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Summit Midstream (SMC) guidance and outlook

Summit Midstream (SMC) raised its guidance on Nov 9, 2026: EBITDA $250M–$260M for FY2026; Capital expenditures $100M–$120M for FY2026. Summit Midstream's 10-Q filed Nov 9, 2026 makes 19 forward-looking statements.

Guidance and outlook

Latest guidance

From the earnings release filed Nov 9, 2026 (8-K on EDGAR).

Forward-looking statements, 10-Q filed Nov 9, 2026

• This Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) is intended to inform the reader about matters affecting the financial condition and results of operations of the Company and its subsidiaries for the periods since December 31, 2025.
• If certain of our customers cancel or delay drilling and/or completion activities or temporarily shut-in production, the associated MVCs, if any, ensure that we will earn a minimum amount of revenue.
• Our business has been, and we expect our future business to continue to be, affected by the following key trends:
• To the extent our underlying assumptions about, or interpretations of, available information prove to be incorrect, our actual results may vary materially from our expected results.
• We intend to continue to improve our capital structure in the future by reducing our indebtedness with free cash flow, and when appropriate, we may pursue opportunistic transactions with the objective of increasing long-term shareholder value.
• We believe that our current cash balance, internally generated cash flow, our Amended and Restated ABL Facility, the First Amended New Permian Transmission Facility, and access to debt or equity capital markets will be adequate to finance our strategic initiatives.
• Over the long term, we believe that the prospects for continued natural gas demand are favorable and will be driven primarily by global population and economic growth, as well as the continued displacement of coal-fired electricity generation by natural gas-fired electricity generation and an increase in U.S.
• years, we expect natural gas prices will support continued upstream industry activity by producers focused on natural gas production.
• Over the next several years, we expect that crude oil prices will support continued drilling activity and increasing production in the Williston Basin, Permian Basin, and given the current regulatory environment in Colorado, in rural parts of the DJ Basin where we operate.
• In general, we expect our producer customers to maintain moderate completion and production activities across many of our systems relative to our previous expectations as a result of the commodity price environment and a continuation of the general trend of producers constraining drilling and completion activity to levels that can be satisfied with internally generated cash flow.
• While inflation has declined since the second half of 2022, further increases in inflation could increase our operating costs and the overall cost of capital projects we undertake.
• We believe that our Amended and Restated ABL Facility and First Amended New Permian Transmission Facility, together with internally generated cash flows, current cash balance and access to debt or equity capital markets, will be adequate to finance our operations for the next twelve months, and based on current expectations, the long-term, without adversely impacting our liquidity.

Summit Midstream's latest quarter

Questions

Did Summit Midstream raise or lower its guidance?

Summit Midstream (SMC) raised its guidance on Nov 9, 2026: EBITDA $250M–$260M for FY2026; Capital expenditures $100M–$120M for FY2026.

What does Summit Midstream expect?

This Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) is intended to inform the reader about matters affecting the financial condition and results of operations of the Company and its subsidiaries for the periods since December 31, 2025. If certain of our customers cancel or delay drilling and/or completion activities or temporarily shut-in production, the associated MVCs, if any, ensure that we will earn a minimum amount of revenue. Our business has been, and we expect our future business to continue to be, affected by the following key trends:

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Updated Nov 10, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.