Antero Midstream Corporation reported a notable increase in its financial performance for the third quarter of 2025, with total revenues rising to $294.8 million, a 9% increase from $269.9 million in the same period of 2024. The growth was primarily driven by higher revenues from gathering and compression services, which increased from $234.8 million to $249.8 million, and water handling services, which rose from $52.3 million to $62.1 million. The company's net income for the quarter also saw a significant increase, reaching $116.0 million compared to $99.7 million in the prior year, resulting in a net income per share of $0.24, up from $0.21.
In comparison to the previous fiscal period, Antero Midstream's financials showed a marked improvement. For the nine months ending September 30, 2025, total revenues increased by 9% to $891.4 million, up from $818.7 million in the same period of 2024. The company’s net income for the nine months also rose to $361.2 million from $289.7 million, reflecting a strong operational performance and effective cost management strategies. The increase in revenues was attributed to higher throughput volumes and annual Consumer Price Index (CPI)-based adjustments in service fees.
Strategically, Antero Midstream has made significant investments in its infrastructure, including the acquisition of gathering and compression assets valued at $70 million in 2024. The company also reported a successful share repurchase program, having repurchased approximately 5 million shares for a total cost of $87 million during the nine months ended September 30, 2025. This reflects the company's commitment to returning value to shareholders while maintaining a strong balance sheet.
Operationally, Antero Midstream reported an increase in throughput volumes across its services. For the three months ended September 30, 2025, low-pressure gathering volumes increased by 5% to 315.7 million cubic feet per day (MMcf/d), while compression volumes also rose by 5% to 314.7 MMcf/d. The company serviced 17 wells with fresh water delivery, an increase from 9 wells in the previous year, indicating a growing customer base and enhanced service engagement. The total number of shares outstanding as of September 30, 2025, was 476.3 million.
Looking ahead, Antero Midstream remains optimistic about its growth trajectory, supported by its strategic positioning in the Appalachian Basin and ongoing relationships with Antero Resources. The company anticipates continued demand for its services, driven by Antero Resources' production and development plans. However, it acknowledges potential risks related to commodity price volatility and economic conditions that could impact its operations. The company plans to maintain its focus on capital efficiency and operational excellence to navigate these challenges effectively.
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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