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.

• On a quarterly basis, Operating Expenses rose 212.85% year-over-year to $1.8 billion in Q1 2026; TTM through Mar 2026 was $3.4 billion, a 86.66% increase from a year earlier, with the FY2025 full-year figure at $2.2 billion, up 33.37% from the prior year.
• Operating Expenses for Q1 2026 stood at $1.8 billion, up from $522.6 million in the prior quarter.
• Over the last five years, Operating Expenses for SM reached as high as $1.8 billion in Q1 2026 and fell as low as $213.2 million in Q3 2022.
• Historically, Operating Expenses has averaged $512.5 million across 5 years, with a median of $445.3 million in 2023.
• Across the five-year window, Operating Expenses plunged 66.38% in 2022 and surged 212.85% in 2026, its largest moves.
• Year by year, Operating Expenses stood at $328.7 million in 2022, then slipped by 9.07% to $298.8 million in 2023, then jumped by 89.3% to $565.7 million in 2024, then fell by 7.62% to $522.6 million in 2025, then jumped by 240.03% to $1.8 billion in 2026.
• Per Business Quant data, the three most recent Operating Expenses figures were $1.8 billion in Q1 2026, $522.6 million in Q4 2025, and $565.1 million in Q3 2025.