Filing Flows › Summit Midstream (SMC) › Q2 2026 › vs Q1 2026
Summit Midstream (SMC) Q2 2026 vs Q1 2026 (quarter over quarter)
Summit Midstream's revenue rose $15.9M (+11%) from $139M in Q1 2026 to $155M in Q2 2026. The biggest changes: Natural gas, NGLs and condensate sales +$10.5M (+14%); Gathering services and related fees +$3.1M (+5%); Other revenues +$2.3M (+38%). Operating margin 16.1% against 11.7% (+4.4 pts).
Summit Midstream, Q2 2026: revenue $155M (+11% year over year), operating margin 16.1%, net earnings $1.6M, operating cash flow $43.9M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 16.1% | 11.7% | +4.4 pts |
| Net margin | 1.0% | -3.8% | +4.8 pts |
| Free cash flow margin | 12.2% | -8.9% | +21.1 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Natural gas, NGLs and condensate sales | $84.1M | $73.7M | $10.5M | +14% |
| Gathering services and related fees | $62.7M | $59.6M | $3.1M | +5% |
| Other revenues | $8.2M | $5.9M | $2.3M | +38% |
| Revenue | $155M | $139M | $15.9M | +11% |
| Operating profit | $25.0M | $16.3M | $8.6M | +53% |
| Costs & expenses | $130M | $123M | $7.3M | +6% |
| Pre-tax earnings | $5.6M | −$4.2M | $9.8M | — |
| Other expense, net | $19.3M | $20.5M | −$1.2M | -6% |
| Cost of revenue | $49.1M | $39.4M | $9.7M | +25% |
| General & admin | $13.7M | $17.9M | −$4.2M | -23% |
| Other operating costs | $67.3M | $65.5M | $1.7M | +3% |
| Net earnings | $1.6M | −$5.3M | $6.9M | — |
| Minority interests | $3.0M | $2.1M | $829K | +39% |
| Income tax | $1.1M | −$1.0M | $2.1M | — |
| Depreciation & amortization | $26.9M | $26.7M | $143K | +0.5% |
| Share-based compensation | $2.3M | $3.0M | −$738K | -24% |
| Working capital & other | $13.2M | −$17.6M | $30.8M | — |
| Operating cash flow | $43.9M | $6.9M | $37.1M | +539% |
| Free cash flow (OCF − capex) | $18.9M | −$12.4M | $31.3M | — |
| Capital expenditures | $25.0M | $19.3M | $5.7M | +30% |
Questions
How much did Summit Midstream's revenue grow quarter over quarter in Q2 2026?
Summit Midstream's revenue rose $15.9M (+11%) from $139M in Q1 2026 to $155M in Q2 2026.
What drove Summit Midstream's revenue change in Q2 2026?
Natural gas, NGLs and condensate sales +$10.5M (+14%); Gathering services and related fees +$3.1M (+5%); Other revenues +$2.3M (+38%).