See more : VITA 34 AG (V3V.DE) Income Statement Analysis – Financial Results
Complete financial analysis of Summit Midstream Partners, LP (SMLP) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Summit Midstream Partners, LP, a leading company in the Oil & Gas Midstream industry within the Energy sector.
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Summit Midstream Partners, LP (SMLP)
About Summit Midstream Partners, LP
Summit Midstream Partners, LP focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. The company provides natural gas gathering, compression, treating, and processing services, as well as crude oil and produced water gathering services. Its unconventional resource basins include the Utica and Point Pleasant shale formations in southeastern Ohio; the Williston Basin that consists of the Bakken and Three Forks shale formations in northwestern North Dakota; the Denver-Julesburg Basin, which include the Niobrara and Codell shale formations in Colorado; the Permian Basin that comprise the Bone Spring and Wolfcamp shale formations in New Mexico; the Piceance Basin, which include the Mesaverde formation, and the Mancos and Niobrara shale formations in western Colorado; the Barnett Shale formation in north-central Texas; and the Marcellus Shale formation in northern West Virginia. The company also owns an ownership interest in Ohio Gathering, which owns and operates natural gas gathering and condensate stabilization facility in the Utica Shale in southeastern Ohio. It serves natural gas and crude oil producers. Summit Midstream GP, LLC operates as a general partner of the company. The company was founded in 2009 and is headquartered in Houston, Texas.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 458.90M | 369.59M | 400.62M | 383.47M | 443.53M | 506.65M | 488.74M | 402.36M | 371.32M | 330.69M | 242.81M | 165.50M | 103.55M | 31.68M |
| Cost of Revenue | 335.97M | 280.03M | 201.05M | 154.79M | 173.64M | 311.64M | 266.59M | 234.99M | 214.87M | 217.36M | 91.86M | 86.96M | 0.00 | 3.87M |
| Gross Profit | 122.94M | 89.56M | 199.57M | 228.69M | 269.88M | 195.01M | 222.15M | 167.37M | 156.45M | 113.33M | 150.95M | 78.54M | 103.55M | 27.80M |
| Gross Profit Ratio | 26.79% | 24.23% | 49.82% | 59.64% | 60.85% | 38.49% | 45.45% | 41.60% | 42.13% | 34.27% | 62.17% | 47.46% | 100.00% | 87.77% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 42.14M | 44.94M | 59.84M | 76.43M | 55.93M | 52.88M | 54.75M | 53.73M | 37.33M | 34.75M | 27.33M | 23.38M | 0.00 | 10.04M |
| Selling & Marketing | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 42.14M | 44.94M | 59.84M | 76.43M | 55.93M | 52.88M | 54.75M | 53.73M | 37.33M | 34.75M | 27.33M | 23.38M | 20.64M | 10.04M |
| Other Expenses | 4.19M | 98.11M | 74.18M | 86.03M | 97.59M | -21.14M | 200.62M | -55.74M | 2.00K | 1.19M | -108.00K | 9.00K | 61.86M | 32.00K |
| Operating Expenses | 46.32M | 143.05M | 134.02M | 162.46M | 153.51M | 52.88M | 54.75M | 53.73M | 37.33M | 34.75M | 87.30M | 23.38M | 61.86M | 19.54M |
| Cost & Expenses | 378.10M | 423.08M | 335.07M | 317.25M | 327.16M | 364.52M | 321.35M | 288.73M | 252.21M | 252.10M | 179.16M | 110.33M | 61.86M | 23.41M |
| Interest Income | 0.00 | 0.00 | 66.16M | 78.89M | 91.97M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Expense | 140.78M | 102.46M | 66.16M | 78.89M | 74.43M | 60.54M | 68.13M | 63.81M | 48.62M | 40.16M | 19.17M | 12.77M | 3.05M | 0.00 |
| Depreciation & Amortization | 124.99M | 120.70M | 121.10M | 122.31M | 114.66M | 106.77M | 114.87M | 112.66M | 96.19M | 82.99M | 61.86M | 35.30M | 11.37M | 4.09M |
| EBITDA | 204.50M | 178.51M | 211.64M | 302.38M | 232.55M | 248.90M | 282.34M | 227.62M | 208.05M | 172.55M | 147.29M | 55.17M | 53.06M | 12.39M |
| EBITDA Ratio | 44.56% | 17.99% | 16.21% | 17.28% | 26.79% | 23.88% | 75.30% | 14.39% | 32.08% | 24.12% | 51.64% | 33.34% | 51.24% | 39.10% |
| Operating Income | 80.80M | -53.49M | -55.06M | -52.80M | 7.38M | 142.14M | 167.39M | 113.64M | 119.11M | 78.58M | 63.65M | 55.17M | 41.69M | 8.26M |
| Operating Income Ratio | 17.61% | -14.47% | -13.74% | -13.77% | 1.66% | 28.05% | 34.25% | 28.24% | 32.08% | 23.76% | 26.21% | 33.33% | 40.26% | 26.09% |
| Total Other Income/Expenses | -29.55M | -65.90M | -83.93M | 124.22M | -72.00M | -88.87M | -78.78M | -121.41M | -306.60M | -99.12M | -19.28M | -12.76M | -3.04M | 32.00K |
| Income Before Tax | -72.45M | -141.28M | -28.16M | 177.66M | -30.81M | 53.27M | 88.61M | -7.77M | -187.49M | -20.53M | 44.37M | 42.41M | 38.65M | 8.30M |
| Income Before Tax Ratio | -15.79% | -38.22% | -7.03% | 46.33% | -6.95% | 10.51% | 18.13% | -1.93% | -50.49% | -6.21% | 18.27% | 25.62% | 37.32% | 26.19% |
| Income Tax Expense | 322.00K | 325.00K | -327.00K | -146.00K | 1.17M | 33.00K | 341.00K | 75.00K | -676.00K | 631.00K | 729.00K | 682.00K | 695.00K | 124.00K |
