Financial Data and Key Metrics Changes - In Q1 2025, the company generated $274 million of EBITDA, representing a 3% year-over-year increase, driven by higher gathering and processing volumes, with processing volumes setting a record at 1.65 Bcf per day [10] - Free cash flow after dividends was $79 million, a 7% increase year-over-year, marking the eleventh consecutive quarter of positive free cash flow after dividends [11] - The company's leverage declined to approximately 2.9 times as of March 31, indicating a strong balance sheet [11][12] Business Line Data and Key Metrics Changes - The company reported an increase in gathering and processing volumes, with expectations for low to mid single-digit year-over-year growth in gathering volumes for 2025 compared to 2024 [10] - The capital expenditures as a percentage of EBITDA stood at 17%, highlighting the company's capital efficiency compared to peers in the midstream industry [12] Market Data and Key Metrics Changes - The Appalachian region is experiencing significant growth in natural gas demand, particularly for power generation and data centers, with expectations for natural gas demand estimates to double by 2030 [8][9] - The percentage of data centers expected to be powered by natural gas has increased from 50% to 70%, indicating a strong market trend [8] Company Strategy and Development Direction - The company is focused on capital efficiency and returning capital to shareholders, with plans to allocate approximately 65% of its EBITDA for dividends, debt reduction, and share repurchases [12][13] - The company is well-positioned for future growth due to its investment-grade upstream counterparties and significant infrastructure in the region [7][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term outlook for natural gas demand, particularly in the Appalachian region, and highlighted ongoing discussions regarding local power demand [19][20] - The medium to long-term outlook for the company is viewed as increasingly positive, with a flexible capital allocation strategy to capitalize on high-return opportunities [14] Other Important Information - The company has achieved significant reuse savings of approximately $30 million at the Torrey's Peak compressor station and over $50 million across all three stations constructed with relocated underutilized units [5] - The company has secured materials and pricing for its capital projects through 2026, minimizing impacts from tariffs and macroeconomic factors [6] Q&A Session Summary Question: Potential for in-basin demand growth - Management noted ongoing discussions about local power demand, particularly for data centers, and expressed confidence in the company's infrastructure to support this growth [18][20] Question: Outlook for propane market - Management reiterated confidence in the long-term outlook for propane, emphasizing its unique position in the market and the steady growth expected in the residential and commercial sectors [21][24] Question: Joint venture outlook and liquid-rich production - Management indicated comfort with current production levels and stated that future evaluations will depend on market prices and long-term outlooks for gas and liquids [25][26] Question: Commercialization of data centers - Management stated that conversations are ongoing regarding infrastructure build-out to meet demand but did not provide specific details at this time [31] Question: Capital allocation strategy - Management confirmed a continued focus on debt reduction and share buybacks while remaining open to M&A opportunities as they arise [32][33] Question: Water service expectations - Management confirmed expectations to service 70 to 75 wells as previously guided, with similar volume levels anticipated for Q2 [43]

First Quarter 2025 Earnings Presentation May 1, 2025 Antero Midstream (NYSE: AM) Legal Disclaimer Forward-Looking Statements: This presentation includes "forward-looking statements." Such forward-looking statements are subject to a number of risks and uncertainties, many of which are not under AM's control. All statements, except for statements of historical fact, made in this presentation regarding activities, events or developments AM expects, believes or anticipates will or may occur in the future, such ...

Antero Midstream Corporation (AM) reported first-quarter 2025 adjusted earnings per share of 28 cents, which beat the Zacks Consensus Estimate of 23 cents. The bottom line increased from 24 cents in the prior-year quarter. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)Total quarterly revenues of $291 million beat the Zacks Consensus Estimate of $281 million. The top line increased from $279 million recorded in the year-ago quarter.The strong quarterly results can be attributed to ...

