SM Energy Q2 2026: Net income +430% to $1.07B on Civitas merger, South Texas sale

Filed August 6, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 1, 2025 · ~1 min read

Key Changes

• high

  Net income surged 430% to $1.07B ($4.46/share) in Q2 2026, driven by the Civitas merger (closed Jan 2026) which doubled production to 439.7 MBOE/day and expanded the portfolio to 233k net Permian acres and 301k net DJ Basin acres.

  Notes: Civitas merger; MD&A: Q2 2026 results view on EDGAR →
• high

  Debt restructured: issued $1.0B of 2034 notes (6.625%) to repurchase $894M of higher-coupon 2028 Civitas notes (8.375%); redeemed all 2026 and 2027 maturities, eliminating near-term refinancing risk.

  Notes: Debt restructuring view on EDGAR →
• medium

  Workforce reduced post-merger, incurring $122M restructuring costs in H1 2026 (severance, retention, accelerated stock comp); additional $7M expected in H2 2026 to complete integration.

  Notes: Restructuring costs verify on EDGAR →