)
Less: Net income attributable to Series A Preferred Stock
($13.6M)
($13.3M)
Add: Net loss attributable to noncontrolling interest
$10.8M
$5.8M
Net loss attributable to Summit Midstream Corporation
($19.6M)
($122.2M)
Common stock - basic (in dollars per share)
-$1.61
-$12.78
Common stock - diluted (in dollars per share)
-$1.61
-$12.78
Common stock - basic (in shares)
12.1M
10.6M
Common stock - diluted (shares)
12.1M
10.6M
Summit Midstream Corp income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Total revenues
$155.0M
$139.1M
$146.9M
$140.2M
Cost of natural gas and NGLs
$49.1M
$39.4M
$38.1M
$35.9M
Operation and maintenance
$39.8M
$38.2M
$38.4M
$39.2M
General and administrative
$13.7M
$17.9M
$13.2M
$15.5M
Depreciation and amortization
$26.9M
$26.7M
$28.9M
$30.1M
Transaction costs
$19.0K
$222.0K
$1.4M
$1.1M
Acquisition integration costs
$608.0K
$373.0K
$1.7M
$4.2M
Gain (loss) on asset sales, net
($26.0K)
$29.0K
$120.0K
$0
Long-lived asset impairments
$0
—
$0
$71.0K
Total costs and expenses
$130.0M
$122.8M
$121.7M
$126.0M
Other income (expense), net
$1.3M
($590.0K)
($575.0K)
$378.0K
Gain (loss) on interest rate swaps
$947.0K
($150.0K)
$131.0K
($500.0K)
Loss on sale of business
$0
$0
($539.0K)
$0
Interest expense
($27.4M)
$25.0M
($24.2M)
($23.9M)
Income from equity method investees
$5.8M
$5.2M
$5.5M
$4.8M
Income (loss) before income taxes
$5.6M
($4.2M)
$5.5M
($5.0M)
Income tax benefit (expense)
($1.1M)
$1.0M
($537.0K)
$752.0K
Net income (loss)
$4.6M
($3.2M)
$5.0M
($4.2M)
Less: Net income attributable to Subsidiary Series A Preferred Units
$0
($1.9M)
($3.8M)
($3.7M)
Less: Net income attributable to Series A Preferred Stock
($1.9M)
($3.1M)
($3.4M)
($3.1M)
Add: Net (income) loss attributable to noncontrolling interest in SMLP
($1.1M)
$2.9M
$556.0K
$3.0M
Net income (loss) attributable to Summit Midstream Corporation
$1.6M
($5.3M)
($1.6M)
($8.0M)
Common stock – basic (in dollars per share)
$0.12
-$0.43
-$0.13
-$0.66
Common stock – diluted (in dollars per share)
$0.11
-$0.43
-$0.13
-$0.66
Common stock – basic (in shares)
13.8M
12.3M
12.3M
12.2M
Common stock – diluted (in shares)
14.0M
12.3M
12.3M
12.2M
Balance sheet
Summit Midstream Corp balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Cash and cash equivalents
$9.3M
$22.8M
Restricted cash
$10.4M
$2.4M
Accounts receivable
$69.8M
$77.1M
Other current assets
$7.5M
$16.0M
Total current assets
$96.9M
$118.3M
Property, plant and equipment, net
$1.8B
$1.8B
Intangible assets, net
$153.6M
$154.3M
Investment in equity method investees
$265.6M
$269.6M
Other noncurrent assets
$27.4M
$32.3M
Total assets
$2.4B
$2.4B
Trade accounts payable
$31.7M
$25.2M
Accrued expenses
$24.3M
$38.2M
Deferred revenue
$10.1M
$9.6M
Ad valorem taxes payable
$10.2M
$9.5M
Accrued compensation and employee benefits
$12.1M
$11.2M
Accrued interest
$30.0M
$21.7M
Accrued environmental remediation
$1.7M
$1.4M
Accrued settlement payable
$8.3M
$6.7M
Current portion of long-term debt
$21.2M
$16.6M
Other current liabilities
$27.2M
$34.7M
Total current liabilities
$176.8M
$174.8M
Deferred tax liabilities, net
$73.6M
$63.3M
Long-term debt, net
$1.0B
$977.0M
Noncurrent deferred revenue
$18.4M
$25.4M
Noncurrent accrued environmental remediation
$52.0K
$768.0K
Other noncurrent liabilities
$6.5M
$20.1M
Total liabilities
$1.3B
$1.3B
Subsidiary Series A Preferred Units (93,039 issued and outstanding as of December 31, 2025 and December 31, 2024)
$141.3M
$132.9M
Series A Preferred Stock (65,508 shares authorized, issued and outstanding as of December 31, 2025 and December 31, 2024)
110.5M
110.2M
Common stock, value issued
$187.0K
$181.0K
Additional paid-in capital
$638.4M
$540.7M
Accumulated deficit
($202.9M)
($183.3M)
Total Company stockholders’ equity
$546.2M
$467.8M
Noncontrolling interest
$400.4M
$497.3M
Total equity
$946.6M
$965.1M
TOTAL LIABILITIES AND EQUITY
$2.4B
$2.4B
Summit Midstream Corp balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$21.0M
$43.4M
$24.6M
$20.9M
Restricted cash
$10.8M
$6.1M
$3.8M
$4.6M
Accounts receivable
$87.2M
$74.2M
$80.1M
$84.6M
Other current assets
$5.5M
$6.3M
$3.6M
