Antero Midstream Corp (AM) Form 8-K — Oct 28, 2026
Antero Midstream reported Q3 2026 net income of $393 million ($0.82 per diluted share), up 242% per share year over year, driven by a $377 million gain on Clearwater litigation. Adjusted EBITDA rose 3% to $291 million and Adjusted Net Income was $134 million ($0.28/share, +4%). The company raised 2026 guidance, increasing Adjusted Free Cash Flow before and after dividends by $370 million at midpoint based on the litigation proceeds. Gathering volumes grew 19% and compression 17% year over year, with leverage declining to 2.8x and debt reduced by over $400 million during the quarter.
Key figures
- Eps
- 0.82 diluted
- Revenue
- 327022000
- Guidance
- 2026 net income $765-815M (+$280M at midpoint vs prior); Adjusted FCF before dividends $1,125-1,185M (+$370M); after dividends $700-760M (+$370M)
- Net Income
- 392657000
- Total Debt
- 3176800000
- Revenue Yoy
- 10.9% vs Q3 2025 ($294.8M)
- Cash Position
- 0
- Capex
- $51M
- Leverage
- 2.8x
- Adjusted ebitda
- $291M, +3% YoY
- Litigation gain
- $377M (Clearwater proceeds)
- Shares repurchased
- 1.3M shares for ~$27M
- Adjusted net income
- $134M ($0.28/diluted share, +4% YoY)
- Fresh water delivery
- 89 MBbl/d, -3% YoY
- Gathering volume growth
- 19% YoY
- Compression volume growth
- 17% YoY
- Buyback capacity remaining
- ~$283M
- Q4 curtailment expectation
- 15-20 Bcf (vs ~10 Bcf in Q3)
- Adjusted fcf after dividends
- $449M
- Adjusted fcf before dividends
- $555M
AI analysis
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