Filing Flows › Antero Midstream (AM) › Q1 2025
Antero Midstream (AM) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 30, 2025
Antero Midstream (AM) reported revenue of $291M for the first quarter 2025 (Q1 2025), +4% from a year earlier and +1% from the quarter before. Operating margin was 60.9%, net earnings $121M (41.5% of revenue).
Antero Midstream, Q1 2025: revenue $291M (+4% year over year), operating margin 60.9%, net earnings $121M, operating cash flow $199M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $291M | +1% | +4% |
| Operating profit | $177M | -0.3% | +7% |
| Net earnings | $121M | +9% | +16% |
| Operating cash flow | $199M | -15% | -6% |
| Free cash flow | $168M | -28% | -4% |
What changed
Revenue was $291.1M in Q1 2025, up 4% year over year and up 1% from the previous quarter.
Operating profit was $177.2M, a 60.9% margin (up 1.3 points year over year). Of the extra revenue versus a year earlier, 91% reached operating profit, above the 60% margin then. Total costs grew 1% against revenue growth of 4%. Net earnings were $120.6M, up 16% year over year. The effective tax rate was 23.0%.
Operating cash flow was $198.9M (down 6% year over year), 165% of net earnings. Non-cash charges added back $50.4M of depreciation and amortization and $12.4M of share-based compensation. Working capital and other items added $15.4M. Capital expenditures of $30.5M left free cash flow of $168.4M.
Questions
What was Antero Midstream's revenue in the first quarter 2025?
Antero Midstream (AM) reported revenue of $291M for the first quarter 2025 (Q1 2025), +4% from a year earlier and +1% from the quarter before.
Was Antero Midstream profitable in the first quarter 2025?
Operating profit was $177M (60.9% of revenue) and net earnings $121M.
Source: Antero Midstream 10-Q on SEC EDGAR.