#United States #Denver #Appalachian Basin #Antero Midstream #HG Energy

Antero Midstream's Q1 2026 Financial Highlights

On April 29, 2026, Antero Midstream Corporation (NYSE: AM) released its first-quarter financial and operating results, showcasing substantial growth and strategic advancements. The results underscore Antero Midstream's commitment to delivering robust performance while navigating the complexities of the energy sector.

Key Highlights from Q1 2026

1. Increased Gathering Volumes: There was a remarkable 14% rise in gathering volumes compared to the same period last year.
2. Net Income Stability: The company reported a net income of $118 million, which translates to $0.25 per diluted share, consistent with figures from the prior year.
3. Adjusted Financial Metrics: Adjusted net income stood at $138 million, or $0.29 per diluted share, reflecting a 4% per share growth from the previous year. Additionally, adjusted EBITDA rose by 5% to $288 million.
4. Capital Expenditures: During the quarter, capital investments totaled $42 million, supporting ongoing and future projects.
5. Strong Cash Flow: Adjusted free cash flow after dividends reached $85 million, marking an 8% increase compared to Q1 2025.
6. Share Repurchase Program: In a strategic move, Antero Midstream repurchased 1.0 million shares for $18 million, showcasing confidence in its stock and commitment to returning capital to shareholders.

Leadership Insights

Michael Kennedy, CEO and President of Antero Midstream, expressed satisfaction over the quarter’s performance, stating, "Our ability to conclude the HG acquisition and integrate operations seamlessly during Winter Storm Fern highlights our team's dedication and operational resilience."

Strategic Growth Initiatives: The integration of the HG Energy assets is expected to enhance connectivity and support new market outlets, complementing existing systems and bolstering growth.

CFO Justin Agnew noted, "Our robust balance sheet, coupled with strong free cash flow generation and strategic divestiture of assets in Ohio, has positioned us well. We anticipate continued high-single-digit EBITDA growth aligned with our organic growth strategy."

Operational and Strategic Updates

The company successfully connected 20 new wells to its gathering system and serviced 26 others with its fresh water delivery infrastructure during Q1 2026. Furthermore, there has been ongoing construction to connect water systems, promoting efficiency and supporting future expansion.

The results from the latest quarter are indicative of a solid operational framework designed to support Antero Midstream's long-term objectives within the Appalachian Basin, focusing on meeting rising energy demands. Additionally, the management highlighted their commitment to maintaining a lean operational framework for the upcoming quarters.

Financial Overview

The following comparative financial metrics were revealed:

• - Total Revenues: $314 million, up from $291 million the previous year.
• - Operating Expenses: Increased to $125.6 million.
• - Interest Expense: Rose by 12% to $54 million, attributable to financing activities linked to the HG Energy acquisition.

Looking Ahead

Antero Midstream anticipates that its planned projects will not only sustain its current trajectory but also position the company favorably for future growth. Management will hold a conference call on April 30, 2026, to elaborate on these results and discuss strategic initiatives aimed at leveraging market opportunities.

In summary, Antero Midstream remains focused on advancing its infrastructure capabilities, thereby enhancing both operational performance and shareholder value in an evolving energy landscape.