Filing Flows › Summit Midstream (SMC) › How it makes money
How Summit Midstream (SMC) makes money
Summit Midstream (SMC) made $155M of revenue in the second quarter 2026 (Q2 2026), +11% from a year earlier. Natural gas, NGLs and condensate sales brought in $84.1M (54%); Gathering services and related fees brought in $62.7M (40%); Other revenues brought in $8.2M (5%). Of every dollar of revenue, 16¢ was left as operating profit, 1¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q2 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Natural gas, NGLs and condensate sales | $84.1M | 54.3% | +14% | +27% |
| Gathering services and related fees | $62.7M | 40.4% | +5% | -2% |
| Other revenues | $8.2M | 5.3% | +38% | -15% |
Where each dollar of revenue goes
| Line | Q2 2026 | % of revenue |
|---|---|---|
| Revenue | $155M | 100.0% |
| Operating profit | $25.0M | 16.1% |
| Income tax | $1.1M | 0.7% |
| Net earnings | $1.6M | 1.0% |
| Operating cash flow | $43.9M | 28.3% |
| Free cash flow | $18.9M | 12.2% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 2026 | $155M | +11% |
| Q1 2026 | $139M | +5% |
| Q4 2025 | $142M | +33% |
| Q3 2025 | $147M | +43% |
| Q2 2025 | $140M | +38% |
| Q1 2025 | $133M | +12% |
| Q4 2024 | $107M | -16% |
From Summit Midstream's 10-Q filed Aug 10, 2026 (on EDGAR).
Questions
How does Summit Midstream make money?
Summit Midstream (SMC) made $155M of revenue in the second quarter 2026 (Q2 2026), +11% from a year earlier. Natural gas, NGLs and condensate sales brought in $84.1M (54%); Gathering services and related fees brought in $62.7M (40%); Other revenues brought in $8.2M (5%). Of every dollar of revenue, 16¢ was left as operating profit, 1¢ was left as net earnings.
What is Summit Midstream's biggest business?
Natural gas, NGLs and condensate sales: $84.1M in the second quarter 2026, 54% of revenue, +27% from a year earlier.
What is Summit Midstream's profit margin?
Net earnings were $1.6M, 1.0% of revenue, in the second quarter 2026; the operating margin was 16.1%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.