Antero Midstream Corporation reported its financial and operating results for the quarter ended September 30, 2026. The company announced a net income of $393 million, or $0.82 per diluted share, representing a 242% increase on a per-share basis compared to the prior year quarter.
Key financial metrics for the third quarter of 2026 included:
- Adjusted Net Income: $134 million, or $0.28 per diluted share, a 4% increase from the prior year.
- Adjusted EBITDA: $291 million, a 3% increase compared to the prior year.
- Capital Expenditures: $51 million, consistent with the prior year quarter.
- Leverage: Declined to 2.8x as of September 30, 2026.
Adjusted Free Cash Flow before dividends was $555 million, while Adjusted Free Cash Flow after dividends was $449 million. These figures included a $377 million gain on litigation. During the quarter, the company reduced its absolute debt by over $400 million and repurchased 1.3 million shares for approximately $27 million.
Operational highlights for the quarter included a 19% increase in gathering volumes and a 17% increase in compression volumes compared to the prior year. Fresh water delivery volumes averaged 89,000 barrels per day. The company also connected 22 wells to its gathering system and serviced 22 wells with its fresh water delivery system.
Looking ahead, Antero Midstream expects to place 80 million cubic feet per day of additional compression capacity in service in the fourth quarter of 2026. The company also noted approximately 15 to 20 billion cubic feet of expected curtailments in the fourth quarter.
Antero Midstream updated its 2026 guidance based on the litigation proceeds. The company increased its 2026 Adjusted Free Cash Flow before and after dividends guidance by $370 million. The updated guidance range for 2026 Net Income is $765 million to $815 million.
