Antero Midstream Corp Stock Price, News & Analysis

On February 15, 2023, Antero Resources (NYSE: AR) announced its fourth quarter and year-end 2022 financial results, highlighting a net income of $730 million and an adjusted net income of $328 million. The company reduced its total debt by $942 million, resulting in a long-term debt of $1.18 billion. Antero's estimated proved reserves increased to 17.8 Tcfe, with a 5% rise in proved developed reserves. For 2023, Antero plans a capital budget of $875 to $925 million, targeting net production of 3.25 to 3.3 Bcfe/d. The company aims to return 50% of free cash flow to shareholders, continuing its strategy of shareholder capital return and debt reduction.

Antero Midstream Corporation (NYSE: AM) reported its fourth quarter 2022 financial results, highlighting a net income of $83 million ($0.17 per share), a 6% increase year-over-year. Adjusted EBITDA grew 9% to $231 million, while capital expenditures dropped 22% to $63 million. For 2023, Antero projects net income of $340 to $380 million and adjusted EBITDA of $930 to $970 million, with capital expenditures forecasted to be $195 to $215 million, down 23% year-on-year. The company also reported a favorable $309 million lawsuit ruling in its favor. Overall, Antero aims for a mid-to-high single-digit throughput growth and expects significant free cash flow generation.

Antero Midstream Corporation (NYSE: AM) declared a cash dividend of $0.225 per share for Q4 2022, amounting to $0.90 annually. This dividend, the 33rd consecutive one since its IPO in November 2014, will be payable on February 8, 2023, to shareholders of record by January 25, 2023. The company also has $150 million remaining in its $300 million share repurchase program. Q4 2022 earnings will be released on February 15, 2023, with a conference call scheduled for February 16.

Antero Resources (NYSE: AR) has announced that it will release its fourth quarter 2022 earnings on February 15, 2023, after the market closes. A conference call to discuss financial and operational results will take place on February 16, 2023, at 9:00 am MT. Analysts can participate by calling 877-407-9079 (U.S.) or 201-493-6746 (International). The call will include a Q&A session, and a replay will be available until February 23, 2023. For more information, visit www.anteroresources.com.

Antero Midstream Corporation (NYSE: AM) appointed Nancy E. Chisholm as a Class III director effective December 5, 2022. This addition increases the Board's size to nine members, with seven being independent directors. Chisholm brings over 25 years of experience, notably as President of Tyco Retail Solutions, where she led various global operations. Her leadership in operational and human resources will be instrumental as Antero Midstream focuses on its organic investment strategy. Paul Rady, Chairman and CEO, expressed confidence in her ability to enhance shareholder value.

Antero Midstream Corporation (NYSE: AM) reported its third quarter 2022 results, posting a net income of $84 million ($0.17/share) and adjusted net income of $96 million ($0.20/share). The company generated $30 million in free cash flow after dividends, a significant improvement from a $13 million deficit last year. Antero closed a $205 million acquisition of gathering and compression assets, increasing compression capacity by 20% and pipeline mileage by 15%. Revenues reached $231 million, with a slight increase in low-pressure gathering volumes by 3% year-over-year.

Antero Midstream has declared a cash dividend of $0.225 per share for Q3 2022, equating to $0.90 annually. This marks the 32nd consecutive quarterly dividend since its IPO in November 2014. The dividend is payable on November 9, 2022, to stockholders of record by October 26, 2022. Additionally, the company is set to release its Q3 earnings on October 26, 2022, followed by a conference call on October 27, 2022. Antero Midstream has $150 million remaining in its share repurchase program of $300 million.

Antero Midstream Corporation (NYSE: AM) announced a definitive agreement to acquire Marcellus Shale gas gathering and compression assets from Crestwood Equity Partners LP (NYSE: CEQP) for $205 million in cash. The deal is expected to close in Q4 2022, pending regulatory approval. This acquisition is projected to enhance Free Cash Flow by over 10% after dividends through 2026, adding 425 undeveloped drilling locations and increasing compression capacity by 20%. The transaction also identifies $50 million in future capital savings and synergies, resulting in a favorable adjusted transaction multiple of 4.5x EBITDA.

Crestwood Equity Partners LP (NYSE: CEQP) announced the sale of its Marcellus natural gas gathering and compression assets to Antero Midstream Corporation (NYSE: AM) for $205 million in cash. This divestiture, generating over 7 times 2023E Adjusted EBITDA, reflects Crestwood's strategy to focus on its core operations in the Williston, Delaware, and Powder River basins. The proceeds will enhance financial flexibility through debt reduction and unit repurchases. The transaction is expected to close in Q4, pending regulatory approvals.