A month has gone by since the last earnings report for Antero Resources (AR) . Shares have added about 11.3% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Antero Resources due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Antero Q4 Earnings and Revenues Beat Estim ...

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Core Viewpoint - The current natural gas market is experiencing significant volatility, impacting the share prices of producers like Antero Resources, despite the company's operational efficiencies and long-term growth potential [2][8][36]. Supply Factors - High inventory levels in natural gas storage, particularly in Europe, have reduced the urgency for buyers, leading to downward pressure on prices [9]. - Increased production in the U.S. has contributed to a supply glut, further exacerbating the situation [9]. - Lower demand for Liquefied Natural Gas (LNG) imports due to high global inventory levels and milder weather has softened competition for supplies [9]. Demand Factors - A warmer-than-usual winter has reduced heating demand for natural gas in both Europe and North America [9]. - Economic slowdowns in major consuming regions like China and Europe have lowered industrial demand for natural gas [9]. Operational Efficiency - Antero Resources has made significant improvements in drilling and completion efficiencies, with a 14% reduction in days per 10,000 feet drilled since 2019 and a 35% increase in completion stages per day compared to the previous year [11][12]. - The company has over 20 years of low-cost reserves, allowing it to produce gas even when prices are low, which positions it well for future price rebounds [12][37]. Financial Outlook - Antero anticipates a reduction in maintenance capital expenditure to a midpoint of $675 million in 2024, down from $909 million in 2023, due to operational efficiencies [16]. - The company expects to maintain flat production levels averaging between 3.3 and 3.4 billion cubic feet equivalent per day while generating positive free cash flow in 2024 [18][36]. Market Positioning - Antero Resources sells 100% of its natural gas out of the basin, with 75% entering the LNG Fairway, which provides pricing benefits [20]. - The company benefits from a diverse production mix, with roughly half of its production being natural gas liquids, which have higher margins than natural gas [20]. Pricing Dynamics - Despite current natural gas pricing pressures, Antero has seen improvements in the NGL market due to strong domestic demand and high export levels [20]. - Propane prices have risen above $0.90 a gallon, driven by reduced inventories and strong exports [20]. Long-term Growth Potential - Antero expects significant demand growth for LNG, which will tie U.S. natural gas prices more closely to higher international prices [27][29]. - The company is positioned to benefit from a structural shift towards reliable, clean, and affordable natural gas, leading to increased demand for natural gas power generation [30].

Antero Resources Corporation (NYSE:AR) Q4 2023 Results Conference Call February 15, 2024 11:00 AM ET Company Participants Brendan Krueger - Chief Financial Officer of Antero Midstream and Vice President of Finance Paul Rady - Chairman, Chief Executive Officer and President Michael Kennedy - Chief Financial Officer Dave Cannelongo - Senior Vice President of Liquids Marketing and Transportation Justin Fowler - Senior Vice President of Natural Gas Marketing Conference Call Participants Arun Jayaram - JPMorgan ...

Antero Resources Corporation (AR) reported fourth-quarter 2023 adjusted earnings of 22 cents per share, which beat the Zacks Consensus Estimate of 18 cents.  However, the bottom line significantly declined from the year-ago quarter’s $1.04.Total quarterly revenues of $1.19 billion surpassed the Zacks Consensus Estimate of $1.17 billion. The top line decreased from the year-ago quarter’s $2.1 billion.Better-than-expected quarterly earnings can be primarily attributed to higher production volumes, driven by s ...

For the quarter ended December 2023, Antero Resources (AR) reported revenue of $1.19 billion, down 42.7% over the same period last year. EPS came in at $0.22, compared to $1.04 in the year-ago quarter.The reported revenue represents a surprise of +2.37% over the Zacks Consensus Estimate of $1.17 billion. With the consensus EPS estimate being $0.22, the company has not delivered EPS surprise.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compa ...

Core Viewpoint Antero Resources Corporation reported strong financial and operational results for the fourth quarter and full year of 2023, highlighting increased production, improved capital efficiency, and a positive outlook for 2024 driven by anticipated demand growth in the LNG sector. Financial Highlights - Fourth quarter net production averaged 3.4 Bcfe/d, a 6% increase year-over-year [2] - Realized a pre-hedge natural gas equivalent price of $3.52 per Mcfe, a $0.64 per Mcfe premium to NYMEX pricing [2] - Net income for the fourth quarter was $95 million, with adjusted net income of $71 million [2] - Adjusted EBITDAX was $322 million, and net cash provided by operating activities was $312 million [2] - Free cash flow before changes in working capital was $90 million [9] Production and Reserves - Full year 2023 net production averaged 3.4 Bcfe/d, a 6% increase from the prior year [3] - Liquids production averaged 193 MBbl/d, a 14% increase from the prior year [3] - Estimated proved reserves increased to 18.1 Tcfe at year-end 2023, with proved developed reserves at 13.8 Tcfe, a 2% increase from the prior year [3][19] - Estimated future development cost for 4.3 Tcfe of proved undeveloped reserves is $0.42 per Mcfe [3] 2024 Guidance - Net production is expected to average between 3.3 and 3.4 Bcfe/d, with natural gas production projected to decline by 3% [4] - Liquids production is expected to increase by 2% from the prior year [4] - The drilling and completion capital budget is set at $650 to $700 million, a decrease of 26% from 2023 [4] - Land capital budget is projected at $75 to $100 million, down 41% from 2023 [4] Operational Efficiency - The company achieved a record average lateral length drilled of over 17,000 feet per well in the fourth quarter [2] - Completion stages per day averaged 11 stages, a 39% increase from the prior year [3] - The corporate decline rate has significantly decreased, leading to a reduction in maintenance capital for 2024 [4] Market Position and Outlook - The company is well-positioned to benefit from the anticipated surge in LNG demand, with a firm transportation portfolio that delivers 100% of its natural gas out of basin [3] - By the end of 2025, total exports, including LNG and Mexico pipeline flows, are expected to increase by nearly 8 Bcf/d, outpacing supply growth [3] - The CFO noted that significant leverage to NGL prices, which have increased over 15% from the fourth quarter of 2023, enhances the 2024 outlook [3]

Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 AR New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 001-36120 ANTERO RESOURCES COR ...

Antero Resources (AR) is set to report fourth-quarter 2023 earnings on Feb 14, after the closing bell.The independent natural gas and natural gas liquids company’s earnings missed the Zacks Consensus Estimate in two of the trailing four quarters and beat the same twice. This is depicted in the graph below.Estimate TrendThe Zacks Consensus Estimate for fourth-quarter earnings per unit of 22 cents has witnessed one downward movement over the past seven days. The estimated figure suggests a significant decline ...

Chun han At this point of winter, nearly everyone knows we have an El Nino winter and they are supposed to be warm. As I mentioned before, those things are not as dependable as many commenters believe. Sure enough, Kinder Morgan (KMI) management just mentioned in the latest conference call how they made up a significant portion of their guidance (which normally includes a cold spell) after a record warm December that had them worried. One of the very few companies that has unusual flexibility to send na ...