SM Energy (NYSE: SM) reported Q2 EPS of $1.85, $0.33 better than the analyst estimate of $1.52. Revenue for the quarter came in at $634.56 million versus the consensus estimate of $615.84 million.

UPDATED GUIDANCE FULL YEAR 2024:

Presented before consideration of Uinta Basin Acquisitions.

Full year guidance for net production is unchanged at 57-60 MMBoe, or 156-164 MBoe/d.
Oil production, as a percent of total production, is increased from 44% to 45%, or an average of 70-74 MBbls/d.
Full year guidance for capital expenditures (net of the change in capital accruals),(1) excluding acquisitions, is unchanged at $1.14-$1.18 billion. The Company has increased the number of net wells drilled and completed in 2024 to approximately 123 and 125, respectively.
Other expense line items remain unchanged.

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