Antero Midstream Announces Third Quarter 2026 Financial and Operating Results
Antero Midstream reported Q3 2026 net income of $393 million ($0.82 diluted EPS, +242% per share), driven by a $377 million gain on Clearwater litigation; adjusted EPS was $0.28, up 4% YoY. Underlying operations grew with gathering and compression volumes up 19% and 17% YoY, adjusted EBITDA up 3% to $291 million, and capex flat at $51 million. Leverage declined to 2.8x and the company cut absolute debt by over $400 million while repurchasing 1.3 million shares for $27 million. Management raised 2026 Adjusted FCF guidance by $370 million (before and after dividends) to reflect the litigation proceeds, with all other ranges unchanged.
Key figures
- Eps
- 0.82
- Revenue
- 327022000
- Guidance
- 2026 Adjusted FCF before dividends $1,125-$1,185M and after dividends $700-$760M, both raised $370M vs prior guidance on Clearwater litigation proceeds; all other ranges unchanged
- Capex
- 51000000
- Leverage
- 2.8x
- Buyback q3
- $27 million (1.3 million shares)
- Adjusted eps
- 0.28
- Adjusted ebitda
- 291000000
- Gain on litigation
- 377000000
- Adjusted ebitda yoy
- 3%
- Adjusted net income
- 134000000
- Gathering volume yoy
- 19%
- Compression volume yoy
- 17%
- Net income yoy per share
- 242%
- Buyback remaining capacity
- $283 million
- Adjusted fcf after dividends
- 449000000
- Adjusted fcf before dividends
- 555000000
AI analysis
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