SM Energy reports Q4 adjusted EPS $1.56, consensus $1.38

Reports Q4 revenue $608.7M, consensus $608.66M. CEO Herb Vogel comments: “In 2023, we delivered excellent financial and operating results, grew our Midland Basin footprint by 37%, increased net proved reserves to a record 605 MMBoe, reduced net debt by 15%, announced an increase in our sustainable dividend and returned $300 million to stockholders. We achieved this with industry leading safety metrics, our top priority. We are exceptionally well positioned as we enter 2024, and we have set forth a plan that we expect will combine our low breakeven cost portfolio and differential technical capabilities to deliver optimized operational performance, inventory growth and an attractive return of capital to our stockholders. 2023 results exceeded expectations and the 2024 outlook supports another great year.”