Antero Midstream Q3 2020 Earnings Report
Key Takeaways
Antero Midstream reported record volumes in Q3 2020, driven by Antero Resources' record production and focus on cost reductions. The company increased its Adjusted EBITDA guidance and decreased its capital budget, resulting in an increase in Free Cash Flow guidance.
Delivered company record volumes during the third quarter, resulting in a 13% and 43% year-over-year increase in gathering and processing volumes, respectively.
Focused on capital and operating cost reductions across gathering and processing and water handling segments.
Published first-ever Corporate Sustainability Report (“CSR”).
Antero Midstream increased its Adjusted EBITDA guidance to a range of $835 to $845 million from the previous range of $800 to $830 million.
Antero Midstream
Antero Midstream
Antero Midstream Revenue by Segment
Forward Guidance
Antero Midstream increased its Adjusted EBITDA guidance to a range of $835 to $845 million from the previous range of $800 to $830 million. The increase in Adjusted EBITDA is driven by higher volumetric throughput than previously budgeted, as well as operating and general and administrative cost reductions achieved throughout 2020. In addition, Antero Midstream is modestly decreasing its capital budget to a range of $200 to $210 million from the previous range of $200 to $215 million. The increase in Adjusted EBITDA guidance and decrease in capital budget results in an increase in Free Cash Flow guidance (before return of capital and changes in working capital) to $485 to $495 million.