Antero Midstream (US:AM) ZACKSยท2025-02-13 13:56Financial Performance - Antero Midstream Corporation reported fourth-quarter 2024 adjusted earnings per share of 26 cents, exceeding the Zacks Consensus Estimate of 23 cents, and an increase from 24 cents in the prior-year quarter [1] - Total quarterly revenues reached $287 million, surpassing the Zacks Consensus Estimate of $270 million, and up from $260 million recorded in the year-ago quarter [1] Operational Performance - Average daily compression volumes were 3,266 million cubic feet (MMcf/d), down from 3,343 MMcf/d in the year-ago quarter and below the estimate of 3,358 MMcf/d, with a compression fee of 21 cents per Mcf, remaining flat year over year [3] - High-pressure gathering volumes totaled 3,045 MMcf/d, slightly down from 3,047 MMcf/d a year ago and below the estimate of 3,057 MMcf/d, with an average fee of 23 cents per Mcf, higher than the prior year's 21 cents [4] - Low-pressure gathering volumes averaged 3,276 MMcf/d, down from 3,377 MMcf/d a year ago and below the estimate of 3,346 MMcf/d, with an average fee of 36 cents per Mcf, up from 35 cents in the prior year [5] - Freshwater delivery volumes were 114 MBbls/d, up approximately 21% from 94 MBbls/d a year ago, with an average distribution fee of $4.31 per barrel, compared to $4.22 a year ago [6] Operating Expenses - Direct operating expenses amounted to $55.9 million, an increase from $50.8 million recorded a year ago, with total operating expenses reaching $109.7 million, up from $104.5 million in the corresponding period of 2023 [7] Balance Sheet - As of December 31, 2024, the company had no cash and cash equivalents and reported long-term debt of $3,116.9 million [8] Outlook - Antero Midstream projects net income in the range of $445-$485 million and adjusted net income between $500-$540 million, with a capital budget for 2025 expected to be in the $170-$200 million range [9]