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Antero Midstream's Q1 Earnings and Revenues Beat Estimates
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Antero Midstream Corporation (AM - Free Report) reported first-quarter 2025 adjusted earnings per share of 28 cents, which beat the Zacks Consensus Estimate of 23 cents. The bottom line increased from 24 cents in the prior-year quarter. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
Total quarterly revenues of $291 million beat the Zacks Consensus Estimate of $281 million. The top line increased from $279 million recorded in the year-ago quarter.
The strong quarterly results can be attributed to record processing volumes and higher average fees realized across major segments.
Antero Midstream Corporation Price, Consensus and EPS Surprise
Average daily compression volumes were 3,330 million cubic feet (MMcf/d) compared with 3,260 MMcf/d in the year-ago quarter. The reported figure was above our estimate of 3,298 MMcf/d. On a per-Mcf basis, the compression fee was 22 cents, which increased almost 5% from 21 cents a year ago.
High-pressure gathering volumes totaled 3,106 MMcf/d, up from the year-ago level of 2,966 MMcf/d. The figure was also above our estimate of 3,049 MMcf/d. On a per-Mcf basis, the average gathering high-pressure fee was 23 cents, higher than the year-ago quarter’s 22 cents.
Low-pressure gathering volumes averaged 3,348 MMcf/d compared with 3,301 MMcf/d a year ago. The figure was below our estimate of 3,466 MMcf/d. On a per-Mcf basis, the average gathering low-pressure fee was 36 cents, which remained flat year over year. The reported figure was lower than our estimate of 37 cents.
Freshwater delivery volumes were registered at 105 MBbls/d, down approximately 7% from the prior-year figure of 113 MBbls/d. On a per-barrel basis, the average freshwater distribution fee was $4.38 compared with $4.30 a year ago. The figure was also above our estimate of $4.31.
Operating Expenses
Direct operating expenses amounted to $56.8 million, up from $53.9 million recorded a year ago.
Antero Midstream’s total operating expenses totaled $113.9 million, up from $112.8 million recorded in the corresponding period of 2024.
Balance Sheet
As of March 31, 2024, the company had no cash and cash equivalents. As of the same date, the company had $3,116.9 million in long-term debt.
Zacks Rank and Key Picks
Currently, AM carries a Zacks Rank #3 (Hold).
Investors interested in the energy sector may look at some better-ranked stocks like Archrock Inc. (AROC - Free Report) , Kinder Morgan, Inc. (KMI - Free Report) and Enterprise Products Partners L.P. (EPD - Free Report) . While Archrock presently sports a Zacks Rank #1 (Strong Buy), Kinder Morgan and Enterprise Products carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Archrock is an energy infrastructure company based in the United States with a focus on midstream natural gas compression. AROC provides natural gas contract compression services and generates stable fee-based revenues.
Archrock’s earnings beat estimates in three of the trailing four quarters and met once, delivering an average surprise of 8.81%.
Kinder Morgan is a leading midstream player in North America with a stable and resilient business model, largely driven by take-or-pay contracts, which ensure consistent earnings and facilitate reliable capital returns to shareholders. KMI operates one of the largest natural gas pipeline networks, positioning it to benefit from the projected increase in U.S. natural gas demand by 2030.
Kinder Morgan’s earnings missed estimates in three of the trailing four quarters and met once, delivering an average negative surprise of 3.33%.
Enterprise generates stable fee-based revenues from its vast network of oil and gas pipelines spanning 50,000 miles, connecting prolific U.S. shale plays. Notably, the acquisition of Pinon Midstream, which aims to provide services in the prolific Permian Basin, is expected to drive the partnership’s cash flows. This move enhances its NGL value chain and addresses regional infrastructure constraints, with strong customer demand expected to boost revenues.
EPD’s earnings beat estimates in one of the trailing four quarters and missed in the other three, delivering an average negative surprise of 0.77%.
