AM
Antero Midstream Corporation17.66
-0.34-1.89%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Extends growth past 2027
Q&A stretched the growth outlook past 2027, with mid-to-high single-digit EBITDA expansion from Antero Resources' three-rig, two-crew program adding a couple hundred MMcf/d throughput. No extra capital needed for that upside—trunk lines, water systems, and dry gas setup already cover it. This sharpens the HG acquisition's efficiency edge over prepared remarks. Goldman Sachs probed longevity; Kennedy answered crisply. Existing infrastructure fuels the run.
Key Stats
Market Cap
8.45BP/E (TTM)
18.02Basic EPS (TTM)
0.98Dividend Yield
0.05%Recent Filings
8-K
Closes $400M Utica assets sale
Antero Midstream's subsidiaries closed the sale of substantially all Utica Shale midstream assets to affiliates of Infinity Natural Resources and NOG on February 23, 2026, for $400 million in cash, subject to post-closing adjustments. Deal streamlines focus beyond Utica. Cash bolsters balance sheet.
8-K
Q4 results, 2026 guidance out
Antero Midstream reported Q4 2025 net income of $52 million, down sharply from prior year due to $87 million Utica Shale asset write-down, yet Adjusted EBITDA climbed 4% to $285 million on 5% volume growth. Leverage hit 2.7x after repurchasing 2.7 million shares for $48 million. 2026 guidance eyes $1.19-$1.24 billion Adjusted EBITDA, up 8%, post HG Midstream acquisition close.
10-K
FY2025 results
Antero Midstream delivered steady FY2025 results, with gathering and processing revenues up 7% to $950M on 4-5% volume gains across low/high pressure and compression, while water handling climbed 10% to $238M from 2% fresh water and 6% other fluid growth (derived). Q4 momentum accelerated via 78 new wells tied in, lifting average daily throughput despite natural declines, yet direct operating costs rose 6% on maintenance and volumes. Net income hit $413M after $87M Utica divestiture loss; free cash flow funded $439M dividends and $135M buybacks, trimming debt via note refinancings. HG Acquisition closed February 2026 adds Marcellus midstream; Utica sale pending. Customer concentration risks Antero Resources' output.
8-K
Closes $1.1B midstream acquisition
Antero Midstream Partners closed its $1.1 billion cash acquisition of HG Energy II Midstream Holdings from HG Energy on February 3, 2026, per the December 5, 2025 Purchase Agreement. Parties amended annexes on December 22, 2025, tweaking lease and mineral details. Deal expands midstream assets. Amendment details omitted per Reg S-K.
8-K
Closes $600M notes offering
Antero Midstream's subsidiaries closed a $600 million upsized private placement of 5.750% senior notes due 2034 on December 23, 2025. Proceeds, plus credit facility draws and Utica asset sale cash, fund the HG Energy II Midstream acquisition. Notes face special mandatory redemption if the deal misses its June 2, 2026 outside date. Debt commitments terminated.
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