Summit Midstream (SMC) Operating Expenses (2023 - 2026)
Summit Midstream's (SMC) quarterly Operating Expenses came in at $122.8 million in Q1 2026, up 3.96% YoY from $118.1 million in Q1 2025, and down 0.86% on a QoQ basis from $123.9 million in Q4 2025.
Summit Midstream (SMC) Operating Expenses (2023 - 2026) Analysis & Trends
Summit Midstream (SMC) has 4 years of Operating Expenses data on file, last reported at $122.8 million in Q1 2026.
- Quarterly Operating Expenses rose 3.96% year-over-year to $122.8 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $494.4 million (up 18.81% YoY) and the FY2025 annual result came in at $489.7 million, up 3.85% from the prior year.
- Operating Expenses slipped to $122.8 million in Q1 2026, from $123.9 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $173.6 million in Q1 2024 to a low of $90.8 million in Q3 2024.
- A 4-year average of $116.6 million and a median of $118.1 million in 2025 frame the typical range for Operating Expenses.
- The widest YoY moves for Operating Expenses: up 34.1% in 2025, down 31.95% in 2025.
- Tracing SMC's Operating Expenses over 4 years: stood at $102.8 million in 2023, then advanced by 9.68% to $112.8 million in 2024, then gained by 9.84% to $123.9 million in 2025, then slipped by 0.86% to $122.8 million in 2026.
- The last three Operating Expenses figures came in at $122.8 million (Q1 2026), $123.9 million (Q4 2025), and $121.7 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Kinder Morgan | 112.69 Bn | 112.57 Bn | 3.07 Bn | 3.13 Bn |
| 2 | Enbridge | 111.07 Bn | 109.57 Bn | 5.23 Bn | 19.09 Bn |
| 3 | Enterprise Products Partners | 83.45 Bn | 82.54 Bn | - | 16.13 Bn |
| 4 | Energy Transfer | 72.38 Bn | 71.35 Bn | 7.40 Bn | 30.76 Bn |
| 5 | Tc Energy | 65.96 Bn | 58.40 Bn | 1.24 Bn | 851.61 Mn |
| 6 | Oneok | 60.08 Bn | 59.92 Bn | 2.81 Bn | 4.00 Mn |
| 7 | Mplx | 60.06 Bn | 59.03 Bn | 2.73 Bn | 1.93 Bn |
| 8 | Targa Resources | 59.31 Bn | 59.18 Bn | 2.14 Bn | 354.10 Mn |
| 9 | Cheniere Energy | 56.08 Bn | 54.82 Bn | 5.29 Bn | 1.44 Bn |
| 10 | Summit Midstream | 478.76 Mn | 457.79 Mn | 105.92 Mn | 130.05 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 130.05 Mn |
| Mar 31, 2026 | 122.79 Mn |
| Dec 31, 2025 | 123.86 Mn |
| Sep 30, 2025 | 121.72 Mn |
| Jun 30, 2025 | 126.01 Mn |
| Mar 31, 2025 | 118.12 Mn |
| Dec 31, 2024 | 112.76 Mn |
| Sep 30, 2024 | 90.77 Mn |
| Jun 30, 2024 | 94.47 Mn |
| Mar 31, 2024 | 173.57 Mn |
| Dec 31, 2023 | 102.80 Mn |
| Sep 30, 2023 | 95.42 Mn |