$6.0M
Total current assets
$124.5M
$130.0M
$112.2M
$116.1M
Property, plant and equipment, net
$1.8B
$1.8B
$1.9B
$1.9B
Intangible assets, net
$149.5M
$150.9M
$156.9M
$160.0M
Investment in Double E
$267.6M
$263.2M
$267.5M
$268.3M
Other noncurrent assets
$26.5M
$25.9M
$26.6M
$25.5M
TOTAL ASSETS
$2.4B
$2.4B
$2.4B
$2.4B
Trade accounts payable
$21.4M
$27.6M
$36.3M
$30.9M
Accrued expenses
$43.1M
$36.1M
$25.9M
$29.9M
Deferred revenue
$8.0M
$9.1M
$8.9M
$9.8M
Ad valorem taxes payable
$7.2M
$5.0M
$11.4M
$9.0M
Accrued compensation and employee benefits
$7.3M
$4.2M
$7.2M
$6.7M
Accrued interest
$27.7M
$9.9M
$9.5M
$27.0M
Accrued environmental remediation
$1.4M
$1.6M
$1.8M
$1.7M
Accrued settlement payable
$8.3M
$8.3M
$10.3M
$6.7M
Current portion of long-term debt
$1.7M
$850.0K
$16.9M
$16.8M
Other current liabilities
$5.7M
$5.5M
$19.5M
$19.0M
Total current liabilities
$131.9M
$108.2M
$147.4M
$157.4M
Deferred tax liabilities, net
$92.5M
$91.4M
$76.3M
$75.1M
Long-term debt, net
$1.2B
$1.3B
$1.1B
$1.1B
Noncurrent deferred revenue
$17.8M
$17.6M
$19.5M
$22.2M
Noncurrent accrued environmental remediation
$52.0K
$52.0K
$203.0K
$387.0K
Other noncurrent liabilities
$8.3M
$9.3M
$7.9M
$13.4M
TOTAL LIABILITIES
$1.5B
$1.5B
$1.3B
$1.3B
Subsidiary Series A Preferred Units (nil and 93,039 units issued and outstanding as of June 30, 2026 and December 31, 2025, respectively)
$0
$0
$139.1M
$137.0M
Series A Preferred Stock (65,508 shares authorized, issued and outstanding as of June 30, 2026 and December 31, 2025)
64.2M
64.2M
110.5M
110.5M
Common stock, par value (in dollars per shares)
$0.02
—
—
—
Common stock, shares authorized (in shares)
49.5M
—
—
—
Common stock, value issued
$201.0K
$201.0K
$187.0K
$187.0K
Additional paid-in capital
$740.6M
$739.6M
$636.0M
$634.5M
Accumulated deficit
($206.6M)
($208.2M)
($194.8M)
($193.2M)
Total Company stockholders’ equity
$598.4M
$595.8M
$551.9M
$552.0M
Noncontrolling interest
$320.5M
$319.2M
$406.1M
$407.1M
Total Equity
$918.9M
$915.0M
$957.9M
$959.0M
TOTAL LIABILITIES AND EQUITY
$2.4B
$2.4B
$2.4B
$2.4B
Cash flow statement
Summit Midstream Corp cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Net loss
($1.9M)
($113.2M)
Deferred income taxes
($699.0K)
$146.8M
Depreciation and amortization
$115.1M
$101.6M
Noncash lease expense
$5.8M
$1.7M
Amortization of debt issuance costs
$4.0M
$11.4M
Equity compensation
$7.8M
$8.6M
Income from equity method investees
($20.8M)
($24.2M)
Distributions from equity method investees
$28.6M
$36.2M
(Gain) loss on asset sales, net
$486.0K
$1.0K
Foreign currency (gain) loss
$0
$42.0K
(Gain) loss on earn-out remeasurement
$192.0K
($6.0K)
Loss on early extinguishment of debt
$0
$50.1M
(Gain) loss on sale of business
$582.0K
($82.2M)
Gain on sale of equity method investment
$0
($126.3M)
Unrealized loss on interest rate swaps
$4.4M
$914.0K
Long-lived asset impairment
$2.7M
$68.3M
Accounts receivable
$9.9M
$3.0M
Trade accounts payable
$5.5M
$1.1M
Accrued expenses
($15.1M)
($625.0K)
Deferred revenue
($6.4M)
($5.1M)
Ad valorem taxes payable
$646.0K
$1.0M
Accrued interest
$8.3M
$2.4M
Accrued environmental remediation, net
($435.0K)
($739.0K)
Other, net
($15.2M)
($19.1M)
Net cash provided by operating activities
$133.6M
$61.8M
Capital expenditures
($89.0M)
($53.6M)
Cash consideration paid for the acquisition, net of cash acquired
($70.0M)
($154.2M)
Investment in Double E equity method investee
($3.8M)
($3.9M)
Proceeds from Utica Sale (excluding Ohio Gathering)
$0
$292.3M
Proceeds from sale of Ohio Gathering
$0
$332.7M
Proceeds from Mountaineer Transaction
$0
$69.3M
Proceeds from asset sale
$0
$4.4M
Other, net
($295.0K)
$0
Net cash provided by (used in) investing activities
($163.2M)
$487.1M
Issuance of Additional 2029 Secured Notes
$258.4M
$565.8M
Borrowings on Amended and Restated ABL Facility
$133.0M
$305.0M
Debt repayments - Amended and Restated ABL Facility
($325.0M)
($313.0M)
Debt repayments
($12.3M)
($850.3M)
Distribution on Series A Preferred Shares
-13.4M
-6.5M
Distributions on Subsidiary Series A Preferred Units
($6.5M)
—
Debt repayments - Redemption of 2026 Unsecured Notes