Antero Midstream Corp
NYSE:AM

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Antero Midstream Corp Logo
Antero Midstream Corp
NYSE:AM
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Price: 18.47 USD 1.37% Market Closed
Market Cap: 8.8B USD

Antero Midstream Corp
Investor Relations

In the bustling world of energy infrastructure, Antero Midstream Corp. has carved out a crucial niche for itself, operating at the heart of the natural gas value chain. The company emerged as a key partner to Antero Resources, anchoring its business model on gathering and processing services in the prolific Appalachian Basin. By focusing on transporting hydrocarbons from the wellhead to larger pipeline systems, Antero Midstream ensures the vital flow of natural gas and natural gas liquids (NGLs). Its strategically located assets allow it to efficiently gather, compress, and process the natural gas, ultimately delivering it to market hubs where it can be further distributed or stored—a testament to its integral role in the energy supply ecosystem.

Financially, Antero Midstream thrives on the cash flow stability that comes from long-term, fee-based contracts. This model shields the company from the volatility often associated with commodity prices. Its revenue streams are diversified across water handling and treatment services, crucial for the hydraulic fracturing process. The company’s dedication to environmental stewardship has also seen it increasingly focus on sustainable water management solutions, a move that not only enhances its operational efficiency but also strengthens its ESG credentials. By aligning its operations with the evolving regulatory and environmental landscape, Antero Midstream positions itself as a forward-thinking player in the midstream sector, committed to both growth and sustainability.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Oct 30, 2025
AI Summary
Q3 2025

Strong EBITDA Growth: Adjusted EBITDA rose 10% year-over-year to $281 million, driven by higher gathering, processing, and water delivery volumes.

Free Cash Flow Surge: Free cash flow after dividends jumped 94% year-over-year to $78 million, enabling both debt reduction and share repurchases.

Leverage Reduction: Leverage declined to 2.7x as of September 30, reflecting continued debt repayment and financial discipline.

Liquidity & Refinancing: Debt refinancing extended maturities to 2033 at a 5.75% coupon, and liquidity now exceeds $870 million with no near-term maturities.

Strategic Asset Expansion: AR acquired roughly $260 million of core Marcellus assets and added about 80 new locations dedicated to AM year-to-date.

Capital Allocation: Management maintains a balanced approach between debt reduction and share repurchases going forward.

Dry Gas Optionality: AM is testing its first dry gas pad in a decade as a proof of concept, aiming to unlock underutilized asset value and future growth opportunities.

Key Financials
Adjusted EBITDA
$281 million
Free Cash Flow After Dividends
$78 million
Leverage
2.7x
Capital Investment (Q3)
$51 million
Year-to-Date Capital Investment
$133 million
Liquidity
Over $870 million
Debt Reduction (last year)
$175 million
Gathering and Compression Volumes
Increased by 5% year-over-year
Freshwater Delivery Volumes
Increased by almost 30% year-over-year
Earnings Call Recording
Other Earnings Calls

Management

Mr. Paul M. Rady
President, Chairman & CEO
No Bio Available
Mr. Michael N. Kennedy
Senior VP of Finance & Director
No Bio Available
Ms. Yvette K. Schultz J.D.
Senior VP of Legal, Chief Compliance Officer, General Counsel & Secretary
No Bio Available
Mr. Jon S. McEvers
Senior Vice President of Operations
No Bio Available
Ms. Sheri L. Pearce
Senior VP of Accounting & Chief Accounting Officer
No Bio Available
Mr. W. Patrick Ash
Senior Vice President of Reserves, Planning & Midstream
No Bio Available
Mr. Steven M. Woodward
Senior Vice President of Business Development
No Bio Available
Mr. J. Kevin Ellis
Regional Senior Vice President
No Bio Available
Mr. Robert H. Krcek
Senior Vice President of Midstream
No Bio Available
Mr. Timothy J. C. Rady
Senior Vice President of Land
No Bio Available

Contacts

Address
COLORADO
Denver
1615 Wynkoop St
Contacts