Antero Midstream Corp Stock Price, News & Analysis

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.

Antero Midstream Corporation (NYSE: AM) reported its second quarter 2022 financial results, showing a net income of $79 million ($0.17 per share), consistent with the prior year. Adjusted net income reached $96 million ($0.20 per share). Key figures included adjusted EBITDA of $221 million and free cash flow before dividends of $105 million. Low pressure gathering volumes grew by 3%, while fresh water delivery volumes increased by 6%. The company placed the Castle Peak compressor station into service, enhancing capacity in the Marcellus shale. Overall, operational efficiency is expected to drive future EBITDA growth.

Antero Midstream Corporation (NYSE: AM) announced a cash dividend of $0.225 per share for Q2 2022, amounting to $0.90 annually. This marks the 31st consecutive quarterly dividend since its IPO in November 2014. The dividend will be paid on August 10, 2022, to stockholders of record as of July 27, 2022. Furthermore, Antero Midstream plans to report its Q2 2022 earnings on July 27, 2022, followed by a conference call on July 28, 2022.

Antero Resources (NYSE: AR) will release its second quarter 2022 earnings on July 27, 2022, after market close. The company has scheduled a conference call for July 28, 2022, at 9:00 am MT to discuss the results, followed by a Q&A session for analysts. Participants can join via phone or online, with replay options available until August 4, 2022. Antero, based in the Appalachian Basin, specializes in natural gas and liquids, and partners with Antero Midstream (NYSE: AM) for integrated operations.

Antero Midstream Corporation (NYSE: AM) reported its Q1 2022 financial results, revealing a net income of $80 million, equivalent to $0.17 per share. Adjusted net income fell to $93 million or $0.19 per share, down from $101 million a year prior. Adjusted EBITDA was $209 million, while capital expenditures surged to $95 million, marking a 216% increase year over year. Despite a decline in fresh water delivery volumes by 16%, low pressure gathering volumes rose by 3% to an average of 2,930 MMcf/d. The company projects stable growth with controlled capital spending and inflation mitigation strategies.