SMC on NYSE

Summit Midstream Corp

American natural gas transmission company based in Dover, active since 2024. Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

$562.1MRevenue, fiscal 20253
-$5.9MNet income, fiscal 20253

Compare with USA Compression Partners, LP, Antero Midstream Corp or DT Midstream, Inc., or pick any stock.

  • TickerSMC on NYSE2
  • IndustryNatural Gas Transmission2
  • HeadquartersDover, United States2
  • Incorporated inDE4
  • Business address910 Louisiana Street, Suite 4200, Houston, Tx 770024
  • Filer categoryAccelerated filer4
  • Legal formCorporation2
  • LEI529900DFYEMSMUJH0M682
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressc/o CAPITOL SERVICES, INC., 108 LAKELAND AVE., 19901 Dover, United States2
  • Registered withDivision of Corporations, Department of State, 36763252

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Summit Midstream Corporation, a Delaware corporation (including its subsidiaries, collectively, “we”, “our”, “us”, “SMC”, or “the Company”), is a value-driven company focused on developing, owning and operating midstream energy infrastructure assets that are strategically located in the core producing areas of unconventional resource basins, primarily shale formations, in the continental United States. The Company’s business activities are primarily conducted through various operating subsidiaries, each of which is owned or controlled by its subsidiary holding company, Summit Holdings.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-1.1%Net margin3
30.8%Revenue growth, 20253
-1.1%Return on equity3
1.88×Debt to equity3
$44.6MFree cash flow3

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Natural Gas NGL And Condensate Sales brought in 24% of the revenue Summit Midstream Corp broke down this way in fiscal 2025.

  1. Natural Gas NGL And Condensate Sales$265.1M324%up 36% from 2024
  2. Oil and Condensate$265.1M324%up 36% from 2024
  3. Gathering Servicesand Related Fees$255.7M323%up 27% from 2024
  4. Natural Gas, Gathering, Transportation, Marketing and Processing$255.7M323%up 27% from 2024
  5. Other Products And Services$41.4M34%up 25% from 2024
  6. Product and Service, Other$41.4M34%up 23% from 2024
Products and services by year
Products and services202320242025
Natural Gas NGL And Condensate Sales$179.3M$195.0M$265.1M
Oil and Condensate$179.3M$195.0M$265.1M
Gathering Servicesand Related Fees$248.2M$200.8M$255.7M
Natural Gas, Gathering, Transportation, Marketing and Processing$248.2M$200.8M$255.7M
Other Products And Services$31.5M$33.0M$41.4M
Product and Service, Other$31.4M$33.7M$41.4M

Business segments

Rockies brought in 59% of the revenue Summit Midstream Corp broke down this way in fiscal 2025.

  1. Rockies$329.4M359%up 23% from 2024
  2. Mid-Con Barnett Shale$159.2M328%up 180% from 2024
  3. Piceance Basin$69.9M312%down 14% from 2024
  4. Permian Basin$3.6M31%up 0% from 2024
Business segments by year
Business segments202320242025
Rockies$255.0M$268.5M$329.4M
Mid-Con Barnett Shale$45.1M$56.9M$159.2M
Piceance Basin$91.4M$81.0M$69.9M
Permian Basin$3.6M$3.6M$3.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue27¢$149.1M
  • Other costs57¢$317.7M
  • Interest17¢$94.7M
  • Income tax0¢$501.0K

Out of $562.1M in revenue.3 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending67¢$89.0M
  • Kept or used elsewhere33¢$44.6M

Out of $133.6M of cash from operations.3

Financial statements

Revenue3$562.1M in 2025+22% since 2023
0$200.0M$400.0M$600.0M2023: $458.9M$458.9M20232024: $429.6M$429.6M2024−6%2025: $562.1M$562.1M2025+31%
Net income3-$5.9M in 2025−88% since 2023
-$150.0M-$100.0M-$50.0M02023: -$51.5M-$51.5M20232024: -$122.2M-$122.2M2024+137%2025: -$5.9M-$5.9M2025−95%

