v3.26.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Total revenues $ 155,013 $ 140,217 $ 294,155 $ 272,914
Costs and expenses:        
Cost of natural gas and NGLs $ 49,092 $ 35,914 $ 88,464 $ 71,348
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 $ 39,812 $ 39,241 $ 78,029 $ 72,771
General and administrative 13,690 15,516 31,563 32,116
Depreciation and amortization 26,851 30,055 53,559 58,572
Transaction costs 19 1,061 241 3,854
Acquisition integration costs 608 4,155 981 5,399
Gain (loss) on asset sales, net (26) 0 3 0
Long-lived asset impairments 0 71 0 71
Total costs and expenses 130,046 126,013 252,840 244,131
Other income (expense), net 1,290 378 700 9,435
Gain (loss) on interest rate swaps 947 (500) 797 (1,466)
Loss on sale of business 0 0 0 (43)
Interest expense (27,403) (23,864) (52,416) (46,401)
Income from equity method investees 5,832 4,802 11,069 9,642
Income (loss) before income taxes 5,633 (4,980) 1,465 (50)
Income tax benefit (expense) (1,068) 752 (66) 456
Net income (loss) 4,565 (4,228) 1,399 406
Less: Net income attributable to Subsidiary Series A Preferred Units 0 (3,679) (1,930) (7,271)
Less: Net income attributable to Series A Preferred Stock (1,865) (3,101) (4,978) (7,019)
Add: Net (income) loss attributable to noncontrolling interest in SMLP (1,093) 2,980 1,821 3,969
Net income (loss) attributable to Summit Midstream Corporation $ 1,607 $ (8,028) $ (3,688) $ (9,915)
Net income (loss) per share:        
Common stock – basic (in dollars per share) $ 0.12 $ (0.66) $ (0.28) $ (0.83)
Common stock – diluted (in dollars per share) $ 0.11 $ (0.66) $ (0.28) $ (0.83)
Weighted-average number of shares outstanding:        
Common stock – basic (in shares) 13,811 12,241 13,074 12,005
Common stock – diluted (in shares) 14,045 12,241 13,074 12,005
Gathering services and related fees        
Revenues:        
Total revenues $ 62,700 $ 64,182 $ 122,270 $ 128,347
Natural gas, NGLs and condensate sales        
Revenues:        
Total revenues 84,116 66,345 157,767 125,672
Other revenues        
Revenues:        
Total revenues $ 8,197 $ 9,690 $ 14,118 $ 18,895