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Mar 31, 2023
Antero Midstream Q1 2023 Earnings Report
Antero Midstream reported strong first quarter results driven by record throughput and increased earnings, with free cash flow after dividends improving significantly year-over-year.
Key Takeaways
Antero Midstream announced its first quarter 2023 financial results, with revenues of $259 million and net income of $87 million, or $0.18 per diluted share. Adjusted EBITDA was $242 million, a 16% increase compared to the prior year quarter. Free Cash Flow after dividends was $46 million, an $84 million improvement from the first quarter of 2022.
Low pressure gathering volumes increased by 8% year-over-year, averaging 3,171 MMcf/d.
Fresh water delivery volumes increased by 41% year-over-year, averaging 123 MBbl/d.
Adjusted EBITDA increased by 16% year-over-year to $242 million.
Free Cash Flow after dividends was $46 million, an $84 million improvement from the first quarter of 2022.
Revenue by Segment
Forward Guidance
Antero Midstream expects higher Adjusted EBITDA and a lower capital budget to result in a $35 million increase to Free Cash Flow after dividends, reflecting a 33% increase to the midpoint of the previous guidance range.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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