Group 1 - Antero Midstream (NYSE: AM) is reporting better results than previously anticipated, particularly in terms of free cash flow, which has allowed the company to repurchase common stock [2] - The oil and gas industry is characterized as a boom-bust, cyclical sector, requiring patience and experience for successful investment [2] Group 2 - The analysis provided in the article focuses on the balance sheet, competitive position, and development prospects of oil and gas companies, highlighting the search for undervalued names in the sector [1]

Financial Performance - Antero Midstream reported a net income of $121 million, or $0.25 per diluted share, representing a 19% increase per share compared to the prior year quarter[4]. - Adjusted EBITDA for the first quarter of 2025 was $274 million, a 3% increase year-over-year[15]. - Free Cash Flow after dividends was $79 million, reflecting a 7% increase compared to the prior year quarter[15]. - Revenues for the first quarter were $291 million, with $229 million from the Gathering and Processing segment and $62 million from the Water Handling segment[9]. - Antero Midstream's net income for the three months ended March 31, 2025, was $120,737,000, an increase of 16.1% compared to $103,926,000 for the same period in 2024[36]. - Total revenue for the three months ended March 31, 2025, was $291,129,000, up from $279,051,000 in the same period of 2024, representing a growth of 4.0%[36]. - Operating income for the three months ended March 31, 2025, was $177.223 million, up from $170.401 million in the same period of 2024[41]. - Cash flows provided by operating activities for the three months ended March 31, 2025, were $198.942 million, compared to $210.561 million in the same period of 2024[43]. - Total operating expenses for the three months ended March 31, 2025, were $113.906 million, compared to $58.345 million in the same period of 2024[41]. - The company incurred interest expense of $48.410 million for the three months ended March 31, 2025[41]. - Cash paid for interest during the period was $65.272 million for the three months ended March 31, 2025[43]. - Dividends to common stockholders increased to $112.615 million for the three months ended March 31, 2025, from $107.918 million in the same period of 2024[43]. Capital Expenditures and Investments - Capital expenditures increased by 25% year-over-year to $37 million, with $23 million allocated to gathering and compression and $12 million to water infrastructure[19]. - The company repurchased 1.7 million shares for $29 million, with approximately $443 million remaining under its $500 million share repurchase program[5]. - The company repurchased $28.569 million in common stock during the three months ended March 31, 2025[43]. - Net cash used in investing activities for the three months ended March 31, 2025, was $32.271 million, compared to $37.123 million in the same period of 2024[43]. Operational Metrics - Low pressure gathering volumes averaged 3,348 MMcf/d, a 1% increase from the prior year quarter, while high pressure gathering volumes increased by 5% to 3,106 MMcf/d[6]. - Fresh water delivery volumes averaged 105 MBbl/d, a 7% decrease compared to the prior year quarter[6]. - The company serviced 28 wells with fresh water delivery in the first quarter of 2025, an increase of 65% from 17 wells in the same period of 2024[38]. - The average compression fee increased by 5% to $0.22 per Mcf for the three months ended March 31, 2025[38]. - Gathering—high pressure volumes increased by 4% to 279,579 MMcf for the three months ended March 31, 2025[38]. Balance Sheet and Financial Position - Leverage ratio as of March 31, 2025, was 2.95x, indicating a strong balance sheet[4]. - Total current assets rose to $127,652,000 as of March 31, 2025, compared to $118,064,000 as of December 31, 2024[34]. - Long-term debt decreased slightly to $3,110,975,000 as of March 31, 2025, from $3,116,958,000 as of December 31, 2024[34]. - Antero Midstream's total assets were $5,752,118,000 as of March 31, 2025, compared to $5,761,748,000 as of December 31, 2024[34]. Future Outlook - The company anticipates continued growth in demand for its services due to Antero Resources' expected production increases[30].