| Net Income | -38.95M | -123.46M | -27.83M | 192.35M | -31.98M | 42.18M | 86.05M | -38.19M | -192.21M | -23.99M | 43.58M | 17.61M | 37.95M | 8.09M |
| Net Income Ratio | -8.49% | -33.40% | -6.95% | 50.16% | -7.21% | 8.33% | 17.61% | -9.49% | -51.76% | -7.26% | 17.95% | 10.64% | 36.65% | 25.55% |
| EPS | -3.77 | -12.29 | -4.13 | 53.55 | -5.82 | 8.63 | 14.85 | -8.39 | -45.31 | -6.23 | 12.90 | 5.25 | 1.46 | 0.31 |
| EPS Diluted | -3.77 | -12.29 | -4.13 | 52.07 | -5.82 | 8.60 | 14.70 | -8.39 | -45.31 | -6.23 | 12.90 | 5.25 | 1.46 | 0.31 |
| Weighted Avg Shares Out | 10.33M | 10.05M | 6.74M | 3.59M | 5.49M | 4.89M | 4.85M | 4.55M | 4.24M | 3.85M | 3.42M | 3.25M | 26.04M | 26.04M |
| Weighted Avg Shares Out (Dil) | 10.33M | 10.05M | 6.74M | 3.69M | 5.49M | 4.91M | 4.87M | 4.55M | 4.24M | 3.85M | 3.43M | 3.26M | 26.04M | 26.04M |
Summit Advances Planned Conversion to C-Corporation to Facilitate Growth and Value Creation
Schedules July 18 th Special Meeting for Unitholder Approval: Recommends Common Unitholders Vote "FOR" C-Corporation Conversion Files Investor Presentation, Outlining Benefits for Summit Unitholders HOUSTON , June 17, 2024 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) ("Summit," "SMLP" or the...
Summit Midstream Partners, LP Announces Expiration and Results for Asset Sale Offer to Purchase up to $215,000,000 Aggregate Principal Amount of Outstanding 8.500% Senior Secured Second Lien Notes Due 2026
HOUSTON , June 6, 2024 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) ("Summit," "SMLP" or the "Partnership") today announced the expiration and results of the previously announced cash tender offer (the "Asset Sale Offer") of Summit Midstream Holdings, LLC ("Holdings")...
Summit Midstream Partners, LP Announces Asset Sale Offer to Purchase up to $215,000,000 Aggregate Principal Amount of Outstanding 8.500% Senior Secured Second Lien Notes Due 2026
HOUSTON , May 7, 2024 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) ("Summit," "SMLP" or the "Partnership") today announced that Summit Midstream Holdings, LLC ("Holdings") and Summit Midstream Finance Corp. (together with Holdings, the "Issuers"), which are subsidiaries of...
Summit Midstream Partners, LP Common Units (SMLP) Q1 2024 Earnings Call Transcript
Summit Midstream Partners, LP Common Units (NYSE:SMLP ) Q1 2024 Earnings Conference Call May 3, 2024 10:00 AM ET Company Participants Randall Burton - Director, Investor Relations Heath Deneke - President, Chief Executive Officer and Chairman Bill Mault - Chief...
Antero Midstream Announces Bolt-On Acquisition, Increased 2024 Guidance and Redemption of 2026 Senior Notes
DENVER , May 2, 2024 /PRNewswire/ -- Antero Midstream Corporation (NYSE: AM) ("Antero Midstream" or the "Company") today announced a bolt-on acquisition of gathering and compression assets in the Marcellus Shale for $70 million from Summit Midstream Partners LP (NYSE:...
Summit Midstream Partners, LP Reports First Quarter 2024 Financial and Operating Results
HOUSTON , May 2, 2024 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) ("Summit", "SMLP" or the "Partnership") announced today its financial and operating results for the three months ended March 31, 2024. Highlights Reduced net leverage ratio to approximately...
Summit Midstream Partners, LP Schedules First Quarter 2024 Earnings Call and Announces Expiration and Results for Excess Cash Flow Offer to Purchase up to $19,331,000 Aggregate Principal Amount of Outstanding 8.500% Senior Secured Second Lien Notes Due 2026
HOUSTON , April 25, 2024 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) ("Summit," "SMLP" or the "Partnership") today announced it will report operating and financial results for the first quarter of 2024 on Friday, May 3, 2024, before the...
Summit Midstream Partners: The Market Has Yet To Understand Its Recent Success
Summit Midstream Partners sold Utica and Northeast assets to MPLX for $625 million, reducing debt and improving liquidity. The company's portfolio has become more focused on crude oil and the Double E pipeline, with adjusted EBITDA expected to be $200...
Double E Pipeline Announces Open Season for Available Capacity
HOUSTON , April 1, 2024 /PRNewswire/ -- Double E Pipeline, LLC ("Double E") announced today the launch of a non-binding open season ("Open Season") to solicit expressions of interest for firm transportation service on its system. The Open Season will...
Summit Midstream Partners, LP Announces Excess Cash Flow Offer to Purchase up to $19,331,000 Aggregate Principal Amount of Outstanding 8.500% Senior Secured Second Lien Notes Due 2026
HOUSTON , March 27, 2024 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) ("Summit," "SMLP" or the "Partnership") today announced that Summit Midstream Holdings, LLC ("Holdings") and Summit Midstream Finance Corp. (together with Holdings, the "Issuers"), which are subsidiaries of the...
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