Filing Flows › Antero Resources (AR) › Q3 2026 › vs Q2 2026
Antero Resources (AR) Q3 2026 vs Q2 2026 (quarter over quarter)
Antero Resources's revenue rose $3.0M (+0.2%) from $1.6B in Q2 2026 to $1.6B in Q3 2026. The biggest changes: Commodity derivative fair value gains +$27.9M (+17%); Marketing −$16.0M (-28%); Oil sales −$14.9M (-25%). Operating margin 25.1% against 24.1% (+1.0 pts).
Antero Resources, Q3 2026: revenue $1.6B (+29% year over year), operating margin 25.1%, net earnings $367M, operating cash flow $575M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 25.1% | 24.1% | +1.0 pts |
| Net margin | 23.5% | 18.4% | +5.1 pts |
| Free cash flow margin | 16.7% | 8.4% | +8.3 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Natural gas sales | $703M | $688M | $14.2M | +2% |
| Natural gas liquids sales | $580M | $588M | −$7.9M | -1% |
| Commodity derivative fair value gains | $189M | $161M | $27.9M | +17% |
| Oil sales | $44.7M | $59.6M | −$14.9M | -25% |
| Marketing | $40.1M | $56.1M | −$16.0M | -28% |
| Amortization of deferred revenue, VPP | $5.9M | $5.9M | $64K | +1% |
| Other revenue and income | $983K | $1.5M | −$529K | -35% |
| Revenue | $1.6B | $1.6B | $3.0M | +0.2% |
| Other income, net | $71.7M | −$10.0M | $81.8M | — |
| Operating profit | $392M | $375M | $16.3M | +4% |
| Costs & expenses | $1.2B | $1.2B | −$13.3M | -1% |
| Pre-tax earnings | $464M | $365M | $98.1M | +27% |
| General & admin | $57.8M | $57.8M | $0 | 0% |
| Other operating costs | $1.1B | $1.1B | −$13.3M | -1% |
| Net earnings | $367M | $286M | $80.7M | +28% |
| Income tax | $96.4M | $79.0M | $17.4M | +22% |
| Depreciation & amortization | $241M | $227M | $13.9M | +6% |
| Share-based compensation | $13.2M | $13.3M | −$114K | -0.9% |
| Working capital & other | $46.3M | $88.1M | −$41.8M | -47% |
| Operating cash flow | $575M | $439M | $136M | +31% |
| Free cash flow (OCF − capex) | $261M | $131M | $130M | +99% |
| Capital expenditures | $314M | $308M | $6.3M | +2% |
Questions
How much did Antero Resources's revenue grow quarter over quarter in Q3 2026?
Antero Resources's revenue rose $3.0M (+0.2%) from $1.6B in Q2 2026 to $1.6B in Q3 2026.
What drove Antero Resources's revenue change in Q3 2026?
Commodity derivative fair value gains +$27.9M (+17%); Marketing −$16.0M (-28%); Oil sales −$14.9M (-25%).