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Antero Midstream (AM)
NYSE:AM
Holding AM?
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Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.23Last Year’s EPS
$0.21Same Quarter Last Year
Moderate Sell
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: 0.07%
|Next Earnings Date:Feb 12, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial management, including efficient capital allocation, debt reduction, and leverage improvement, alongside significant free cash flow generation and premium international pricing advantages. However, challenges such as deferral of completion activities and impacts from depressed natural gas prices were noted. Overall, the positive aspects of financial performance and strategic positioning outweigh the challenges.Company Guidance
In the Antero Midstream Q3 2024 earnings call, the guidance highlighted several key metrics and financial expectations. The capital expenditures for 2024 were revised to remain within the $150 million to $170 million budget, with $56 million already invested in Q3, constituting 35% of the annual budget. AM anticipates a decline in capital spending in Q4, leading to increased free cash flow and a reduction in leverage from 3.1x to below 3x by year-end. The company reported a Q3 EBITDA of $256 million, marking a 2% year-over-year increase, and free cash flow after dividends of $40 million, up 32% from last year. Looking ahead to 2025, AM projects further EBITDA and free cash flow growth, supporting potential shareholder returns and maintaining a capital expenditure range of $150 million to $200 million.Capital Budget Efficiency
Accelerated capital expenditures in Q3, resulting in $56 million invested, or 35% of the full-year budget, due to favorable weather conditions. Anticipated significant decline in capital in Q4, expecting to stay within the annual capital budget guidance range.
Increased International Premiums
AR receives high $0.20 per gallon premiums on propane exports due to strong international demand and export constraints, providing a competitive advantage with unconstrained access to international markets.
EBITDA Growth
Achieved EBITDA of $256 million, marking a 2% increase year-over-year, with expectations for further growth in EBITDA and free cash flow into 2025.
Debt Reduction and Leverage Improvement
Free cash flow after dividends was $40 million, a 32% increase from last year, used to reduce absolute debt, resulting in leverage of 3.1x as of September 30, with expectations to decline below 3x in Q4.
Consistent Free Cash Flow Generation
Generated over $350 million in free cash flow after dividends over the last two years, exceeding the $287 million spent on bolt-on acquisitions, highlighting successful asset integration and financial strategy.
Ahead of Schedule on Leverage Target
Expected to achieve leverage below 3x by Q4 2024, one year ahead of the initial year-end 2025 target, enhancing the ability to return incremental capital to shareholders.
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AM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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AM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $15.00 | $14.37 | -4.20% |
| Jul 31, 2024 | $14.15 | $13.83 | -2.26% |
| Apr 24, 2024 | $13.60 | $13.81 | +1.54% |
| Feb 14, 2024 | $11.17 | $11.84 | +6.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Antero Midstream (AM) report earnings?
Antero Midstream (AM) is schdueled to report earning on Feb 12, 2025, TBA Not Confirmed.
What is Antero Midstream (AM) earnings time?
Antero Midstream (AM) earnings time is at Feb 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AM EPS forecast?
AM EPS forecast for the fiscal quarter 2024 (Q4) is $0.23.
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