AM FY 2023 Earnings Report — Antero Midstream Corporation Revenue & Financial Results | Market Cap Arena

Antero Midstream CorporationAM

FY 2023 Earnings

Reported February 14, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.1B	—	$991M	—	12.3%
Op. Income	$612M	—	$539M	—	13.4%
Gross Margin	62.3%	—	61.4%	—	0.9pp
Net Margin	33.4%	—	32.9%	—	0.5pp
EPS (Diluted)	$0.77	—	$0.68	—	13.2%
Free Cash Flow	$595M	—	$184M	—	223.5%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$420M
GROSS PROFIT	$693M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$71M
SG&A Expenses	$71M
Other Expenses	$10M
Operating Expenses	$81M
Cost & Expenses	$501M
OPERATING INCOME	$612M
Interest Income	$0
Interest Expense	$217M
Other Income/Expenses	-$112M
INCOME BEFORE TAX	$500M
Income Tax Expense	$128M
Net Income from Continuing Ops	$372M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$372M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$371M
D&A	$207M
EBIT	$717M
EBITDA	$924M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$420M
GROSS PROFIT	$693M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$71M
SG&A Expenses	$71M
Other Expenses	$10M
Operating Expenses	$81M
Cost & Expenses	$501M
OPERATING INCOME	$612M
Interest Income	$0
Interest Expense	$217M
Other Income/Expenses	-$112M
INCOME BEFORE TAX	$500M
Income Tax Expense	$128M
Net Income from Continuing Ops	$372M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$372M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$371M
D&A	$207M
EBIT	$717M
EBITDA	$924M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$372M
Depreciation & Amortization	$207M
Stock-Based Compensation	$32M
Deferred Income Tax	$135M
Other Non-Cash Items	$38M
Change in Working Capital	-$4M
OPERATING CASH FLOW	$779M
Capital Expenditure	-$184M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$793.0K
NET CASH FROM INVESTING	-$183M
Net Debt Issuance	-$152M
Common Stock Repurchased	-$8M
Common Dividends Paid	-$435M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$596M
FREE CASH FLOW	$595M
Net Change in Cash	$66.0K

Balance Sheet

Item	Amount
Cash & Equivalents	$66.0K
Short-Term Investments	$0
Net Receivables	$90M
Inventory	$0
Other Current Assets	$2M
TOTAL CURRENT ASSETS	$91M
PP&E (Net)	$3.8B
Goodwill	$0
Intangible Assets	$1.2B
Long-Term Investments	$627M
Tax Assets	$0
Other Non-Current Assets	$11M
TOTAL NON-CURRENT ASSETS	$5.6B
TOTAL ASSETS	$5.7B
Account Payables	$10M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$27M
TOTAL CURRENT LIABILITIES	$96M
Long-Term Debt	$3.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$276M
TOTAL NON-CURRENT LIABILITIES	$3.5B
TOTAL LIABILITIES	$3.6B
Common Stock	$5M
Additional Paid-In Capital	$2.0B
Retained Earnings	$100M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.2B
Minority Interest	$0
TOTAL EQUITY	$2.2B
TOTAL LIABILITIES & EQUITY	$5.7B
Total Debt	$3.2B
Net Debt	$3.2B