AR FY 2014 Earnings Report — Antero Resources Corporation Revenue & Financial Results | Market Cap Arena

Antero Resources CorporationAR

FY 2014 Earnings

Reported February 25, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$1.8B	—	$821M	—	114.1%
Op. Income	$1.3B	—	$341M	—	280.9%
Gross Margin	39.9%	—	37.6%	—	2.3pp
Net Margin	38.3%	—	-2.3%	—	40.6pp
EPS (Diluted)	$2.57	—	$-0.07	—	3771.4%
Free Cash Flow	-$611M	—	-$521M	—	-17.4%

Revenue Flow

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$1.1B
GROSS PROFIT	$702M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$320M
Other Expenses	-$917M
Operating Expenses	-$597M
Cost & Expenses	$459M
OPERATING INCOME	$1.3B
Interest Income	$0
Interest Expense	$160M
Other Income/Expenses	-$180M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$446M
Net Income from Continuing Ops	$674M
Net Income from Discontinued Ops	$2M
Other Adjustments	$0
NET INCOME	$674M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$674M
D&A	$479M
EBIT	$1.3B
EBITDA	$1.8B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$1.8B
Cost of Revenue	$1.1B
GROSS PROFIT	$702M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$320M
Other Expenses	-$917M
Operating Expenses	-$597M
Cost & Expenses	$459M
OPERATING INCOME	$1.3B
Interest Income	$0
Interest Expense	$160M
Other Income/Expenses	-$180M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$446M
Net Income from Continuing Ops	$674M
Net Income from Discontinued Ops	$2M
Other Adjustments	$0
NET INCOME	$674M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$674M
D&A	$479M
EBIT	$1.3B
EBITDA	$1.8B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$676M
Depreciation & Amortization	$479M
Stock-Based Compensation	$112M
Deferred Income Tax	$446M
Other Non-Cash Items	-$733M
Change in Working Capital	$18M
OPERATING CASH FLOW	$998M
Capital Expenditure	-$1.6B
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$2.5B
NET CASH FROM INVESTING	-$4.1B
Net Debt Issuance	$2.3B
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$34M
NET CASH FROM FINANCING	$3.3B
FREE CASH FLOW	-$611M
Net Change in Cash	$228M

Balance Sheet

Item	Amount
Cash & Equivalents	$246M
Short-Term Investments	$0
Net Receivables	$308M
Inventory	$0
Other Current Assets	$698M
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$9.4B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$969M
TOTAL NON-CURRENT ASSETS	$10.3B
TOTAL ASSETS	$11.6B
Account Payables	$532M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$12M
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$4.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$795M
Other Non-Current Liabilities	$48M
TOTAL NON-CURRENT LIABILITIES	$5.2B
TOTAL LIABILITIES	$6.1B
Common Stock	$3M
Additional Paid-In Capital	$3.5B
Retained Earnings	$867M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.4B
Minority Interest	$1.1B
TOTAL EQUITY	$5.5B
TOTAL LIABILITIES & EQUITY	$11.6B
Total Debt	$4.4B
Net Debt	$4.1B