Antero Midstream Corporation reported its financial results for the first quarter of 2026, revealing total revenues of $314.2 million, an increase of 8% from $291.1 million in the same period of 2025. The growth in revenue was primarily driven by a 9% increase in gathering and processing revenues, which rose to $250 million, and a 3% increase in water handling revenues, which reached $64 million. The company’s net income for the quarter was $118.3 million, slightly down from $120.7 million in the prior year, resulting in a consistent net income per share of $0.25.
The financial performance reflects significant operational changes, including the completion of the HG Acquisition, which added gathering pipelines and integrated water handling assets in the Marcellus Shale region. This acquisition, finalized on February 3, 2026, was valued at $1.1 billion and is expected to enhance Antero Midstream's service capabilities. The company also divested its Utica Shale assets for $400 million, which closed on February 23, 2026, allowing for a strategic focus on core operations in the Appalachian Basin.
Operationally, Antero Midstream reported an increase in throughput volumes, with gathering volumes rising by 14% to 342.4 million cubic feet per day (MMcf/d) compared to the previous year. The company connected 72 new wells to its system, contributing to this growth. However, fresh water delivery volumes decreased by 20%, attributed to the timing of well completions by Antero Resources. The company’s direct operating expenses increased by 24% to $71 million, reflecting higher costs associated with the increased gathering volumes and water handling services.
Looking ahead, Antero Midstream anticipates continued growth driven by its strategic acquisitions and operational efficiencies. The company has declared a cash dividend of $0.225 per share for the quarter ended March 31, 2026, payable on May 13, 2026. The management remains optimistic about the future, citing the potential for further expansion in midstream services and the resilience of its revenue model, which is largely insulated from commodity price fluctuations due to fixed-fee contracts with Antero Resources.
About Antero Midstream Corp
Antero Midstream Corporation owns and operates midstream energy infrastructure servicing natural gas and natural gas liquids production in the Appalachian Basin. Its core assets include gathering and compression pipelines, water handling and blending facilities, and interests in processing and fractionation plants. The company primarily serves Antero Resources under long-term, fixed-fee contracts, providing integrated midstream services that support well completion and production activities with a scalable, capital-efficient business model.
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