Antero Midstream Reports Record Q2 Earnings with Strong Free Cash Flow and Expansion Plans
Antero Midstream (NYSE:AM) reported record second-quarter adjusted EBITDA of $289 million, driven by a nearly 20% year-over-year increase in gathering volumes to over 4.1 billion cubic feet per day. The company also generated $80 million in free cash flow after dividends for the twelfth consecutive quarter and received more than $370 million from Veolia in damages and interest, reducing its pro forma leverage ratio to 2.8 times. The firm is advancing expansion plans with construction underway on a $200–$300 million East Side Express pipeline project expected to add up to 2.0 Bcf per day of capacity. Antero Midstream also outlined potential infrastructure projects in West Virginia tied to power generation and data center demand, which could be worth several billion dollars. Management plans to refinance its nearest-term debt maturity due in 2028 using lower-cost credit-facility borrowings at par value, aiming to strengthen liquidity while maintaining a strong balance sheet.
Tickers: $AM
Topics: debt_refinancing ebitda_growth energy free_cash_flow midstream_infrastructure