Financial Performance - Antero Midstream Corporation reported fourth-quarter 2024 adjusted earnings per share of 26 cents, exceeding the Zacks Consensus Estimate of 23 cents, and an increase from 24 cents in the prior-year quarter [1] - Total quarterly revenues reached $287 million, surpassing the Zacks Consensus Estimate of $270 million, and up from $260 million recorded in the year-ago quarter [1] Operational Performance - Average daily compression volumes were 3,266 million cubic feet (MMcf/d), down from 3,343 MMcf/d in the year-ago quarter and below the estimate of 3,358 MMcf/d, with a compression fee of 21 cents per Mcf, remaining flat year over year [3] - High-pressure gathering volumes totaled 3,045 MMcf/d, slightly down from 3,047 MMcf/d a year ago and below the estimate of 3,057 MMcf/d, with an average fee of 23 cents per Mcf, higher than the prior year's 21 cents [4] - Low-pressure gathering volumes averaged 3,276 MMcf/d, down from 3,377 MMcf/d a year ago and below the estimate of 3,346 MMcf/d, with an average fee of 36 cents per Mcf, up from 35 cents in the prior year [5] - Freshwater delivery volumes were 114 MBbls/d, up approximately 21% from 94 MBbls/d a year ago, with an average distribution fee of $4.31 per barrel, compared to $4.22 a year ago [6] Operating Expenses - Direct operating expenses amounted to $55.9 million, an increase from $50.8 million recorded a year ago, with total operating expenses reaching $109.7 million, up from $104.5 million in the corresponding period of 2023 [7] Balance Sheet - As of December 31, 2024, the company had no cash and cash equivalents and reported long-term debt of $3,116.9 million [8] Outlook - Antero Midstream projects net income in the range of $445-$485 million and adjusted net income between $500-$540 million, with a capital budget for 2025 expected to be in the $170-$200 million range [9]

