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Earnings Call Summary | Antero Midstream(AM.US) Q1 2024 Earnings Conference

moomoo AI ·  Apr 25 19:53  · Conference Call

The following is a summary of the Antero Midstream Corporation (AM) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Antero Midstream reported record financials in Q1 2024 and achieved double-digit EBITDA growth, even as capital expenditure declined year over year.

  • A 4% and 6% increase were observed in gathering and processing volumes respectively, compared to the previous year.

  • The company generated significant free cash flow, standing at $182 million before dividends and $74 million after dividends.

  • Leverage was reduced to 3.1x from 3.3x at the end of 2023.

Business Progress:

  • Antero successfully placed the Grays Peak compressor station in service, contributing to future throughput growth and saving approximately $15 million in capital in the process.

  • On the freshwater side, Antero improved operations, delivering 113,000 barrels per day to AR in Q1 2024, a 35% increase from previous operations.

  • Antero is planning for further expansion of the Grays Peak station with a phased approach to maximize returns.

  • The company is on track to achieve its 3x leverage target by the latter half of 2024, allowing for an increased return for shareholders, surpassing initial expectations.

More details: Antero Midstream IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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