Filing Flows › Antero Resources (AR) › Q1 2025
Antero Resources (AR) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 30, 2025
Antero Resources (AR) reported revenue of $1.4B for the first quarter 2025 (Q1 2025), +21% from a year earlier and +16% from the quarter before. Operating margin was 20.1%, net earnings $208M (15.4% of revenue).
Antero Resources, Q1 2025: revenue $1.4B (+20% year over year), operating margin 20.1%, net earnings $208M, operating cash flow $458M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.4B | +16% | +21% |
| Operating profit | $271M | 85× | +469% |
| Net earnings | $208M | +94% | +815% |
| Operating cash flow | $458M | +65% | +75% |
| Free cash flow | $236M | — | 15× |
What changed
Revenue was $1.4B in Q1 2025, up 21% year over year and up 16% from the previous quarter. Natural gas sales was the largest line at 58% of revenue. Natural gas sales added $0.31B year over year (up 65%), 133% of the total change. Amortization of deferred revenue, VPP declined 8%.
Operating profit was $0.27B, a 20.1% margin (up 15.8 points year over year). Of the extra revenue versus a year earlier, 97% reached operating profit, above the 4% margin then. Total costs grew 1% against revenue growth of 21%. The fastest-growing cost line was General & admin (+12%). Net earnings were $0.21B, up 815% year over year. The effective tax rate was 19.9%.
Operating cash flow was $0.46B (up 75% year over year), 209% of net income including minority interests. Non-cash charges added back $0.19B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.04B. After capital expenditures ($0.21B) and distributions to non-controlling interests in Martica ($0.02B), free cash flow as the company reports it was $0.24B.
Questions
What was Antero Resources' revenue in the first quarter 2025?
Antero Resources (AR) reported revenue of $1.4B for the first quarter 2025 (Q1 2025), +21% from a year earlier and +16% from the quarter before.
Was Antero Resources profitable in the first quarter 2025?
Operating profit was $271M (20.1% of revenue) and net earnings $208M.
Source: Antero Resources 10-Q on SEC EDGAR.