Filing Flows › Summit Midstream (SMC) › Q4 2024
Summit Midstream (SMC) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Mar 11, 2025
Summit Midstream (SMC) reported revenue of $107M for the fourth quarter 2024 (Q4 2024), -16% from a year earlier and +4% from the quarter before. Operating margin was -5.4%, net loss $24.8M (23.2% of revenue).
Summit Midstream, Q4 2024: revenue $107M (-16% year over year), operating margin -5.4%, net loss $24.8M, operating cash flow $21.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $107M | +4% | -16% |
| Operating profit | −$5.7M | — | — |
| Net earnings | −$24.8M | — | — |
| Operating cash flow | $21.6M | +137% | +34% |
| Free cash flow | $5.9M | — | — |
What changed
Revenue was $107.0M in Q4 2024, down 16% year over year and up 4% from the previous quarter. Natural gas, NGLs and condensate sales was the largest line at 46% of revenue.
Operating costs exceeded revenue by $5.7M, an operating margin of -5.4%. Total costs grew 10% against a revenue fall of 16%. The fastest-growing cost line was General & admin (+39%). The quarter ended with a net loss of $24.8M, narrower than the previous quarter's $197.5M loss. Minority interests bore $2.7M of it: to shareholders the quarter was a loss of $22.1M. Net interest and other expense of $14.5M was the main reason.
Operating cash flow was $21.6M (up 34% year over year). Non-cash charges added back $25.3M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items added $19.2M. Capital expenditures of $15.8M left free cash flow of $5.9M.
Questions
What was Summit Midstream's revenue in the fourth quarter 2024?
Summit Midstream (SMC) reported revenue of $107M for the fourth quarter 2024 (Q4 2024), -16% from a year earlier and +4% from the quarter before.
Was Summit Midstream profitable in the fourth quarter 2024?
Operating loss was $5.7M (-5.4% of revenue) and net loss $24.8M.
Source: Summit Midstream 10-K on SEC EDGAR.