Summit Midstream Corp
For the period ended Dec 31, 2025. Filed Mar 16, 2026.
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FY2025 · Filed Mar 16, 2026
SMC$27.96+3.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations
| Year ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| (In thousands, except per-share amount) | |||
| Revenues: | |||
| Gathering services and related fees | $255,677 | $200,844 | $248,223 |
| Natural gas, NGLs and condensate sales | 265,059 | 195,027 | 179,254 |
| Other revenues | 41,355 | 33,748 | 31,426 |
| Total revenues | 562,091 | 429,619 | 458,903 |
| Costs and expenses: | |||
| Cost of natural gas and NGLs | 149,139 | 114,996 | 112,462 |
| Operation and maintenance | 149,139 | 100,968 | 100,741 |
| General and administrative | 61,018 | 55,562 | 42,135 |
| Depreciation and amortization | 114,159 | 100,647 | 122,764 |
| Transaction costs | 4,900 | 30,956 | 1,251 |
| Acquisition integration costs | 8,143 | 165 | 2,654 |
| (Gain) loss on asset sales, net | 486 | 1 | (260) |
| Long-lived asset impairment | 2,725 | 68,260 | 540 |
| Total costs and expenses | 489,709 | 471,555 | 382,287 |
| Other income, net | 783 | 4,188 | 865 |
| Gain (loss) on interest rate swaps | (1,037) | 4,127 | 1,830 |
| Gain (loss) on sale of business | (582) | 82,187 | (47) |
| Gain on sale of equity method investment | — | 126,261 | — |
| Interest expense | (94,737) | (115,446) | (140,784) |
| Loss on early extinguishment of debt | — | (50,075) | (10,934) |
| Income from equity method investees | 20,784 | 24,197 | 33,829 |
| Income (loss) before income taxes | (2,407) | 33,503 | (38,625) |
| Income tax benefit (expense) | 501 | (146,678) | (322) |
| Net loss | $(1,906) | $(113,175) | $(38,947) |
| Less: Net income attributable to Subsidiary Series A Preferred Units | (14,863) | (14,806) | (12,581) |
| Less: Net income attributable to Series A Preferred Stock | (13,631) | (13,337) | (11,566) |
| Add: Net loss attributable to noncontrolling interest | 10,831 | 5,822 | — |
| Net loss attributable to Summit Midstream Corporation | $(19,569) | $(135,496) | $(63,094) |
| Net loss per share: | |||
| Common stock – basic | $(1.61) | $(12.78) | $(6.11) |
| Common stock – diluted | $(1.61) | $(12.78) | $(6.11) |
| Weighted-average number of shares outstanding: | |||
| Common stock – basic | 12,133 | 10,600 | 10,334 |
| Common stock – diluted | 12,133 | 10,600 | 10,334 |
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