SM Energy Company (SM) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings and welcome to the SM Energy's second quarter 2026 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note that this conference is being recorded. I would now like to turn the conference over to Megan Hayes, SM Energy's Vice President, Investor Relations. Thank you, Megan. You may begin. Yes, thank you. Good morning and welcome to SM Energy's second quarter 2026 earnings call. I'm Megan Hayes, Vice President of Investor Relations. It's a busy morning for everyone, so we'll jump right in. Joining me are Beth McDonald, our President and CEO, Wade Pursell, our Executive Vice President and CFO, and Blake McKenna, our Executive Vice President and COO. Today's discussion will reference forward-looking statements. Please see slide two of our earnings presentation as well as the risk factors section of our most recent Form 10-K for risks and uncertainties that could cause actual results to deter materially. We will also reference non-GAAP financial metrics throughout the call. You can find definitions and reconciliations to the closest comparable GAAP metrics in yesterday's earnings release, Form 10-Q, and in the slide deck available on our website. When we get to Q&A, please limit your inquiries to one question and one follow-up, as this simply allows us to get more of your questions in today. With that, I'll turn it over to Beth. Thanks, Megan. Good morning, everyone. The second quarter was our first full quarter operating as a combined asset. We generated $467 million of adjusted free cash flow, returned $137 million to stockholders, and have now action...