Antero Midstream Corp ( (AM) ) has released its Q3 earnings. Here is a breakdown of the information Antero Midstream Corp presented to its investors.
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Antero Midstream Corporation is a Delaware-based company that owns and operates midstream assets in the Appalachian Basin, providing gathering, compression, processing, and water handling services, primarily supporting Antero Resources Corporation.
Antero Midstream reported strong results for the third quarter of 2024, with a net income of $100 million, marking a 5% per share increase from the previous year. The company also announced the appointment of Jeffrey Muñoz to its Board of Directors, adding significant industry experience to its leadership team.
Key financial highlights include an adjusted EBITDA of $256 million, reflecting a 2% increase from the prior year, and free cash flow after dividends of $40 million, a notable 32% rise from the previous year. The company maintained its leverage at 3.1x and managed to reduce its interest expenses by 6%. Despite a decrease in low-pressure gathering volumes, high-pressure gathering volumes increased by 4%.
Looking ahead, Antero Midstream expects a reduction in capital expenditures in the fourth quarter, potentially increasing free cash flow and aiding in achieving its leverage target of 3.0x. The company remains focused on reducing debt and optimizing its operations under favorable market conditions.
Overall, Antero Midstream’s solid financial performance and strategic board appointment position the company well for continued growth and operational efficiency in the midstream energy sector.
