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Summit Midstream Corporation Reports Fourth Quarter and Full-Year 2024 Financial and Operating Results & Provides Full-Year 2025 Guidance

1. SMC reported a Q4 2024 net loss, but strong DCF and FCF figures. 2. 2025 guidance shows optimistic EBITDA and well growth despite prior losses.

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FAQ

Why Bullish?

Despite a net loss, SMC's strong cash flow metrics and acquisitions suggest potential growth, similar to historical resilience seen in firms post a strategic acquisition phase.

How important is it?

The guidance provided for 2025 is crucial for investor sentiment, reflecting SMC's strategic direction and potential recovery following Q4 losses.

Why Short Term?

The reinstatement of dividends and expected well connections in 2025 signal potential near-term upward momentum in stock price, often leading to investor confidence in the short-term.

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TOLKMNROKE
HOUSTON , March 10, 2025 /PRNewswire/ -- Summit Midstream Corporation (NYSE: SMC) ("Summit", "SMC" or the "Company") announced today its financial and operating results for fourth quarter and full-year 2024 and provided full-year 2025 financial guidance. Highlights Fourth quarter 2024 net loss of $24.8 million, adjusted EBITDA of $46.2 million, cash flow available for distributions ("Distributable Cash Flow" or "DCF") of $22.1 million and free cash flow ("FCF") of $6.6 million Reduced total leverage to 3.9x1 at year-end 2024 Successfully closed value- and credit-accretive acquisition of Tall Oak Midstream III Connected 23 wells during the fourth quarter, resulting in 156 wells connected in 2024 Active customer base with over 100 DUCs behind our systems and 125 to 185 wells expected in 2025 Closed the value- and credit-accretive bolt on acquisition of Moonrise Midstream in the DJ Basin on March 10, 2025 Reinstated cash dividend on the Series A Preferred Stock beginning March 15, 2025 Provided 2025 full-year financial guidance range2 of $245 million to $280 million in adjusted EBITDA and total capital expenditures of $65 million to $75 million Management Commentary Heath Deneke, President, Chief Executive Officer and Chairman, commented, "2024 was an eventful and pivotal year for Summit.

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