Filing Flows › Summit Midstream (SMC) › Q3 2026 › vs Q2 2026
Summit Midstream (SMC) Q3 2026 vs Q2 2026 (quarter over quarter)
Summit Midstream's revenue rose $28.0M (+18%) from $155M in Q2 2026 to $183M in Q3 2026. The biggest changes: Natural gas, NGLs and condensate sales +$14.0M (+17%); Gathering services and related fees +$13.2M (+21%); Other revenues +$824K (+10%). Operating margin 20.7% against 16.1% (+4.6 pts).
Summit Midstream, Q3 2026: revenue $183M (+25% year over year), operating margin 20.7%, net earnings $8.2M, operating cash flow $5.5M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 20.7% | 16.1% | +4.6 pts |
| Net margin | 4.5% | 1.0% | +3.5 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Natural gas, NGLs and condensate sales | $98.1M | $84.1M | $14.0M | +17% |
| Gathering services and related fees | $75.9M | $62.7M | $13.2M | +21% |
| Other revenues | $9.0M | $8.2M | $824K | +10% |
| Revenue | $183M | $155M | $28.0M | +18% |
| Operating profit | $37.9M | $25.0M | $12.9M | +52% |
| Costs & expenses | $145M | $130M | $15.1M | +12% |
| Pre-tax earnings | $19.7M | $5.6M | $14.0M | +249% |
| Other expense, net | $18.2M | $19.3M | −$1.1M | -6% |
| Cost of revenue | $59.7M | $49.1M | $10.6M | +22% |
| General & admin | $16.5M | $13.7M | $2.8M | +20% |
| Other operating costs | $68.9M | $67.3M | $1.6M | +2% |
| Net earnings | $8.2M | $1.6M | $6.6M | +412% |
| Minority interests | $7.6M | $3.0M | $4.7M | +158% |
| Income tax | $3.8M | $1.1M | $2.7M | +257% |
| Operating cash sources | $37.8M | $30.8M | $7.0M | +23% |
| Depreciation & amortization | $27.2M | $26.9M | $373K | +1% |
| Share-based compensation | $2.3M | $2.3M | $6K | +0.3% |
| Working capital & other | $32.2M | −$13.2M | $45.4M | — |
| Operating cash flow | $5.5M | $43.9M | −$38.4M | -87% |
| Capital expenditures | $21.2M | $25.0M | −$3.8M | -15% |
| Negative free cash flow (OCF − capex) | $15.7M | −$18.9M | $34.6M | — |
Questions
How much did Summit Midstream's revenue grow quarter over quarter in Q3 2026?
Summit Midstream's revenue rose $28.0M (+18%) from $155M in Q2 2026 to $183M in Q3 2026.
What drove Summit Midstream's revenue change in Q3 2026?
Natural gas, NGLs and condensate sales +$14.0M (+17%); Gathering services and related fees +$13.2M (+21%); Other revenues +$824K (+10%).