Earnings summaries and quarterly performance for Antero Midstream.
Executive leadership at Antero Midstream.
Michael Kennedy
Detailed
Chief Executive Officer and President
CEO
Brendan Krueger
Detailed
Senior Vice President—Finance and Treasurer
Justin Agnew
Detailed
Chief Financial Officer and Vice President—Finance & Investor Relations
Yvette Schultz
Detailed
Chief Compliance Officer, Senior Vice President—Legal, General Counsel and Corporate Secretary
Board of directors at Antero Midstream.
Research analysts who have asked questions during Antero Midstream earnings calls.
Naomi Marfatia
Mizuho Securities USA LLC
3 questions for AM
Also covers: HESM
Jeremy Tonet
JPMorgan Chase & Co.
2 questions for AM
Also covers: AEE, AEP, ARIS +45 more
John Mackay
Goldman Sachs Group, Inc.
2 questions for AM
Also covers: ARIS, CQP, DTM +16 more
Noah Katz
JPMorgan Chase & Co.
2 questions for AM
Also covers: ARIS, EE, HESM +1 more
John McKay
Goldman Sachs
1 question for AM
Also covers: VG
Ned Baramov
Wells Fargo & Company
1 question for AM
Also covers: NGL, SUN, WES
Olivia Halferty
Goldman Sachs
1 question for AM
Also covers: TRP
Wade Suki
Capital One Financial
1 question for AM
Also covers: ARIS, EE, ENLC +5 more
Zackery Van Everen
Tudor, Pickering, Holt & Co.
1 question for AM
Also covers: DTM, EE, ENLC +6 more
Recent press releases and 8-K filings for AM.
Antero Midstream Reports Strong Q3 2025 Financial Results and Strategic Growth
AM
Earnings
Debt Issuance
Share Buyback
- Antero Midstream reported strong Q3 2025 financial performance, with Adjusted EBITDA increasing 10% year over year to $281 million and free cash flow after dividends growing 94% to $78 million.
- The company significantly improved its balance sheet, reducing leverage to 2.7 times as of September 30 and absolute debt by approximately $175 million over the last year, which facilitated a credit rating upgrade and the refinancing of 2027 notes to 2033 at a 5.75% coupon.
- Strategic initiatives included $51 million in capital investment during Q3 2025, bringing the year-to-date total to $133 million (approximately 75% of the budget), and the dedication of 10 new locations to Antero Midstream from Antero Resources' acquisitions, totaling 80 new dedicated locations year-to-date.
- Antero Midstream is also leveraging existing underutilized infrastructure to support Antero Resources' first dry gas Marcellus pad in over a decade, serving as a "proof of concept" for future in-basin demand growth.
- The company maintains a capital allocation strategy focused on a balanced approach of roughly 50/50 between share repurchases and debt reduction.
Oct 30, 2025, 4:00 PM
Antero Midstream Reports Strong Q3 2025 Financial Results and Strategic Investments
AM
Earnings
Debt Issuance
New Projects/Investments
- Antero Midstream reported strong Q3 2025 financial results, with Adjusted EBITDA increasing 10% year over year to $281 million and free cash flow after dividends growing 94% to $78 million.
- The company significantly improved its balance sheet, reducing leverage to 2.7 times as of September 30 and absolute debt by approximately $175 million over the last year, while also refinancing its 2027 maturity notes to 2033 at a 5.75% coupon.
- Capital investments for Q3 2025 totaled $51 million, bringing the year-to-date investment to $133 million, representing approximately 75% of the total budget.
- Strategic initiatives include Antero Resources acquiring approximately $260 million in assets, which dedicated 10 additional locations to Antero Midstream in Q3 (totaling 80 year-to-date), and the company is planning its first dry gas Marcellus pad in over a decade leveraging existing underutilized infrastructure ,.
- The company maintains a balanced capital allocation approach, prioritizing roughly 50/50 between debt reduction and share repurchases.
Oct 30, 2025, 4:00 PM
AM Reports Strong Q3 2025 Financial and Operational Results
AM
Earnings
Debt Issuance
- AM reported a 10% year-over-year increase in Adjusted EBITDA and a 94% year-over-year increase in Free Cash Flow after dividends for Q3 2025.
- The company's leverage ratio improved to 2.7x Net Debt/Adjusted EBITDA as of September 30, 2025, down from 3.0x at year-end 2024.
- Operationally, AM achieved over 99% uptime availability and a 5% year-over-year increase in gathering and compression volumes in Q3 2025.
- AM maintains strong liquidity of over $870 million with no near-term debt maturities, with the next senior notes due in 2027.
