v3.25.2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Total revenues $ 140,217 $ 101,315 $ 272,914 $ 220,186
Costs and expenses:        
Cost of natural gas and NGLs $ 35,914 $ 29,619 $ 71,348 $ 59,801
Type of cost, good or service [extensible list] Natural Gas Liquids (NGL) [Member] Natural Gas Liquids (NGL) [Member] Natural Gas Liquids (NGL) [Member] Natural Gas Liquids (NGL) [Member]
Operation and maintenance $ 39,241 $ 23,440 $ 72,771 $ 48,452
General and administrative 15,516 14,164 32,116 28,949
Depreciation and amortization 30,055 23,917 58,572 51,784
Transaction costs 1,061 3,271 3,854 11,062
Acquisition integration costs 4,155 0 5,399 40
Loss on asset sales, net 0 34 0 7
Long-lived asset impairments 71 20 71 67,936
Total costs and expenses 126,013 94,465 244,131 268,031
Other income, net 378 2,131 9,435 2,118
Gain (loss) on interest rate swaps (500) 920 (1,466) 3,510
Gain (loss) on sale of business 0 (2,192) (43) 84,010
Gain on sale of equity method investment 0 0 0 126,261
Interest expense (23,864) (31,457) (46,401) (69,303)
Loss on early extinguishment of debt 0 (4,964) 0 (4,964)
Income from equity method investees 4,802 4,280 9,642 14,918
Income (loss) before income taxes (4,980) (24,432) (50) 108,705
Income tax benefit 752 654 456 444
Net income (loss) (4,228) (23,778) 406 109,149
Less: Net income attributable to Subsidiary Series A Preferred Units (3,679) (3,866) (7,271) (7,636)
Less: Net income attributable to Series A Preferred Stock (3,101) (3,313) (7,019) (6,533)
Add: Net loss attributable to noncontrolling interest in SMLP 2,980 0 3,969 0
Net income (loss) attributable to Summit Midstream Corporation $ (8,028) $ (30,957) $ (9,915) $ 94,980
Net income (loss) per share:        
Common stock – basic (in dollars per share) $ (0.66) $ (2.91) $ (0.83) $ 9.00
Common stock – diluted (in dollars per share) $ (0.66) $ (2.91) $ (0.83) $ 8.57
Weighted-average number of shares outstanding:        
Common stock – basic (in shares) 12,241 10,649 12,005 10,549
Common stock – diluted (in shares) 12,241 10,649 12,005 11,081
Interest Rate Swap        
Costs and expenses:        
Gain (loss) on interest rate swaps $ (500) $ 900 $ (1,500) $ 3,500
Gathering services and related fees        
Revenues:        
Total revenues 64,182 45,213 128,347 107,198
Natural gas, NGLs and condensate sales        
Revenues:        
Total revenues 66,345 47,959 125,672 97,051
Other revenues        
Revenues:        
Total revenues $ 9,690 $ 8,143 $ 18,895 $ 15,937