SM Energy Reports Strong Q3 2025 Performance

SM Energy Company ( (SM) ) has released its Q3 earnings. Here is a breakdown of the information SM Energy Company presented to its investors.

SM Energy Company is an independent energy firm focused on the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids (NGLs) primarily in Texas and Utah. The company is known for its strategic asset portfolio and operational efficiency in the energy sector.

In its third-quarter 2025 financial report, SM Energy Company highlighted a strong production performance, with total production reaching 19.7 million barrels of oil equivalent (MMBoe), marking a 26% increase from the previous year. The company also reported resilient financial results despite a decline in oil prices, maintaining steady cash production margins and improving leverage.

Key financial metrics for the quarter included a net income of $155.1 million, or $1.35 per diluted share, and an adjusted net income of $153.7 million, or $1.33 per diluted share. The company generated $557.5 million in net cash from operating activities and achieved an adjusted EBITDAX of $588.2 million. Capital expenditures were reported at $323.2 million, with a significant portion allocated to acquiring interests in highly economic wells.

SM Energy continued to enhance stockholder returns by distributing $35.1 million through dividends and share repurchases. The company also maintained a strong financial position with a cash balance of $162.3 million and a reaffirmed borrowing base of $3.0 billion, reflecting confidence in its strategic direction.

Looking forward, SM Energy remains focused on delivering long-term value through disciplined capital allocation and operational excellence. The company anticipates continued production growth and aims to maintain its strong financial performance despite market volatility.