Oct 30, 2025, 4:00 PM
Antero Midstream Reports Strong Q3 2025 Financials and Strategic Expansion
AM
Earnings
New Projects/Investments
Share Buyback
- Antero Midstream reported Adjusted EBITDA of $281 million for Q3 2025, marking a 10% increase year-over-year, with gathering compression volumes up 5% and freshwater delivery volumes up almost 30%.
- The company generated $78 million in free cash flow after dividends, a 94% increase compared to the prior year, and reduced its leverage to 2.7x as of September 30th, having decreased absolute debt by approximately $175 million over the last year.
- Capital investments for Q3 2025 totaled $51 million, bringing the year-to-date investment to $133 million, which is approximately 75% of the total budget, including significant investments in water assets.
- Antero Resources acquired approximately $260 million of assets, resulting in 10 additional locations dedicated to Antero Midstream, contributing to a year-to-date total of approximately 80 dedicated locations.
- Antero Midstream is leveraging existing underutilized infrastructure for a new dry gas Marcellus pad, serving as a proof of concept for future in-basin demand growth from data centers and power generation projects.
Oct 30, 2025, 4:00 PM
Antero Midstream Reports Q3 2025 Financial and Operating Results
AM
Earnings
Share Buyback
Debt Issuance
- Antero Midstream reported Net Income of $116 million, or $0.24 per diluted share, representing a 14% per share increase compared to the prior year quarter, and Adjusted EBITDA increased 10% to $281 million.
- Free Cash Flow after dividends significantly increased by 94% to $78 million for the third quarter of 2025.
- The company's leverage declined to 2.7x as of September 30, 2025.
- Antero Midstream repurchased 2.3 million shares for $41 million during the third quarter of 2025, with approximately $385 million of remaining capacity under its share repurchase program.
- Operationally, low pressure gathering and compression volumes both increased by 5%, and fresh water delivery volumes increased by 30% compared to the prior year quarter.
Oct 29, 2025, 8:48 PM
Antero Midstream Announces Third Quarter 2025 Results
AM
Earnings
Share Buyback
Debt Issuance
- Antero Midstream reported Net Income of $116 million ($0.24 per diluted share) and Adjusted EBITDA of $281 million for Q3 2025, representing increases of 14% and 10% respectively, compared to the prior year quarter.
- The company generated $78 million in Free Cash Flow after dividends, a 94% increase year-over-year, while reducing capital expenditures by 9% to $51 million.
- Operational volumes grew, with low pressure gathering and compression volumes increasing by 5% and 6% respectively, and fresh water delivery volumes up 30% compared to the prior year quarter.
- Antero Midstream repurchased 2.3 million shares for $41 million during Q3 2025, contributing to $114 million in share repurchases year-to-date, and reduced its leverage to 2.7x as of September 30, 2025, following a debt refinancing.
Oct 29, 2025, 8:15 PM
Antero Midstream Announces Q3 2025 Dividend, Share Repurchase, and Earnings Release Date
AM
Dividends
Share Buyback
Earnings
- Antero Midstream's Board of Directors declared a cash dividend of $0.225 per share for the third quarter of 2025, which will be payable on November 5, 2025.
- During the third quarter of 2025, the company repurchased approximately 2.3 million shares for about $41.3 million, leaving approximately $385 million of remaining share repurchase capacity as of September 30, 2025.
- The company plans to issue its third quarter 2025 earnings on Wednesday, October 29, 2025, after market close, with a conference call scheduled for Thursday, October 30, 2025, at 10:00 am MT.
Oct 8, 2025, 8:15 PM
Antero Midstream Completes Debt Offering and Announces Executive Compensation Changes
AM
Debt Issuance
Management Change
Executive Compensation
- Antero Midstream Partners LP and Antero Midstream Finance Corporation completed a private placement of $650,000,000 in aggregate principal amount of their 5.75% Senior Notes due 2033 on September 22, 2025, with the proceeds intended to redeem an equal amount of 5.75% senior notes due 2027.
- The new notes are callable at 105.750% of the principal amount for up to 35% of the aggregate principal amount prior to October 15, 2028, and at prices ranging from 102.875% to 100.000% on or after October 15, 2028.
- Michael N. Kennedy was appointed CEO and President, Justin J. Agnew as CFO, and Brendan E. Krueger as Senior Vice President—Finance, effective August 14, 2025, with their new compensation packages approved on September 17, 2025.
- David H. Keyte was approved as Chairman of the Board, effective August 14, 2025, receiving an annual cash retainer of $140,000 ($32,500 plus $107,500) and an annual equity retainer of $260,000.
Sep 22, 2025, 9:51 PM
Quarterly earnings call transcripts for Antero Midstream.
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