The financials
SM Energy Company by the numbers
SM Energy Company (SM) reported revenue of $2.50B in Q2 2026 (quarter ended June 30, 2026), up 215% from the same quarter a year earlier. That came with a gross margin of 78% and net income of $1.07B (43% of revenue). For the full year FY2025, revenue was $3.15B (+17% year on year) and net income $648M. Its largest product in 2026-Q2 was Crude Oil at $1.14B, 98% of the disclosed total, just ahead of Natural Gas Liquids Reserves at 2.4%.
| Income statement | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Revenue | $2.50B | $793M | +215% |
| Gross profit | $1.94B | $569M | +242% |
| Operating income | $1.50B | $295M | +407% |
| Net income | $1.07B | $202M | +430% |
| Diluted EPS | $4.46 | $1.76 | +153% |
| Product | Revenue | Share |
|---|---|---|
| Crude Oil | $1.14B | 98% |
| Natural Gas Liquids Reserves | $28M | 2.4% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q2 2026Total $1.11B (+52%)
Crude Oil grew +260% year on yearNatural Gas Reserves -296% year on year
Segment Latestquarter on quarteryear on year
- Crude Oil$1.14B$1.14BQoQ +62%year on year +260%+62%+260%
- Natural Gas Liquids Reserves$28.0M$28.0MQoQ +75%year on year -+75%-
- Natural Gas Reserves−$53.0M−$53.0MQoQ -508%year on year -296%-508%-296%