Antero Midstream (AM)
NYSE:AM
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Earnings Data
Report Date
Jul 29, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.27Last Year’s EPS
0.26Same Quarter Last Year
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed solid operational and financial progress: adjusted EBITDA grew 5% year-over-year to $288 million, free cash flow increased (FCF after dividends +8% YoY), the largest-ever $1.1 billion acquisition closed ahead of expectations with integration on track, and liquidity remained strong (> $800M). Management highlighted commissioning of compression capacity, water system integration (completion by year-end 2026) and a development program expected to yield high-single-digit EBITDA growth and high-teens to ~20% returns on base investments. Near-term headwinds include increased capex, $25M of remaining integration costs with benefits phased into 2027, and elevated near-term leverage from the acquisition and buybacks. Incremental upside from data center/local power projects is promising but still early and unquantified. Overall, positive operational execution and financial resilience outweigh the manageable integration, capex, and timing risks.Company Guidance
Adjusted EBITDA Growth
Adjusted EBITDA of $288 million in Q1 2026, a 5% year-over-year increase driven by higher gathering, compression, and processing volumes.
Free Cash Flow and Capital Allocation
Generated $192 million of free cash flow before dividends and $85 million after dividends in Q1 2026 (free cash flow after dividends increased 8% year-over-year). Cash was used to partially finance a $1.1 billion acquisition and for opportunistic share repurchases.
Strong Liquidity and Manageable Leverage
Exited the quarter with over $800 million of liquidity and leverage in the low three-times range. Management expects declining leverage toward a ~3.0x target by year-end 2026.
Largest Acquisition Closed Ahead of Expectations
Closed the company's largest acquisition to date in February (~$1.1 billion) and successfully assumed operations of the acquired assets during winter, with integration work already underway.
Operational Resilience During Adverse Weather
Took over operations of newly acquired assets in the middle of winter without experiencing outages during the storm, highlighting effective integrated planning between upstream and midstream teams.
Commissioning and Growth Projects
Commissioned a dry gas compression expansion and commenced water system integration that is on track for completion by year-end 2026; currently running three rigs on rich gas, one on dry gas, and one on the acquired blended system. The development program is expected to drive high-single-digit EBITDA growth going forward.
High Returns on Base Business
Management states the base business delivers high rates of return (high teens to ~20% return on invested capital) and remains a source of capital-efficient, predictable growth. 2026 guidance remains unchanged.
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
AM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 29, 2026 | $21.88 | $21.86 | -0.09% |
Feb 11, 2026 | $20.23 | $20.69 | +2.30% |
Oct 29, 2025 | $17.14 | $17.10 | -0.23% |
Jul 30, 2025 | $16.55 | $17.72 | +7.06% |
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.
FAQ
When does Antero Midstream (AM) report earnings?
Antero Midstream (AM) is schdueled to report earning on Jul 29, 2026, After Close (Confirmed).
What is Antero Midstream (AM) earnings time?
Antero Midstream (AM) earnings time is at Jul 29, 2026, After Close (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 2026 (Q2) is 0.27.