Filing Flows › Antero Midstream (AM) › Q2 2026 › vs Q2 2025
Antero Midstream (AM) Q2 2026 vs Q2 2025 (year over year)
Antero Midstream's revenue rose $21.8M (+7%) from $305M in Q2 2025 to $327M in Q2 2026. Operating margin 55.6% against 61.0% (-5.4 pts).
Antero Midstream, Q2 2026: revenue $327M (+7% year over year), operating margin 55.6%, net earnings $114M, operating cash flow $254M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 55.6% | 61.0% | -5.4 pts |
| Net margin | 34.7% | 40.8% | -6.1 pts |
| Free cash flow margin | 61.6% | 74.8% | -13.2 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $327M | $305M | $21.8M | +7% |
| Operating profit | $182M | $186M | −$4.5M | -2% |
| Costs & expenses | $145M | $119M | $26.3M | +22% |
| Pre-tax earnings | $154M | $168M | −$14.0M | -8% |
| Other expense, net | $27.4M | $17.9M | $9.5M | +53% |
| General & admin | $22.6M | $22.1M | $432K | +2% |
| Other operating costs | $123M | $96.9M | $25.9M | +27% |
| Net earnings | $114M | $125M | −$11.0M | -9% |
| Income tax | $41.0M | $44.0M | −$3.0M | -7% |
| Depreciation & amortization | $60.2M | $51.0M | $9.1M | +18% |
| Share-based compensation | $10.8M | $11.4M | −$579K | -5% |
| Working capital & other | $69.7M | $78.2M | −$8.5M | -11% |
| Operating cash flow | $254M | $265M | −$10.9M | -4% |
| Free cash flow (OCF − capex) | $202M | $228M | −$26.9M | -12% |
| Capital expenditures | $52.7M | $36.7M | $16.0M | +44% |
Questions
How much did Antero Midstream's revenue grow year over year in Q2 2026?
Antero Midstream's revenue rose $21.8M (+7%) from $305M in Q2 2025 to $327M in Q2 2026. Operating margin 55.6% against 61.0% (-5.4 pts).