Revenue Growth - Total revenues increased by 4%, from $279 million for the three months ended March 31, 2024 to $291 million for the three months ended March 31, 2025[130] - Gathering and processing revenues increased by 5%, from $218 million to $229 million during the same period[130] - Water handling revenues increased by 3%, from $61 million to $62 million for the three months ended March 31, 2025[130] - Low pressure gathering revenue increased by $2 million due to increased rates and throughput volumes of 1 Bcf, or 47 MMcf/d[130] - Compression revenue increased by $3 million, driven by increased rates and throughput volumes of 3 Bcf, or 70 MMcf/d[130] - High pressure gathering revenue increased by $6 million, attributed to increased rates and throughput volumes of 10 Bcf, or 140 MMcf/d[130] Share Repurchase and Dividends - The company repurchased approximately 2 million shares for a total cost of $29 million, with $443 million remaining under the share repurchase program[116] - The company declared a cash dividend of $0.2250 per share for the quarter ended March 31, 2025, payable on May 7, 2025[140] Operating Performance - Operating income for the three months ended March 31, 2025 was $177.2 million, compared to $166.3 million for the same period in 2024[130] - Direct operating expenses increased by 5%, from $54 million for the three months ended March 31, 2024 to $57 million for the three months ended March 31, 2025[132] - Equity-based compensation expenses rose by 33%, from $9 million for the three months ended March 31, 2024 to $12 million for the three months ended March 31, 2025[134] - Depreciation expense decreased by 12%, from $37 million for the three months ended March 31, 2024 to $33 million for the three months ended March 31, 2025[135] - Interest expense decreased by 9%, from $53 million for the three months ended March 31, 2024 to $48 million for the three months ended March 31, 2025[136] Cash Flow and Capital Expenditures - Net cash provided by operating activities was $210.6 million for the three months ended March 31, 2024, decreasing to $198.9 million for the same period in 2025[143] - Total capital expenditures increased from $29.8 million for the three months ended March 31, 2024 to $37.3 million for the same period in 2025[147] - The company announced a capital budget for 2025 ranging from $170 million to $200 million to support Antero Resources' maintenance capital program[146] Market Outlook - The company expects commodity prices to remain volatile but does not anticipate significant variability in throughput volumes due to Antero Resources' improved liquidity[117] Fresh Water Delivery - Fresh water delivery revenue decreased by $3 million due to a reduction in delivery volumes of 1 MMBbl, or 8 MBbl/d[139] Borrowings - As of March 31, 2025, the company had $477 million of borrowings under the Credit Facility, with no letters of credit outstanding[152]

DENVER, April 30, 2025 /PRNewswire/ -- Antero Midstream Corporation (NYSE: AM) ("Antero Midstream" or the "Company") today announced its first quarter 2025 financial and operating results.  The relevant unaudited condensed consolidated financial statements are included in Antero Midstream's Quarterly Report on Form 10-Q for the three months ended March 31, 2025.First Quarter 2025 Highlights: Low pressure gathering and processing volumes increased by 1% and 3%, respectively, compared to the prior year quarte ...

Signature of the Rafale Marine contract for India Saint-Cloud, France, April 28, 2025 – The Inter-Governmental Agreement between India and France has been signed today allowing the signature, in the presence of the Chairman and CEO of Dassault Aviation, Éric Trappier, of the contract for India's acquisition of 26 Rafale Marine to equip the Indian Navy. This contract follows the announcement in July 2023 of the selection of the Rafale Marine, for which the Indian Navy will be the first user outside France, a ...

Company Overview - Dassault Aviation has delivered over 10,000 military and civil aircraft, including 2,700 Falcons, in more than 90 countries over the last century, establishing a recognized expertise in aircraft design, production, sale, and support [6] - In 2024, Dassault Aviation reported revenues of €6.2 billion and employs nearly 14,600 individuals [6] General Meeting Details - The Combined General Meeting is scheduled for Friday, 16 May 2025, at 3 PM at the registered office located at 9, Rond-Point des Champs-Élysées - Marcel Dassault - Paris (75008) [1] - The meeting notice, including the agenda and resolutions from the Board of Directors, was published on 9 April 2025 in the French official legal announcement publication [2] - Shareholders can obtain documents related to the General Meeting from Société Générale Securities Services upon request, starting from 28 April 2025 [3] - Shareholders holding bearer shares must provide a certificate from their authorized intermediary to obtain the necessary documents [4] - The 2024 Annual Report is available for shareholders and can be consulted at the registered office within the statutory deadline [5]

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