Antero Midstream Q4 2022 Earnings Report
Key Takeaways
Antero Midstream reported strong Q4 2022 results with increased low pressure gathering and compression volumes, driven by operational efficiency and strategic acquisitions. Adjusted EBITDA increased by 9% compared to the prior year quarter, and the company generated Free Cash Flow after dividends for the second consecutive quarter. The company is focused on reducing debt and leverage in 2023.
Low pressure gathering volumes increased by 4% compared to the prior year quarter, averaging 3,070 MMcf/d.
Compression volumes increased by 4% compared to the prior year quarter, averaging 2,945 MMcf/d.
Fresh water delivery volumes increased by 39% compared to the fourth quarter of 2021, averaging 111 MBbl/d.
Adjusted EBITDA was $231 million, a 9% increase compared to the prior year quarter.
Antero Midstream
Antero Midstream
Antero Midstream Revenue by Segment
Forward Guidance
Antero Midstream is forecasting Net Income of $340 to $380 million and Adjusted Net Income (adjusted for amortization of customer relationships and effective tax rate impact) of $395 to $435 million. The Company is forecasting Adjusted EBITDA of $930 to $970 million and a capital budget of $195 to $215 million.
Positive Outlook
- Forecasting Net Income of $340 to $380 million.
- Forecasting Adjusted Net Income of $395 to $435 million.
- Forecasting Adjusted EBITDA of $930 to $970 million.
- Capital budget of $195 to $215 million.
- Mid-to-high single digit low pressure gathering growth in 2023 compared to 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income