Summit Midstream Corporation (SMC) Income Statement
SMC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSMC revenue and net income
Where SMC's revenue goes
2025Each bar shows an amount and its share of revenue. SMC kept −0.3% of revenue as net income.
SMC profit margins
SMC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +30.8% | +15.0% | +7.9% | — |
| Gross profit | +32.4% | +18.7% | +1.0% | — |
| Operating income | +54.3% | +25.7% | +5.1% | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SMC quarterly EPS vs estimates
Summit Midstream beat the analyst EPS estimate in 2 of the last 2 quarters. Next report: November 9, 2026 (estimate $0.34).
SMC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $562.1M | $429.6M | $458.9M | $369.6M | $401.6M | $383.5M | $444.7M |
| Cost of revenue | $412.4M | $316.6M | $336.0M | $280.0M | $156.1M | $240.8M | $162.2M |
| Gross profit | $149.7M | $113.0M | $122.9M | $89.6M | $245.4M | $142.7M | $282.6M |
| Sales, general & admin | $61.0M | $55.6M | $42.1M | $44.9M | $59.2M | $73.4M | $51.0M |
| Total operating expenses | $61.0M | $55.6M | $42.1M | $44.9M | $59.2M | $73.4M | $583.1M |
| Operating income | $88.6M | $57.4M | $80.8M | $44.6M | $186.2M | $69.2M | $120.0M |
| Interest income | $95.8M | $14.9M | $139.0M | $86.0M | — | — | — |
| Interest expense | $94.7M | $115.4M | $140.8M | $102.5M | $66.2M | $78.9M | $92.0M |
| Income before taxes | −$2.4M | $33.5M | −$38.6M | −$141.3M | −$19.6M | $188.9M | −$392.5M |
| Income taxes | −$501,000 | $146.7M | $322,000 | $325,000 | $326,999 | −$146,000 | $1.2M |
| Net income | −$1.9M | −$113.2M | −$38.9M | −$123.5M | −$19.9M | $192.4M | −$213.0M |
| EBITDA | $207.4M | $250.5M | $225.9M | $81.2M | $187.2M | $375.6M | $231.6M |
| EPS (diluted) | −$1.17 | −$13.62 | −$6.12 | −$12.52 | −$6.38 | $31.60 | −$4.61 |
| Gross margin | 26.6% | 26.3% | 26.8% | 24.2% | 61.1% | 37.2% | 63.5% |
| Operating margin | 15.8% | 13.4% | 17.6% | 12.1% | 46.4% | 18.1% | 27.0% |
| Net margin | −0.3% | −26.3% | −8.5% | −33.4% | −5.0% | 50.2% | −47.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $155.0M | $139.1M | $142.3M | $146.9M | $140.2M | $132.7M | $107.0M | $102.4M | $101.3M | $118.9M | $127.3M | $121.2M |
| Cost of revenue | $88.9M | $104.3M | $104.4M | $39.8M | $105.2M | $97.5M | $80.3M | $76.3M | $77.0M | $83.1M | $92.0M | $84.0M |
| Gross profit | $66.1M | $34.8M | $37.9M | $107.1M | $35.0M | $35.2M | $26.7M | $26.2M | $24.3M | $35.8M | $35.3M | $37.1M |
| Sales, general & admin | $13.7M | $17.9M | $15.7M | $13.2M | $15.5M | $16.6M | $14.2M | $12.4M | $14.2M | $14.8M | $10.2M | $11.1M |
| Total operating expenses | $41.1M | $17.9M | $15.7M | $81.9M | $15.5M | $16.6M | $14.2M | $12.4M | $14.2M | $14.8M | $10.2M | $11.1M |
| Operating income | $25.0M | $17.0M | $22.2M | $25.2M | $19.5M | $18.6M | $12.5M | $13.7M | $10.2M | $21.0M | $25.1M | $26.0M |
| Interest income | — | — | $23.8M | $24.1M | $24.4M | $23.5M | $17.2M | $28.3M | — | — | — | — |
| Interest expense | $27.4M | $25.0M | $24.1M | $24.2M | $23.9M | $22.5M | $20.4M | $25.7M | $31.5M | $37.8M | $36.8M | $34.6M |
| Income before taxes | $5.6M | −$4.2M | −$7.9M | $5.5M | −$5.0M | $4.9M | −$20.2M | −$55.0M | −$24.4M | $133.1M | −$26.1M | $3.9M |
| Income taxes | $1.1M | −$1.0M | −$582,000 | $537,000 | −$752,000 | $296,000 | $4.5M | $142.6M | −$654,000 | $210,000 | $502,000 | $72,000 |
| Net income | $3.5M | −$252,000 | −$11.8M | $5.6M | −$1.2M | $5.6M | −$24.8M | −$197.5M | −$23.8M | $132.9M | −$15.1M | $3.9M |
| EBITDA | $60.1M | $47.8M | $43.2M | $58.8M | $49.2M | $56.2M | $25.8M | −$5.5M | $31.2M | $199.1M | $42.9M | $59.3M |
| EPS (diluted) | $0.11 | $0.15 | $0.41 | −$0.13 | −$1.21 | −$0.24 | −$2.94 | −$19.25 | −$2.91 | $11.47 | −$2.12 | −$0.27 |
| Gross margin | 42.6% | 25.0% | 26.6% | 72.9% | 25.0% | 26.5% | 25.0% | 25.5% | 24.0% | 30.1% | 27.8% | 30.6% |
| Operating margin | 16.1% | 12.2% | 15.6% | 17.1% | 13.9% | 14.0% | 11.7% | 13.4% | 10.0% | 17.7% | 19.7% | 21.5% |
| Net margin | 2.2% | −0.2% | −8.3% | 3.8% | −0.9% | 4.2% | −23.2% | −192.9% | −23.5% | 111.8% | −11.9% | 3.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SMC's financial statements (latest annual report filed March 16, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SMC financial results
In fiscal year 2025 (ended December 31, 2025), Summit Midstream reported revenue of $562.1 million, up 30.8% from the year before. It had a net loss of $1.9 million, a net profit margin of −0.3%. Diluted earnings per share came to −$1.17. Over five years revenue grew at an average rate of 7.9% a year.
See the SMC stock overview for the latest quote and news, or the SMC chart for price history and technical indicators.
SMC income statement FAQ
What is Summit Midstream's annual revenue?
Summit Midstream reported total revenue of $562.1 million for fiscal year 2025, which ended on December 31, 2025. That was up 30.8% from $429.6 million the previous year.
Is Summit Midstream profitable?
No. Summit Midstream reported a net loss of $1.9 million in fiscal 2025, a net profit margin of −0.3%; its operating margin was 15.8%.
What is Summit Midstream's gross margin?
Summit Midstream's gross margin was 26.6% in fiscal 2025: for every $100 of revenue, Summit Midstream kept $27 after the direct cost of its products and services.
How fast is Summit Midstream growing?
Revenue grew 7.9% a year on average over the last five fiscal years, from $383.5 million to $562.1 million.
What are Summit Midstream's earnings per share?
Summit Midstream earned $-1.17 per diluted share in fiscal 2025, compared with $-13.62 a year earlier.
When will Summit Midstream report its next earnings?
Summit Midstream is expected to report results for the quarter ending September 30, 2026 on November 9, 2026 after the market closes.
When does Summit Midstream's fiscal year end?
Summit Midstream's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 16, 2026.