Antero Midstream Announces Second Quarter 2025 Financial and Operating Results and Increased Guidance

About this update from Antero Midstream Corporation

[{"type":"text","content":" DENVER , July 30, 2025 /PRNewswire/ -- Antero Midstream Corporation (NYSE: AM) ("Antero Midstream" or the "Company") today announced its second quarter 2025 financial and operating results. The relevant unaudited condensed consolidated financial statements are included in Antero Midstream's Quarterly Report on Form 10-Q for the three months ended June 30, 2025 .","length":396,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/Antero Midstream) (PRNewsfoto/Antero Midstream)","displaySize":"","headline":null,"caption":"(PRNewsfoto/Antero Midstream) (PRNewsfoto/Antero Midstream)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":172,"url":"https://media.zenfs.com/en/prnewswire.com/008f53e8bfc3029c0e6b0c158daf060b"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/XBfRWRoNHmXPS3eYShIvfw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTMwMztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/008f53e8bfc3029c0e6b0c158daf060b","width":400,"height":172}},"href":"https://mma.prnewswire.com/media/847871/Antero_Midstream_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":" Second Quarter 2025 Highlights: ","length":31,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":" Low pressure gathering and processing volumes increased by 6% compared to the prior year quarter ","length":96,"tagName":"p"}]},{"val":[{"type":"text","content":" Net Income was $125 million , or $0.26 per diluted share, a 44% per share increase compared to the prior year quarter ","length":116,"tagName":"p"}]},{"val":[{"type":"text","content":" Adjusted Net Income was $138 million , or $0.29 per diluted share, a 26% per share increase compared to the prior year quarter (non-GAAP measure) ","length":144,"tagName":"p"}]},{"val":[{"type":"text","content":" Adjusted EBITDA was $284 million , an 11% increase compared to the prior year quarter (non-GAAP measure) ","length":103,"tagName":"p"}]},{"val":[{"type":"text","content":" Capital expenditures were $45 million , a 13% decrease compared to the prior year quarter ","length":88,"tagName":"p"}]},{"val":[{"type":"text","content":" Free Cash Flow after dividends was $82 million , an 89% increase compared to the prior year quarter (non-GAAP measure) ","length":117,"tagName":"p"}]},{"val":[{"type":"text","content":" Leverage was 2.8x as of June 30, 2025 (non-GAAP measure) ","length":56,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":720,"olType":false},{"type":"text","content":" 2025 Guidance Updates: ","length":22,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":" Increasing net income, Adjusted Net Income and Adjusted EBITDA guidance by $10 million (non-GAAP measure) ","length":105,"tagName":"p"}]},{"val":[{"type":"text","content":" Decreasing interest expense, current income tax expense, and capital expenditures each by $5 million ","length":100,"tagName":"p"}]},{"val":[{"type":"text","content":" Increasing Free Cash Flow before and after dividends by $25 million (non-GAAP measure) ","length":86,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":291,"olType":false},{"type":"text","content":" Paul Rady , Chairman and CEO said, "During the quarter Antero Midstream gathered 3.5 Bcf/d of production, which was a 6% increase year-over-year and a new company record. This growth coincides with the significant demand growth seen along the U.S. Gulf Coast LNG facilities over the last year. Looking ahead, we continue to see significant demand growth from Gulf Coast LNG facilities as well as natural gas fired power demand from data center growth in Appalachia. As the critical first link to delivering gas to LNG and power demand, Antero Midstream is well positioned for future growth opportunities."","length":614,"tagName":"p"},{"type":"text","content":" Brendan Krueger , CFO of Antero Midstream, said "The record gathering and processing volumes in the second quarter led to an 11% year-over-year increase in EBITDA, while capital expenditures declined by 13%. This capital efficiency drove an 89% increase in Free Cash Flow compared to the second quarter of 2024."","length":321,"tagName":"p"},{"type":"text","content":"Mr. Krueger continued, "Antero Midstream's consistent Free Cash Flow generation has enabled the Company to reduce debt by approximately $170 million over the past year, including nearly $100 million year-to-date. This debt reduction, combined with double-digit year-over-year EBITDA growth resulted in leverage declining to 2.8x as of June 30, 2025 . In addition to the debt reduction, Antero Midstream has purchased approximately $83 million of shares year-to-date through July 30 , 2025."","length":502,"tagName":"p"},{"type":"readMore"},{"type":"text","content":" For a discussion of the non-GAAP financial measures, including Adjusted EBITDA, Adjusted Net Income, Free Cash Flow before and after dividends and Leverage   please see "Non-GAAP Financial Measures and Definitions." ","length":228,"tagName":"p"},{"type":"text","content":" Share Repurchase Program ","length":24,"tagName":"p"},{"type":"text","content":"During the second quarter of 2025, Antero Midstream repurchased 1.0 million shares for $17 million . Antero Midstream had approximately $426 million of remaining capacity under its $500 million authorized share repurchase program as of June 30, 2025 . During the quarter, Antero Midstream also purchased $9 million of shares related to satisfying tax withholding obligations incurred upon the vesting of equity awards. Year-to-date through June 30, 2025 , total shares purchased under the share repurchase program and for tax withholding obligations have totaled 4.4 million shares at a weighted average price of $16.62 per share. In addition, July month-to-date the Company has repurchased 0.6 million shares for $11 million .","length":728,"tagName":"p"},{"type":"text","content":" 2025 Guidance Update ","length":20,"tagName":"p"},{"type":"text","content":"Antero Midstream is increasing its Net Income, Adjusted Net Income, and Adjusted EBITDA guidance. The company is decreasing its interest expense, capital expenditures, and current income tax guidance. These changes result in a $25 million increase in Free Cash Flow before and after dividends.","length":293,"tagName":"p"},{"type":"text","content":"The following is a summary of Antero Midstream's updated 2025 guidance ($ in millions, except per share amounts):","length":117,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.33em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":" ","length":0,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.33em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":" ","length":0,"tagName":"p","attribs":{}}]},{"colspan":"3","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"type":"text","content":" Twelve Months Ended December 31, 2025 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