Every line of the income statement as filed: the last 3 fiscal years, latest first.3

Period ending2025-12-312024-12-312023-12-31
Total revenues$562.1M$429.6M$458.9M
Cost of natural gas and NGLs$149.1M$115.0M$112.5M
Operation and maintenance$149.1M$101.0M$100.7M
General and administrative$61.0M$55.6M$42.1M
Depreciation and amortization$114.2M$100.6M$122.8M
Transaction costs$4.9M$31.0M$1.3M
Acquisition integration costs$8.1M$165.0K$2.7M
(Gain) loss on asset sales, net$486.0K$1.0K-$260.0K
Long-lived asset impairment$2.7M$68.3M$540.0K
Total costs and expenses$489.7M$471.6M$382.3M
Other income, net$783.0K$4.2M$865.0K
Gain (loss) on interest rate swaps-$1.0M$4.1M$1.8M
Gain (loss) on sale of business-$582.0K$82.2M-$47.0K
Gain on sale of equity method investment$0$126.3M$0
Interest expense-$94.7M-$115.4M-$140.8M
Loss on early extinguishment of debt$0-$50.1M-$10.9M
Income from equity method investees$20.8M$24.2M$33.8M
Income (loss) before income taxes-$2.4M$33.5M-$38.6M
Income tax benefit (expense)$501.0K-$146.7M-$322.0K
Net loss-$1.9M-$113.2M-$38.9M
Less: Net income attributable to Subsidiary Series A Preferred Units-$14.9M-$14.8M-$12.6M
Less: Net income attributable to Series A Preferred Stock-$13.6M-$13.3M-$11.6M
Add: Net loss attributable to noncontrolling interest$10.8M$5.8M$0
Net loss attributable to Summit Midstream Corporation-$19.6M-$135.5M-$63.1M
Common stock - basic (in dollars per share)-$1.61-$12.78-$6.11
Common stock - diluted (in dollars per share)-$1.61-$12.78-$6.11
Common stock - basic (in shares)12.1M shares10.6M shares10.3M shares
Common stock - diluted (shares)12.1M shares10.6M shares10.3M shares

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Leadership

Who has led Summit Midstream Corp, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. J. Heath Deneke2024–now

Chair

  1. J. Heath Deneke2024–now

President

  1. J. Heath Deneke2024–now

Chief financial officer

  1. William J. Mault2024–now
2025
Board members and other officers (10)

Timeline

  1. Aug 2, 2024New chief executive J. Heath Deneke becomes CEO12
  2. May 14, 2024Founded Summit Midstream Corp is founded2

Filings

164 filings to the SEC since October 2021: 2 annual reports, 6 quarterly reports, 27 major events, 85 insider forms, 14 large holders, 30 other. The latest 20:

  1. Oct 2, 20264 EDGAR
  2. Aug 10, 20268-K CURRENT REPORT EDGAR
  3. Aug 10, 202610-Q EDGAR
  4. Jul 6, 20264 EDGAR
  5. Jul 2, 2026144 EDGAR
  6. Jun 29, 2026S-8 REGISTRATION STATEMENT EDGAR
  7. Jun 10, 20268-K CURRENT REPORT EDGAR
  8. Jun 1, 20268-K CURRENT REPORT EDGAR
  9. May 21, 20264 EDGAR
  10. May 18, 2026144 EDGAR
  11. May 12, 20268-K CURRENT REPORT EDGAR
  12. May 11, 20268-K CURRENT REPORT EDGAR
  13. May 11, 202610-Q EDGAR
  14. Apr 27, 2026SCHEDULE 13G/A EDGAR
  15. Apr 21, 20264 EDGAR
  16. Apr 13, 20264 EDGAR
  17. Apr 10, 2026ARS EDGAR
  18. Apr 10, 2026DEF 14A PROXY STATEMENT EDGAR
  19. Apr 9, 2026SCHEDULE 13D/A EDGAR
  20. Apr 2, 20268-K CURRENT REPORT EDGAR

