SM Energy (SM) Operating Expenses (2009 - 2026)

SM Energy (SM) has 18 years of Operating Expenses data on file, last reported at $1.8 billion in Q1 2026.

• Operating Expenses for Q1 2026 came in at $1.8 billion, up 212.85% year-over-year; the trailing twelve-month figure through Mar 2026 was $3.4 billion (up 86.66% YoY), and the FY2025 annual result was $2.2 billion, up 33.37% from the prior year.
• Operating Expenses advanced to $1.8 billion in Q1 2026 per SM's latest filing, from $522.6 million in the prior quarter.
• Over five years, Operating Expenses peaked at $1.8 billion in Q1 2026 and troughed at $213.2 million in Q3 2022.
• A 5-year average of $512.5 million and a median of $445.3 million in 2023 frame the typical range for Operating Expenses.
• The sharpest annual moves came in 2022 and 2026: Operating Expenses slumped 66.38% in 2022, then jumped 212.85% in 2026.
• A 5-year view of Operating Expenses shows it stood at $328.7 million in 2022, then fell by 9.07% to $298.8 million in 2023, then jumped by 89.3% to $565.7 million in 2024, then slipped by 7.62% to $522.6 million in 2025, then jumped by 240.03% to $1.8 billion in 2026.
• Business Quant data shows SM's Operating Expenses at $1.8 billion in Q1 2026, $522.6 million in Q4 2025, and $565.1 million in Q3 2025.