SM Energy (SM) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

SM Energy (SM) reported $2.5 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 215.3%. EPS of $2.19 for the same period compares to $1.50 a year ago.

The reported revenue represents a surprise of +24.54% over the Zacks Consensus Estimate of $2.01 billion. With the consensus EPS estimate being $1.93, the EPS surprise was +13.47%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

• Average net daily production - Gas: 953.7 millions of cubic feet per day compared to the 890.79 millions of cubic feet per day average estimate based on five analysts.
• Average net daily production - Equivalent: 439.7 millions of barrels of oil equivalent per day versus 444.94 millions of barrels of oil equivalent per day estimated by five analysts on average.
• Average net daily production - Oil: 229.8 millions of barrels of oil per day versus the five-analyst average estimate of 234.21 millions of barrels of oil per day.
• Average net daily production - NGLs: 51 millions of barrels of oil per day versus 60.08 millions of barrels of oil per day estimated by four analysts on average.
• Realized sales price (including the effect of net derivative settlements) - Oil: $96.85 compared to the $79.09 average estimate based on two analysts.
• Realized sales price (including the effect of net derivative settlements) - Gas: $1.54 versus the two-analyst average estimate of $2.16.
• Net production volumes - NGLs: 4.60 MBBL compared to the 4.80 MBBL average estimate based on two analysts.
• Realized sales price (before the effect of net derivative settlements) - NGLs: $24.69 versus the two-analyst average estimate of $25.58.
• Realized sales price (before the effect of net derivative settlements) - Gas: $0.17 versus the two-analyst average estimate of $-0.39.
• Net production volumes - Oil: 20.90 MBBL versus 21.22 MBBL estimated by two analysts on average.
• Realized sales price (before the effect of net derivative settlements) - Oil: $96.85 compared to the $94.01 average estimate based on two analysts.
• Operating revenues and other income- Oil, gas, and NGL production revenue: $2.16 billion compared to the $2.03 billion average estimate based on two analysts. The reported number represents a change of +174.6% year over year.

View all Key Company Metrics for SM Energy here>>>

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