Core Insights - Antero Midstream Corporation reported a revenue of $287.48 million for the quarter ended December 2024, reflecting a 10.5% increase year-over-year, and an EPS of $0.23, slightly down from $0.24 in the previous year [1] - The revenue exceeded the Zacks Consensus Estimate of $269.66 million by 6.61%, while the EPS met the consensus estimate [1] Financial Performance Metrics - Average Daily Volumes for Low Pressure Gathering were 3,276 million cubic feet, surpassing the estimated 3,266.05 million cubic feet [4] - Average Daily Volumes for High Pressure Gathering reached 3,045 million cubic feet, compared to the estimated 3,039.88 million cubic feet [4] - Average Daily Volumes for Compression were 3,266 million cubic feet, exceeding the estimate of 3,226.01 million cubic feet [4] - Average Daily Volumes for Fresh Water Delivery were 114 million barrels of oil, significantly higher than the estimated 82.41 million barrels [4] - Average Daily Volumes for Other Fluid Handling were 51 million barrels of oil, slightly below the estimated 55.08 million barrels [4] Revenue Breakdown - Revenues from Water Handling for Antero Resources were $70.05 million, exceeding the estimate of $57.65 million, marking a 15.6% increase year-over-year [4] - Revenues from Gathering and Processing for Antero Resources were $234.63 million, above the estimated $231.73 million, reflecting an 8.3% year-over-year increase [4] - Revenues from Gathering and Processing were reported at $225.36 million, surpassing the estimate of $218.89 million, with an 8.6% year-over-year change [4] - Revenues from Water Handling were $62.12 million, exceeding the estimate of $51.31 million, representing a 17.8% increase year-over-year [4] - Amortization of customer relationships reported at -$17.67 million, slightly better than the estimate of -$18.11 million, with no year-over-year change [4] Stock Performance - Antero Midstream's shares returned -0.1% over the past month, while the Zacks S&P 500 composite increased by 4.3% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Financial Performance - Net Income for Q4 2024 was $111 million, or $0.23 per diluted share, a 10% increase per share compared to the prior year quarter[4] - Adjusted EBITDA for Q4 2024 was $274 million, an 8% increase compared to the prior year quarter[4] - Free Cash Flow after dividends for Q4 2024 was $93 million, a 91% increase compared to the prior year quarter[4] - Full year 2024 Free Cash Flow after dividends was $250 million, a 61% increase compared to the prior year[4] - 2025 guidance forecasts Net Income of $445 to $485 million, representing GAAP earnings of $0.92 to $1.00 per share[6] - Adjusted EBITDA for 2025 is projected to be $1.08 to $1.12 billion, a 5% increase compared to 2024 at the midpoint[6] - Adjusted EBITDA for the year ended December 31, 2023, was $989,192, increasing to $1,051,074 for 2024, representing a growth of approximately 6.3%[28] - Net Income for 2023 was $371,786, projected to increase to $400,892 in 2024, reflecting a growth of approximately 7.8%[28] - Cash flows from operating activities for 2024 were $843,994,000, an increase from $779,063,000 in 2023[42] Capital Expenditures and Debt - Capital expenditures for 2025 are estimated to be between $170 to $200 million[7] - Capital expenditures on an accrual basis decreased from $184,994 in 2023 to $161,324 in 2024, a decline of approximately 12.8%[29] - Consolidated total debt decreased from $3,230,100 in 2023 to $3,134,300 in 2024, a reduction of about 3%[28] - The company’s leverage, defined as Net Debt divided by Adjusted EBITDA, is a key indicator of financial leverage[27] Free Cash Flow - The company expects Free Cash Flow after dividends of $250 to $300 million for 2025, a 10% increase compared to 2024 at the midpoint[8] - Free Cash Flow before dividends rose from $586,953 in 2023 to $682,723 in 2024, indicating an increase of about 16.3%[29] - The company reported a Free Cash Flow after dividends of $155,226 in 2023, expected to rise to $250,127 in 2024, an increase of about 61.1%[29] Revenue and Operating Metrics - Total revenue for Q4 2024 increased to $287,477,000, up 10.5% from $260,170,000 in Q4 2023[35] - Operating income for Q4 2024 was $177,735,000, a 14.2% increase from $155,681,000 in Q4 2023[35] - Total operating expenses for Q4 2024 were $109,742,000, up from $104,489,000 in Q4 2023, reflecting a 5.4% increase[35] - Interest expense decreased to $49,721,000 in Q4 2024, down from $52,000,000 in Q4 2023[35] Fresh Water Delivery - Fresh water delivery volumes averaged 114 MBbl/d in Q4 2024, a 21% increase compared to the prior year quarter[10] - Fresh water delivery volumes rose by 21% to 10,476 MBbl in Q4 2024, compared to 8,627 MBbl in Q4 2023[37] - The number of wells serviced by fresh water delivery increased by 7% to 16 in Q4 2024, compared to 15 in Q4 2023[37] - Average gathering-low pressure fee increased by 3% to $0.36 per Mcf in Q4 2024, from $0.35 per Mcf in Q4 2023[37] Share Repurchase and Investments - Antero Midstream repurchased 1.9 million shares for $29 million during Q4 2024[5] - Antero Midstream's investments in unconsolidated affiliates were valued at $626,650 in 2023, decreasing to $603,956 in 2024[34] Assets and Cash Position - Total assets increased slightly from $5,737,618 in 2023 to $5,761,748 in 2024[34] - Cash and cash equivalents were reported at $66 in 2023, with no cash reported for 2024[34] Future Plans - The company plans to continue expanding its water handling services and enhancing operational efficiencies in the upcoming quarters[35]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 001-38075 ANTERO MIDSTREAM CORPORATION (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 6 ...

