Filing Flows › Summit Midstream (SMC) › Q3 2026
Summit Midstream (SMC) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 9, 2026
Summit Midstream (SMC) reported revenue of $183M for the third quarter 2026 (Q3 2026), +25% from a year earlier and +18% from the quarter before. Operating margin was 20.7%, net earnings $8.2M (4.5% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $183M | +18% | +25% |
| Operating profit | $37.9M | +52% | +51% |
| Net earnings | $8.2M | +412% | — |
| Operating cash flow | $5.5M | -87% | -79% |
What changed
Revenue was $183.0M in Q3 2026, up 25% year over year and up 18% from the previous quarter. Natural gas, NGLs and condensate sales was the largest line at 54% of revenue. Natural gas, NGLs and condensate sales added $27.0M year over year (up 38%), 75% of the total change. Other revenues declined 14%.
Operating profit was $37.9M, a 20.7% margin (up 3.6 points year over year). Of the extra revenue versus Q3 2025, 35% reached operating profit, above the 17% margin then. Total costs grew 19% against revenue growth of 25%. The fastest-growing cost line was Cost of revenue (+57%). Net earnings were $8.2M. The effective tax rate was 19.4%.
Operating cash flow was $5.5M (down 79% year over year), 35% of net income including minority interests. Non-cash charges added back $27.2M of depreciation and amortization and $2.3M of share-based compensation. Working capital and other items used $39.9M. Capital expenditures of $21.2M exceeded it, leaving free cash flow of −$15.7M.
Questions
What was Summit Midstream's revenue in the third quarter 2026?
Summit Midstream (SMC) reported revenue of $183M for the third quarter 2026 (Q3 2026), +25% from a year earlier and +18% from the quarter before.
Was Summit Midstream profitable in the third quarter 2026?
Operating profit was $37.9M (20.7% of revenue) and net earnings $8.2M.
Source: Summit Midstream 10-Q on SEC EDGAR.