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Antero Midstream's Q1 Earnings and Revenues Beat Estimates
Antero Midstream Corporation (AM - Free Report) reported first-quarter 2025 adjusted earnings per share of 28 cents, which beat the Zacks Consensus Estimate of 23 cents. The bottom line increased from 24 cents in the prior-year quarter. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
Total quarterly revenues of $291 million beat the Zacks Consensus Estimate of $281 million. The top line increased from $279 million recorded in the year-ago quarter.
The strong quarterly results can be attributed to record processing volumes and higher average fees realized across major segments.
Antero Midstream Corporation Price, Consensus and EPS Surprise
Antero Midstream Corporation price-consensus-eps-surprise-chart | Antero Midstream Corporation Quote
Operational Performance
Average daily compression volumes were 3,330 million cubic feet (MMcf/d) compared with 3,260 MMcf/d in the year-ago quarter. The reported figure was above our estimate of 3,298 MMcf/d. On a per-Mcf basis, the compression fee was 22 cents, which increased almost 5% from 21 cents a year ago.
High-pressure gathering volumes totaled 3,106 MMcf/d, up from the year-ago level of 2,966 MMcf/d. The figure was also above our estimate of 3,049 MMcf/d. On a per-Mcf basis, the average gathering high-pressure fee was 23 cents, higher than the year-ago quarter’s 22 cents.
Low-pressure gathering volumes averaged 3,348 MMcf/d compared with 3,301 MMcf/d a year ago. The figure was below our estimate of 3,466 MMcf/d. On a per-Mcf basis, the average gathering low-pressure fee was 36 cents, which remained flat year over year. The reported figure was lower than our estimate of 37 cents.
Freshwater delivery volumes were registered at 105 MBbls/d, down approximately 7% from the prior-year figure of 113 MBbls/d. On a per-barrel basis, the average freshwater distribution fee was $4.38 compared with $4.30 a year ago. The figure was also above our estimate of $4.31.
Operating Expenses
Direct operating expenses amounted to $56.8 million, up from $53.9 million recorded a year ago.
Antero Midstream’s total operating expenses totaled $113.9 million, up from $112.8 million recorded in the corresponding period of 2024.
Balance Sheet
As of March 31, 2024, the company had no cash and cash equivalents. As of the same date, the company had $3,116.9 million in long-term debt.
Zacks Rank and Key Picks
Currently, AM carries a Zacks Rank #3 (Hold).
Investors interested in the energy sector may look at some better-ranked stocks like Archrock Inc. (AROC - Free Report) , Kinder Morgan, Inc. (KMI - Free Report) and Enterprise Products Partners L.P. (EPD - Free Report) . While Archrock presently sports a Zacks Rank #1 (Strong Buy), Kinder Morgan and Enterprise Products carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Archrock is an energy infrastructure company based in the United States with a focus on midstream natural gas compression. AROC provides natural gas contract compression services and generates stable fee-based revenues.
Archrock’s earnings beat estimates in three of the trailing four quarters and met once, delivering an average surprise of 8.81%.
Kinder Morgan is a leading midstream player in North America with a stable and resilient business model, largely driven by take-or-pay contracts, which ensure consistent earnings and facilitate reliable capital returns to shareholders. KMI operates one of the largest natural gas pipeline networks, positioning it to benefit from the projected increase in U.S. natural gas demand by 2030.
Kinder Morgan’s earnings missed estimates in three of the trailing four quarters and met once, delivering an average negative surprise of 3.33%.
Enterprise generates stable fee-based revenues from its vast network of oil and gas pipelines spanning 50,000 miles, connecting prolific U.S. shale plays. Notably, the acquisition of Pinon Midstream, which aims to provide services in the prolific Permian Basin, is expected to drive the partnership’s cash flows. This move enhances its NGL value chain and addresses regional infrastructure constraints, with strong customer demand expected to boost revenues.
EPD’s earnings beat estimates in one of the trailing four quarters and missed in the other three, delivering an average negative surprise of 0.77%.