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Antero Midstream Q3 misses estimates

By Reuters News


Overview

  • U.S. midstream operator's Q3 revenue fell and missed analyst expectations

  • Q3 adjusted EBITDA missed analyst expectations

  • Company repurchased 1.3 mln shares for $27 mln in Q3


Outlook

  • Antero Midstream raises 2026 adjusted free cash flow guidance by $370 mln after litigation proceeds

  • Company expects to complete water system integration by year-end 2026

  • Company anticipates 15 to 20 Bcf of curtailments in Q4 2026


Result Drivers

  • VOLUME GROWTH - Gathering and compression volumes rose 19% and 17% year-over-year, respectively, supporting operational growth

  • LITIGATION GAIN - Net income was boosted by a $377 mln gain on litigation in the quarter

  • WATER DELIVERY DECLINE - Fresh water delivery volumes fell 3% from a year earlier, weighing on water segment revenue


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$327 mln

$340.62 mln (3 Analysts)

Q3 Adjusted Net Income

Miss

$134 mln

$138.27 mln (1 Analyst)

Q3 Net Income

$393 mln

Q3 Adjusted EBITDA

Miss

$291 mln

$312.69 mln (6 Analysts)

Q3 Capex

$51 mln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the oil & gas transportation services peer group is "buy."

  • Wall Street's median 12-month price target for Antero Midstream Corporation is $24.00, about 13.7% above its October 27 closing price of $21.10

  • The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 18 three months ago


Reuters Recommended Reads

  • Oct 27 - ONEOK Q3 results beat estimates on higher product volumes; raises 2026 outlook

  • Oct 27 - Expand Energy Q3 profit beats analyst expectations

  • Oct 27 - Natural gas producer Range Resources' Q3 adjusted EPS, net income beat estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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