Antero Midstream

AM

Market cap $8.46B

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Antero Midstream (AM) reported earnings 30 days ago. What's next for the stock?

AM posts higher revenues on stronger gathering volumes, but rising operating costs weigh on quarterly earnings.

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Antero Midstream reported a 94% year-over-year surge in free cash flow after dividends. AM stands to benefit from rising LNG export capacity and data center-driven natural gas demand. Parent Antero Resources is increasing drilling activity with a "spot rig" on the dry gas acreage.

Antero Midstream met expectations with its Q3 2025 results. These results were similar to its Q2 2025 results, with gather volumes down 1% to 2% quarter-over-quarter but up 4% to 5% versus last year. The expectations are for similar Q4 2025 results as well.

Antero Midstream Corporation maintains strong fundamentals and one of the best earnings profiles in the midstream sector. AM's dividend yield of 5.1% is notably lower than peers like EPD, ET, WES, and PAA, impacting its attractiveness for income investors. Despite the lower yield, AM demonstrates embedded growth engines that merit consideration for those seeking both income and growth.

Antero Midstream Corporation ( AM ) Q3 2025 Earnings Call October 30, 2025 12:00 PM EDT Company Participants Dan Katzenberg Michael Kennedy - President CEO & Director Justin Agnew - CFO, VP of Finance & VP of Investor Relations Brendan Krueger - Senior VP of Finance & Treasurer Conference Call Participants Jeremy Tonet - JPMorgan Chase & Co, Research Division Ivan Scotto - UBS Investment Bank, Research Division John Mackay - Goldman Sachs Group, Inc., Research Division Presentation Operator Greetings, and welcome to the Antero Midstream Third Quarter 2025 Earnings Call. [Operator Instructions] And as a reminder, this conference is being recorded.

Although the revenue and EPS for Antero Midstream (AM) give a sense of how its business performed in the quarter ended September 2025, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.