The 164 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

103 open-market trades by officers, directors and large owners since October 2021: 4 buys and 99 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 2, 2026Johnston James DavidExecutive VP, GC, CCO and SecySale2,600$29.72$77.3KForm 4
May 19, 2026PETERS JERRY LDirectorSale10,000$32.00$320.0KForm 4
Mar 31, 2026Herring EdwardDirectorBuy1,220,918$31.08$37.9MForm 4
Aug 28, 2025Tailwater Capital LLC10% ownerBuy26,319$20.89$549.8KForm 4
Aug 27, 2025Tailwater Capital LLC10% ownerBuy47,401$20.50$971.7KForm 4
Aug 26, 2025Tailwater Capital LLC10% ownerBuy72,759$20.46$1.5MForm 4
Mar 28, 2025Deneke J HeathChairman, President and CEOSale1,000$34.67$34.7KForm 4
Mar 27, 2025Deneke J HeathChairman, President and CEOSale1,000$35.33$35.3KForm 4
Mar 26, 2025Deneke J HeathChairman, President and CEOSale1,000$35.33$35.3KForm 4
Mar 25, 2025Deneke J HeathChairman, President and CEOSale1,000$35.74$35.7KForm 4
Mar 24, 2025Deneke J HeathChairman, President and CEOSale1,000$36.32$36.3KForm 4
Mar 21, 2025Deneke J HeathChairman, President and CEOSale1,000$36.30$36.3KForm 4
Mar 20, 2025Deneke J HeathChairman, President and CEOSale1,000$37.73$37.7KForm 4
Mar 19, 2025PETERS JERRY LDirectorSale6,700$37.40$250.6KForm 4
Mar 19, 2025Deneke J HeathChairman, President and CEOSale1,000$37.68$37.7KForm 4
Mar 19, 2025PETERS JERRY LDirectorSale6,700$37.40$250.6KForm 4
Mar 18, 2025PETERS JERRY LDirectorSale52$38.00$2.0KForm 4
Mar 18, 2025PETERS JERRY LDirectorSale52$38.00$2.0KForm 4
Mar 18, 2025Deneke J HeathChairman, President and CEOSale1,000$38.01$38.0KForm 4
Mar 17, 2025PETERS JERRY LDirectorSale3,303$39.12$129.2KForm 4

All 103 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 75. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Invesco Ltd.967,503$27.6M0.0%−1,896
Deltroit Asset Management (UK) LLP815,000$23.2M3.8%+107,944
BlackRock, Inc.658,624$18.8M0.0%+9,233
Vanguard Capital Management LLC511,424$14.6M0.0%+5,253
Eagle Global Advisors LLC263,086$7.5M0.2%+36,288
Geode Capital Management, LLC247,637$7.1M0.0%+14,615
State Street Corp184,546$5.3M0.0%+5,939
Flat Footed LLC158,517$4.5M0.8%+34,239
American Century Companies Inc155,119$4.4M0.0%+32,698
Charles Schwab Investment Management Inc122,853$3.5M0.0%−51,472
Bridgeway Capital Management, LLC119,553$3.4M0.1%+1,757
Bank Of America Corp /de/118,636$3.4M0.0%−35,904
Empowered Funds, LLC91,553$2.6M0.0%+1,757
Liberty Mutual Group Asset Management Inc.84,840$2.4M0.2%No change
Morgan Stanley80,761$2.3M0.0%−15,483
Northern Trust Corp75,675$2.2M0.0%+5,384
Vanguard Fiduciary Trust Co68,641$2.0M0.0%−2,766
Citadel Advisors LLC63,910$1.8M0.0%+54,677
Vanguard Portfolio Management LLC59,760$1.7M0.0%+10,100
Farallon Capital Management, L.l.c.58,214$1.7M0.0%No change
Algert Global LLC57,553$1.6M0.0%+10,842
Ark & Tlk Investments, LLC55,705$1.6M0.4%−53,529
Cetera Investment Advisers55,433$1.6M0.0%−1,100
Summit Financial, LLC52,985$1.5M0.0%No change
Susquehanna International Group, Llp47,858$1.4M0.0%+24,741

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

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