Antero Midstream reports Q2 adjusted EPS 23c, consensus 22c

Reports Q2 revenue $270M, consensus $269.8M. CEO Paul Rady said, “During the quarter, Antero Midstream closed on a highly strategic bolt-on acquisition, increasing throughput volumes from our primary investment grade customer, Antero Resources. This acquisition complements our organic just-in-time business model that generates consistent Free Cash Flow after dividends, which increased 41% year-over-year.” Brendan Krueger, CFO, said “During 2024, Antero Midstream improved its balance sheet through the successful refinancing of its highest coupon senior notes and the extension of its credit facility to 2029. Importantly, over the last year, we have reduced our net debt by $120M and our leverage has declined from 3.5x to 3.1x. This balance sheet improvement is evidenced by our upgrade from S&P and highlights our consistent Free Cash Flow generation and the accretive nature of the recent bolt-on acquisition.”