Reports Q2 revenue $550.754M, consensus $555.5M. President and Chief Executive Officer Herb Vogel comments: “We put forth three core strategic objectives for 2023: deliver increased return of capital to stockholders; focus on operational execution, including ESG stewardship; and continue to build top-tier inventory. The SM Energy team is exceeding expectations on all fronts. As a result, we recently increased 2023 production guidance and lowered 2023 capital expenditure guidance, and we expect to continue to build inventory in 2023 and grow production by mid-single digits in 2024. SM Energy generated $94.8 million of Adjusted free cash flow(1) in the second quarter and returned 92% to stockholders.”
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