Filing Flows › Antero Resources (AR) › Q2 2025
Antero Resources (AR) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Antero Resources (AR) reported revenue of $1.3B for the second quarter 2025 (Q2 2025), +33% from a year earlier and -4% from the quarter before. Operating margin was 15.8%, net earnings $157M (12.1% of revenue).
Antero Resources, Q2 2025: revenue $1.3B (+33% year over year), operating margin 15.8%, net earnings $157M, operating cash flow $492M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | -4% | +33% |
| Operating profit | $205M | -25% | — |
| Net earnings | $157M | -25% | — |
| Operating cash flow | $492M | +8% | +243% |
| Free cash flow | $262M | — | — |
What changed
Revenue was $1.3B in Q2 2025, up 33% year over year and down 4% from the previous quarter. Natural gas sales was the largest line at 53% of revenue. Natural gas sales added $0.31B year over year (up 84%), 99% of the total change. Oil sales declined 47%.
Operating profit was $0.20B, a 15.8% margin (up 24.0 points year over year). Total costs grew 3% against revenue growth of 33%. Net earnings were $0.16B. The effective tax rate was 22.4%.
Operating cash flow was $0.49B (up 243% year over year), 296% 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 $0.12B. After capital expenditures ($0.21B) and distributions to non-controlling interests in Martica ($0.02B), free cash flow as the company reports it was $0.26B.
Questions
What was Antero Resources' revenue in the second quarter 2025?
Antero Resources (AR) reported revenue of $1.3B for the second quarter 2025 (Q2 2025), +33% from a year earlier and -4% from the quarter before.
Was Antero Resources profitable in the second quarter 2025?
Operating profit was $205M (15.8% of revenue) and net earnings $157M.
Source: Antero Resources 10-Q on SEC EDGAR.