SM FY 2024 Earnings Report — SM Energy Company Revenue & Financial Results | Market Cap Arena

SM Energy CompanySM

FY 2024 Earnings

Reported February 20, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2024	Prior Q	FY 2023	QoQ Change	YoY Change
Revenue	$2.7B	—	$2.4B	—	13.0%
Op. Income	$1.1B	—	$987M	—	9.0%
Gross Margin	45.9%	—	47.0%	—	-1.1pp
Net Margin	28.8%	—	34.6%	—	-5.8pp
EPS (Diluted)	$6.67	—	$6.86	—	-2.8%
Free Cash Flow	-$1.6B	—	$475M	—	-443.5%

Revenue Flow

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$1.4B
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$138M
SG&A Expenses	$138M
Other Expenses	$11M
Operating Expenses	$149M
Cost & Expenses	$1.6B
OPERATING INCOME	$1.1B
Interest Income	$32M
Interest Expense	$141M
Other Income/Expenses	-$109M
INCOME BEFORE TAX	$966M
Income Tax Expense	$196M
Net Income from Continuing Ops	$770M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$770M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$770M
D&A	$809M
EBIT	$1.1B
EBITDA	$1.9B
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$1.4B
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$138M
SG&A Expenses	$138M
Other Expenses	$11M
Operating Expenses	$149M
Cost & Expenses	$1.6B
OPERATING INCOME	$1.1B
Interest Income	$32M
Interest Expense	$141M
Other Income/Expenses	-$109M
INCOME BEFORE TAX	$966M
Income Tax Expense	$196M
Net Income from Continuing Ops	$770M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$770M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$770M
D&A	$809M
EBIT	$1.1B
EBITDA	$1.9B
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$770M
Depreciation & Amortization	$809M
Stock-Based Compensation	$25M
Deferred Income Tax	$175M
Other Non-Cash Items	-$8M
Change in Working Capital	$11M
OPERATING CASH FLOW	$1.8B
Capital Expenditure	-$3.4B
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$2.1B
NET CASH FROM INVESTING	-$3.4B
Net Debt Issuance	$1.2B
Common Stock Repurchased	-$86M
Common Dividends Paid	-$85M
Other Financing Activities	-$20M
NET CASH FROM FINANCING	$1.0B
FREE CASH FLOW	-$1.6B
Net Change in Cash	-$616M

Balance Sheet

Item	Amount
Cash & Equivalents	$0
Short-Term Investments	$0
Net Receivables	$361M
Inventory	$0
Other Current Assets	$74M
TOTAL CURRENT ASSETS	$435M
PP&E (Net)	$8.0B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$4M
Tax Assets	$0
Other Non-Current Assets	$145M
TOTAL NON-CURRENT ASSETS	$8.1B
TOTAL ASSETS	$8.6B
Account Payables	$83M
Short-Term Debt	$22M
Deferred Revenue	$0
Other Current Liabilities	$333M
TOTAL CURRENT LIABILITIES	$790M
Long-Term Debt	$2.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$545M
Other Non-Current Liabilities	$185M
TOTAL NON-CURRENT LIABILITIES	$3.5B
TOTAL LIABILITIES	$4.3B
Common Stock	$1M
Additional Paid-In Capital	$1.5B
Retained Earnings	$2.7B
Treasury Stock	$0
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.2B
Minority Interest	$0
TOTAL EQUITY	$4.2B
TOTAL LIABILITIES & EQUITY	$8.6B
Total Debt	$2.8B
Net Debt	$2.8B