Filing Flows › Antero Midstream (AM) › Q2 2026
Antero Midstream (AM) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 29, 2026
Antero Midstream (AM) reported revenue of $327M for the second quarter 2026 (Q2 2026), +7% from a year earlier and +4% from the quarter before. Operating margin was 55.6%, net earnings $114M (34.7% of revenue).
Antero Midstream, Q2 2026: revenue $327M (+7% year over year), operating margin 55.6%, net earnings $114M, operating cash flow $254M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $327M | +4% | +7% |
| Operating profit | $182M | -4% | -2% |
| Net earnings | $114M | -4% | -9% |
| Operating cash flow | $254M | +7% | -4% |
| Free cash flow | $202M | — | -12% |
What changed
Revenue was $327.2M in Q2 2026, up 7% year over year and up 4% from the previous quarter.
Operating profit was $181.9M, a 55.6% margin (down 5.4 points year over year). Operating profit fell $4.5M even though revenue rose $21.8M versus Q2 2025, so costs grew faster than sales. Total costs grew 22% against revenue growth of 7%. The fastest-growing cost line was Other operating costs (+27%). Net earnings were $113.4M, down 9% year over year. The effective tax rate was 26.5%.
Operating cash flow was $254.2M (down 4% year over year), 224% of net earnings. Non-cash charges added back $60.2M of depreciation and amortization and $10.8M of share-based compensation. Working capital and other items added $69.7M. Capital expenditures of $52.7M left free cash flow of $201.5M.
Questions
What was Antero Midstream's revenue in the second quarter 2026?
Antero Midstream (AM) reported revenue of $327M for the second quarter 2026 (Q2 2026), +7% from a year earlier and +4% from the quarter before.
Was Antero Midstream profitable in the second quarter 2026?
Operating profit was $182M (55.6% of revenue) and net earnings $114M.
Source: Antero Midstream 10-Q on SEC EDGAR.