Core Viewpoint - Antero Midstream Corporation reported record financial and operational results for 2024, with significant growth in throughput, net income, adjusted EBITDA, and free cash flow, while also reducing debt and initiating a share repurchase program [2][4][6]. Fourth Quarter 2024 Highlights - Net income for Q4 2024 was $111 million, or $0.23 per diluted share, reflecting a 10% increase per share compared to the prior year [7][14]. - Adjusted net income was $124 million, or $0.26 per diluted share, an 8% increase per share year-over-year [7][14]. - Adjusted EBITDA reached $274 million, marking an 8% increase from the previous year [7][17]. - Free cash flow after dividends was $93 million, a substantial 91% increase compared to the prior year [7][17]. - Capital expenditures for Q4 2024 were $24 million, a 47% decrease from the prior year [7][17]. Full Year 2024 Highlights - Total net income for 2024 was $401 million, or $0.83 per diluted share, an 8% increase compared to the previous year [7][14]. - Adjusted EBITDA for the full year was $1.05 billion, a 6% increase year-over-year [7][14]. - Free cash flow after dividends for 2024 was $250 million, a 61% increase compared to the previous year [7][14]. - The company reduced its absolute debt by nearly $100 million, achieving a leverage ratio below 3.0x [2][4]. 2025 Guidance Highlights - Antero Midstream forecasts net income between $445 million and $485 million for 2025, with adjusted net income projected between $500 million and $540 million [4][6]. - Adjusted EBITDA is expected to be between $1.08 billion and $1.12 billion, representing a 5% increase at the midpoint compared to 2024 [4][6]. - The company anticipates free cash flow before dividends of $690 million to $730 million, and free cash flow after dividends of $250 million to $300 million, indicating a 10% increase at the midpoint compared to 2024 [6][7]. - Capital expenditures are projected to be between $170 million and $200 million, with significant investments in gathering and compression infrastructure as well as water infrastructure [5][6]. Share Repurchases - In Q4 2024, Antero Midstream repurchased 1.9 million shares for $29 million, with approximately $471 million remaining under its $500 million authorized share repurchase program as of December 31, 2024 [3][4]. Operational Update - During Q4 2024, the company connected 5 wells to its gathering system and serviced 16 wells with its fresh water delivery system [21]. - Low pressure gathering volumes averaged 3,276 MMcf/d, a 3% decrease year-over-year, while fresh water delivery volumes increased by 21% to an average of 114 MBbl/d [8][11].

Analysts on Wall Street project that Antero Midstream Corporation (AM) will announce quarterly earnings of $0.23 per share in its forthcoming report, representing a decline of 4.2% year over year. Revenues are projected to reach $269.66 million, increasing 3.7% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 1.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections dur ...

For Immediate Releases  Chicago, IL – February 7, 2025 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include, Permian Resources Corp. (PR) , Antero Midstream Corp. (AM) , TC Energy Corp. (TRP) and Antero Resources Corp. (AR) .Here are highlights from Friday’s Analyst Blog:3 Energy Stocks Positioned to Surpass Earnings Estima ...

As the fourth-quarter earnings season has commenced, major oil companies are yet to report their results. Given the stronger pricing environment, most energy players, including Permian Resources Corporation (PR) , are expected to deliver better-than-anticipated results. Midstream stocks such as Antero Midstream Corporation (AM) and TC Energy Corporation (TRP) are also drawing attention. By emphasizing high-return investments and enhancing production efficiency, oil and gas companies have positioned themselv ...

DASSAULT AVIATION French corporation (société anonyme) with a share capital of 62,876,448.80 euros Headquarters: 9, Rond-Point des Champs-Élysées - Marcel Dassault 75008 PARIS 712 042 456 RCS Paris Information concerning the total number of voting rights and shares as per article L. 233-8 II of the French Commercial Code (Code de commerce) and article 223-16 of the General Regulations (Règlement Général) of the French Market Authority (Autorité des Marchés Financiers) DateTotal number of shares Total number ...

Join iREIT on Alpha today to get the most in-depth research that includes REITs, mREITs, Preferreds, BDCs, MLPs, ETFs, and other income alternatives. 438 testimonials and most are 5 stars. Nothing to lose with our FREE 2-week trial .What we're looking at below is an overview of the biggest single-day market cap losses. We notice a few things:Analyst’s Disclosure: I/we have a beneficial long position in the shares of AM, LB either through stock ownership, options, or other derivatives. I wrote this article m ...