Filing Flows › Summit Midstream (SMC) › Q1 2026 › vs Q1 2025
Summit Midstream (SMC) Q1 2026 vs Q1 2025 (year over year)
Summit Midstream's revenue rose $6.4M (+5%) from $133M in Q1 2025 to $139M in Q1 2026. The biggest changes: Natural gas, NGLs and condensate sales +$14.3M (+24%); Gathering services and related fees −$4.6M (-7%); Other revenues −$3.3M (-36%).
Summit Midstream, Q1 2026: revenue $139M (+5% year over year), operating margin 11.7%, net loss $3.2M, operating cash flow $6.9M. The chart draws each line against Q1 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Natural gas, NGLs and condensate sales | $73.7M | $59.3M | $14.3M | +24% |
| Gathering services and related fees | $59.6M | $64.2M | −$4.6M | -7% |
| Other revenues | $5.9M | $9.2M | −$3.3M | -36% |
| Revenue | $139M | $133M | $6.4M | +5% |
| Income tax benefit | $1.0M | −$296K | $1.3M | — |
| Net loss | $3.2M | −$4.6M | $7.8M | — |
| Costs & expenses | $143M | $133M | $10.6M | +8% |
| Operating costs | $123M | $118M | $4.7M | +4% |
| Interest & other, net | $20.5M | $9.6M | $10.9M | +113% |
| Cost of revenue | $39.4M | $35.4M | $3.9M | +11% |
| General & admin | $17.9M | $16.6M | $1.3M | +8% |
| Other operating costs | $65.5M | $66.1M | −$535K | -0.8% |
| Operating cash sources | $29.7M | $30.9M | −$1.1M | -4% |
| Depreciation & amortization | $26.7M | $28.5M | −$1.8M | -6% |
| Share-based compensation | $3.0M | $2.4M | $661K | +28% |
| Net loss absorbed | $3.2M | −$4.6M | $7.8M | — |
| Working capital & other | $19.7M | $19.5M | $212K | +1% |
| Operating cash flow | $6.9M | $16.0M | −$9.2M | -57% |
| Capital expenditures | $19.3M | $20.6M | −$1.3M | -6% |
| Negative free cash flow (OCF − capex) | $12.4M | $4.6M | $7.8M | +171% |
Questions
How much did Summit Midstream's revenue grow year over year in Q1 2026?
Summit Midstream's revenue rose $6.4M (+5%) from $133M in Q1 2025 to $139M in Q1 2026.
What drove Summit Midstream's revenue change in Q1 2026?
Natural gas, NGLs and condensate sales +$14.3M (+24%); Gathering services and related fees −$4.6M (-7%); Other revenues −$3.3M (-36%).