Welcome to our dedicated page for Antero Midstream news (Ticker: AM), a resource for investors and traders seeking the latest updates and insights on Antero Midstream stock.
Antero Midstream Corporation reports news on its Appalachian Basin midstream business, including gathering, compression, processing and fractionation assets and integrated water assets that primarily service Antero Resources Corporation properties. Recurring updates cover operating volumes, capital expenditures, leverage, Adjusted EBITDA, free cash flow, annual guidance and the relationship between production activity and midstream throughput.
Company news also includes return-of-capital actions such as cash dividends and share repurchases, along with acquisition integration, asset transactions and other corporate finance developments tied to the company's midstream infrastructure portfolio.
Antero Midstream Corporation (NYSE: AM) has priced a private placement of $550 million in 7.875% senior unsecured notes due in 2026. The offering, set to close on November 10, 2020, will generate approximately $544 million after expenses, with funds intended to repay a portion of existing borrowings. The notes are not registered under the Securities Act and are expected to be eligible for trading under Rule 144A and Regulation S. The company operates midstream assets primarily in West Virginia and Ohio.
Antero Midstream Corporation (NYSE: AM) announced a proposed offering of $400 million in senior unsecured notes due 2026, subject to market conditions. The offering aims to raise funds to repay outstanding borrowings under its credit facility. The notes will be offered privately, only to eligible institutional buyers under Rule 144A and Regulation S of the Securities Act. This announcement excludes an intent to sell or solicit offers in jurisdictions where it is illegal.
On October 29, 2020, Antero Resources Corporation (NYSE: AR) announced plans to redeem all outstanding 5.375% senior notes due 2021 on November 30, 2020. The redemption will include the principal amount plus accrued interest. Funding for this redemption will come from a combination of asset sales, operational cash flow, and available credit. This strategic move underscores the company's efforts to manage its debt effectively while enhancing its financial position in the natural gas sector.
Antero Midstream Corporation (NYSE: AM) announced its Q3 2020 financial results, reporting a net income of $106 million ($0.22 per share), a significant recovery from a net loss of $(0.57) per share last year. Adjusted Net Income rose to $120 million ($0.25 per share), up 65% YoY. Adjusted EBITDA grew 5% to $229 million, while capital expenditures plummeted 77% to $37 million. The company increased its Free Cash Flow guidance to $485-$495 million, reflecting a 23% rise from earlier projections. Antero Midstream's ongoing commitment to sustainability was highlighted in its first Corporate Sustainability Report.
Antero Resources Corporation (NYSE: AR) reported its third-quarter 2020 results, highlighting a net production of 3,772 MMcfe/d, with a significant component being 220,000 Bbl/d of liquids. The company faced a net loss of $536 million, influenced by a $749 million unrealized commodity hedge loss due to a rise in natural gas prices. Adjusted EBITDAX stood at $272 million and net cash from operations reached $176 million. The firm made progress on debt reduction, repurchasing $461 million in senior notes, and aims to generate $175-$200 million in free cash flow in H2 2020.
Antero Midstream Corporation (NYSE: AM) declared a cash dividend of $0.3075 per share for Q3 2020, maintaining the same rate as Q2 2020. This marks the 23rd consecutive quarterly dividend since its IPO in November 2014. The dividend is payable on November 12, 2020, to shareholders of record by October 29, 2020. Antero plans to release its Q3 2020 earnings on October 28, 2020, and hold a conference call on October 29, 2020.
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Antero Midstream Corporation (NYSE: AM) reported its Q2 2020 financial results, highlighting a net income of $88 million ($0.19 per share), a 36% year-over-year increase. Adjusted Net Income also rose 36% to $106 million ($0.22 per share). Free Cash Flow significantly improved to $108 million from $15 million the previous year, driven by a 63% reduction in capital expenditures to $59 million. The company updated its 2020 capital budget to $200-$215 million and raised its Free Cash Flow guidance to $445-$475 million, reflecting enhanced financial flexibility amidst the COVID-19 pandemic.
Antero Midstream Corporation (NYSE: AM) declared a cash dividend of $0.3075 per share for Q2 2020, maintaining the same amount as Q1 2020. The dividend will be payable on August 12, 2020, to stockholders of record as of July 30, 2020. This marks the 22nd consecutive quarterly dividend since the company’s IPO in November 2014. Additionally, Antero Midstream repurchased approximately 3.2 million shares for about $8.9 million during the second quarter, with $150 million remaining under its $300 million share repurchase authorization.