Summit Midstream Corporation filed its third-quarter 2026 financial and operating results on November 9, 2026, reporting net income of $15.9 million and Adjusted EBITDA of $70.7 million for the three months ended September 30, 2026.

Key Highlights

  • Net income: $15.9 million for the third quarter of 2026, with Adjusted EBITDA of $70.7 million, up 16% relative to the second quarter of 2026.
  • Guidance raised: Full-year 2026 Adjusted EBITDA guidance range increased to $250 million to $260 million, from the prior range of $235 million to $255 million.
  • Double E throughput record: Double E Pipeline averaged 1,002 MMcf/d in the third quarter, a 17% increase relative to the second quarter of 2026, and contributed $11.2 million in Adjusted EBITDA net to SMC.
  • Rockies segment growth: Rockies Segment Adjusted EBITDA rose 32% to $40.0 million relative to the second quarter of 2026, driven by a 39.7% increase in liquids volume throughput to 95 Mbbl/d and 51 new well connections.
  • Distributable Cash Flow: Cash flow available for distributions was $32.6 million, with free cash flow of $5.2 million for the quarter.
  • Capital expenditures: Total capital expenditures were $21.2 million in the third quarter of 2026, including $4.7 million of maintenance capital; full-year 2026 capex guidance of $100 million to $120 million was maintained, with the company expecting to be near the high end.

Summit Midstream Q3 2026 Operating and Financial Details

According to the filing, Summit Midstream Corporation (NYSE:SMC) reported third-quarter 2026 Adjusted EBITDA of $70.7 million, an increase of 16% relative to the second quarter of 2026. The company's average daily natural gas throughput on its wholly owned, operated systems increased 5.9% to 952 MMcf/d, while liquids volumes increased 39.7% to 95 Mbbl/d, relative to the second quarter. The filing attributed these gains primarily to activity in the Rockies Segment, where 51 new wells were connected during the quarter, 32 in the Williston Basin and 19 in the DJ Basin.

The Rockies Segment Adjusted EBITDA totaled $40.0 million for the third quarter, up $9.6 million from the prior quarter, according to the filing. The company disclosed that third-quarter Rockies results also included approximately $3.7 million of commercial billing settlements. The Mid-Con Segment contributed $22.8 million in Adjusted EBITDA, up approximately $1.4 million from the second quarter, driven by a 7.3% increase in natural gas volume throughput to 561 MMcf/d. The Piceance Segment reported $8.3 million, a decrease of $0.4 million relative to the second quarter, as higher operating expenses offset a 4.2% volume throughput increase.

The company disclosed a final investment decision on the Double E Mainline Compression Expansion and stated that the pipeline "remains on track to fully subscribe the remaining forward-haul capacity by year-end." Full-year 2026 capital expenditures guidance was held at $100 million to $120 million, with SMC disclosing it currently expects to be near the high end of that range. The company cited incremental growth projects, including 30 additional Williston wells added or accelerated from 2027, as drivers of the increase from its original guidance of $85 million to $105 million. The filing also disclosed an expected year-end 2026 total net leverage ratio of approximately 3.6x, based on the midpoint of the updated Adjusted EBITDA guidance range.

What Was Disclosed

Summit Midstream reported Q3 2026 results showing net income of $15.9 million, Adjusted EBITDA of $70.7 million, DCF of $32.6 million, and FCF of $5.2 million, while raising its full-year 2026 Adjusted EBITDA guidance range to $250 million to $260 million.