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Get filing alertsSummit Midstream reports Q2 Adjusted EBITDA up 12%, raises capex for Williston growth
Filed August 10, 2026 · Period ending August 10, 2026 · ~1 min read
Key Changes
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Q2 2026 Adjusted EBITDA of $60.7M, up 12% sequentially; net income $4.6M, Distributable Cash Flow $36.8M, free cash flow $9.4M driven by higher volumes across segments
Exhibit 99.1 view on EDGAR → -
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Tightened 2026 Adjusted EBITDA guidance to $235M–$255M; raised capex to $100M–$120M (from $85M–$105M) for 30 additional Williston Basin wells and incremental Double E capital
Exhibit 99.1 view on EDGAR → -
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Six rigs running in Williston Basin (most in several years); 17 new wells connected post-quarter, 30 incremental wells identified for Q4 2026 connection, positioning strong 2027 start
Exhibit 99.1 view on EDGAR → -
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Established $35M stock repurchase program; repurchased 34,624 shares for ~$1.0M in Q2, leaving ~$34.0M capacity as of June 30, 2026
Exhibit 99.1 view on EDGAR → -
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Board continued suspension of common stock dividends for period ended June 30, 2026; Series A Preferred dividend maintained for period ending September 14, 2026
Exhibit 99.1 view on EDGAR →
Summary
Summit Midstream reported second quarter 2026 Adjusted EBITDA of $60.7 million, up 12% from the first quarter, driven by higher volumes across its Mid-Con and Rockies segments and 36 new well connections during the quarter.
The company tightened its full-year Adjusted EBITDA guidance to $235 million to $255 million and raised capital expenditure guidance to $100 million to $120 million, reflecting 30 additional Williston Basin wells added to the program or accelerated from 2027, plus incremental Double E capital tied to new firm transportation agreements. The Williston Basin activity acceleration is the key development for investors.
Management noted six rigs running behind the system (the most in several years), 17 new wells connected since quarter-end, and approximately 30 incremental well connections identified for Q4 2026 that were not in the original plan. This positions the company for a strong start to 2027. The Board established a $35 million stock repurchase program and repurchased approximately $1.0 million of shares in Q2, while continuing to suspend common stock dividends. The combination of accelerating customer activity, higher capex for growth projects, and the new buyback program signals management's confidence in near-term cash generation and the opportunity set in the Williston Basin.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Summit Midstream announced Q2 2026 earnings results via press release.
Added in current filing · verify on EDGAR →
Summit Midstream Corporation (NYSE: SMC), a Delaware corporation issued a press release announcing its results of operations for the three months ended June 30, 2026.
The company disclosed its second quarter 2026 financial results through a press release. The 8-K filing itself does not contain the actual financial figures — those appear in the attached Exhibit 99.1 press release, which was not provided in the input text.
Event · Exhibit 99.1
Summit Midstream reported Q2 2026 results, tightened full-year Adjusted EBITDA guidance, increased capex, and established a $35M stock repurchase program.
Added in current filing · view on EDGAR →
Second quarter 2026 net income of $4.6 million, Adjusted EBITDA of $60.7 million, an increase of 12% relative to the first quarter of 2026, cash flow available for distributions (“Distributable Cash Flow” or “DCF”) of $36.8 million and free cash flow (“FCF”) of $9.4 million
Summit Midstream reported second quarter 2026 net income of $4.6 million and Adjusted EBITDA of $60.7 million, up 12% from the first quarter. Distributable Cash Flow was $36.8 million and free cash flow was $9.4 million. The increase was driven by higher volumes across segments, particularly in Mid-Con (up 9.9% to 523 MMcf/d) and Rockies (liquids up 6.3% to 68 Mbbl/d), along with 36 new well connections during the quarter.
Added in current filing · view on EDGAR →
Six rigs are running behind our system today, the most active drilling program we have seen in the basin in several years. Since the end of the second quarter, we have connected 17 new wells, nine of which we serve with both crude oil and produced water gathering. We’ve also identified approximately 30 incremental well connections in the Williston Basin that were not part of our original plan, a result of our recent commercial success in the basin and existing customers accelerating their development activity. These wells are expected to connect primarily in the fourth quarter, so we expect minimal impact on 2026 results, but they position us well for a strong start to 2027.
Management highlighted a significant acceleration in Williston Basin activity, with six rigs currently running (the most in several years) and 17 new wells connected since quarter-end, nine of which provide both crude oil and produced water gathering services. The company identified approximately 30 incremental well connections not in the original plan, expected to connect primarily in Q4 2026, positioning the company for a strong start to 2027. This reflects both commercial success and customer activity acceleration.
Added in current filing · view on EDGAR →
The Board of Directors of Summit Midstream Corporation continued to suspend cash dividends payable on the common stock for the period ended June 30, 2026. The quarterly cash dividend on the Series A Preferred Stock, for the period ending September 14, 2026, will be paid to preferred shareholders of record as of the close of business on September 1, 2026.
The Board of Directors continued to suspend cash dividends on common stock for the period ended June 30, 2026, while maintaining the quarterly cash dividend on Series A Preferred Stock. This indicates the company is prioritizing preferred shareholder payments and other capital allocation uses (such as the new buyback program and growth capex) over common dividends.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 11, 2026 · How we verify