Filing Flows › Antero Resources (AR) › Q3 2025
Antero Resources (AR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 29, 2025
Antero Resources (AR) reported revenue of $1.2B for the third quarter 2025 (Q3 2025), +15% from a year earlier and -6% from the quarter before. Operating margin was 9.7%, net earnings $76.2M (6.3% of revenue).
Antero Resources, Q3 2025: revenue $1.2B (+15% year over year), operating margin 9.7%, net earnings $76.2M, operating cash flow $310M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | -6% | +15% |
| Operating profit | $118M | -42% | — |
| Net earnings | $76.2M | -51% | — |
| Operating cash flow | $310M | -37% | +87% |
| Free cash flow | $90.9M | — | — |
What changed
Revenue was $1.2B in Q3 2025, up 15% year over year and down 6% from the previous quarter. Natural gas sales was the largest line at 52% of revenue. Natural gas sales added $0.21B year over year (up 48%), 130% of the total change. Oil sales declined 41%.
Operating profit was $0.12B, a 9.7% margin (up 12.1 points year over year). Total costs grew 1% against revenue growth of 15%. Net earnings were $0.08B. The effective tax rate was 33.6%.
Operating cash flow was $0.31B (up 87% year over year), 362% 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 $0.02B. After capital expenditures ($0.20B) and distributions to non-controlling interests in Martica ($0.02B), free cash flow as the company reports it was $0.09B.
Questions
What was Antero Resources' revenue in the third quarter 2025?
Antero Resources (AR) reported revenue of $1.2B for the third quarter 2025 (Q3 2025), +15% from a year earlier and -6% from the quarter before.
Was Antero Resources profitable in the third quarter 2025?
Operating profit was $118M (9.7% of revenue) and net earnings $76.2M.
Source: Antero Resources 10-Q on SEC EDGAR.