Filing Flows › Antero Resources (AR) › Q2 2026 › vs Q1 2026
Antero Resources (AR) Q2 2026 vs Q1 2026 (quarter over quarter)
Antero Resources's revenue fell $385M (-20%) from $1.9B in Q1 2026 to $1.6B in Q2 2026. The biggest changes: Natural gas sales −$623M (-48%); Commodity derivative fair value gains +$126M (+359%); Natural gas liquids sales +$84.1M (+17%). Operating margin 24.1% against 37.5% (-13.4 pts).
Antero Resources, Q2 2026: revenue $1.6B (+20% year over year), operating margin 24.1%, net earnings $279M, operating cash flow $439M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 24.1% | 37.5% | -13.4 pts |
| Net margin | 17.9% | 27.5% | -9.7 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Natural gas sales | $688M | $1.3B | −$623M | -48% |
| Natural gas liquids sales | $588M | $504M | $84.1M | +17% |
| Commodity derivative fair value gains | $161M | $35.0M | $126M | +359% |
| Oil sales | $59.6M | $46.7M | $12.9M | +28% |
| Marketing | $56.1M | $41.7M | $14.4M | +35% |
| Amortization of deferred revenue, VPP | $5.9M | $5.8M | $65K | +1% |
| Other revenue and income | $1.5M | $827K | $685K | +83% |
| Revenue | $1.6B | $1.9B | −$385M | -20% |
| Operating profit | $375M | $729M | −$354M | -49% |
| Costs & expenses | $1.2B | $1.2B | −$31.3M | -3% |
| Pre-tax earnings | $365M | $694M | −$328M | -47% |
| Other expense, net | $10.0M | $35.7M | −$25.7M | -72% |
| General & admin | $57.8M | $63.3M | −$5.5M | -9% |
| Other operating costs | $1.1B | $1.2B | −$25.7M | -2% |
| Net earnings | $279M | $535M | −$257M | -48% |
| Minority interests | $7.8M | $13.0M | −$5.2M | -40% |
| Income tax | $79.0M | $146M | −$66.5M | -46% |
| Depreciation & amortization | $227M | $206M | $21.0M | +10% |
| Share-based compensation | $13.3M | $11.7M | $1.5M | +13% |
| Working capital & other | $80.3M | −$106M | $186M | — |
| Operating cash flow | $439M | $859M | −$420M | -49% |
Questions
How much did Antero Resources's revenue grow quarter over quarter in Q2 2026?
Antero Resources's revenue fell $385M (-20%) from $1.9B in Q1 2026 to $1.6B in Q2 2026.
What drove Antero Resources's revenue change in Q2 2026?
Natural gas sales −$623M (-48%); Commodity derivative fair value gains +$126M (+359%); Natural gas liquids sales +$84.1M (+17%).