Antero Midstream Q1 2023 Earnings Report
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.
Antero Midstream
Antero Midstream
Antero Midstream 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