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Antero Midstream Corporation (NYSE: AM) is a premier midstream energy infrastructure company headquartered in Denver, Colorado. Established in 2013, the firm owns, operates, and develops critical midstream assets that support natural gas and liquids production in the Appalachian Basin, specifically the Marcellus Shale and Utica Shale located in West Virginia and Ohio.
Antero Midstream operates through two primary segments: Gathering and Processing and Water Handling and Treatment. The Gathering and Processing segment includes an extensive network of pipelines and compressor stations that collect and process production from Antero Resources' wells. The Water Handling and Treatment segment supplies fresh water from the Ohio River and regional reservoirs, along with wastewater treatment and disposal services.
As of the latest updates, Antero Midstream has been involved in several significant financial activities, such as the pricing of a $600 million offering of senior notes due 2032. The company intends to use the proceeds from this offering to reduce its revolving credit facility debt, which can be reborrowed for general corporate purposes. Furthermore, Antero Midstream has consistently shown financial strength, reflected by their adjusted EBITDA of $265 million for the first quarter of 2024, a 10% increase over the previous year.
The company has also made strategic acquisitions and investments, most notably the recent $70 million purchase of gathering and compression assets in the Marcellus Shale from Summit Midstream Partners LP. This acquisition is expected to be over 5% accretive to Free Cash Flow after dividends through 2027. Additionally, Antero Midstream declared a cash dividend of $0.225 per share for the first quarter of 2024, underscoring its commitment to shareholder returns.
Antero Midstream Corporation is an integral player in the midstream energy sector, ensuring the efficient and safe transportation, processing, and treatment of natural gas and related products. The company's robust infrastructure and strategic initiatives make it a vital partner for Antero Resources and a significant entity in the U.S. energy landscape.
Antero Midstream Corporation (NYSE: AM) declared a cash dividend of $0.225 per share for Q1 2022, amounting to $0.90 annualized. This marks the 30th consecutive quarterly dividend since its IPO in November 2014. The dividend will be paid on May 11, 2022, to stockholders of record by April 27, 2022. Additionally, the company plans to release its Q1 earnings on April 27, 2022, after trading closes, with a conference call set for April 28, 2022, to discuss the results.
Antero Midstream Corporation (NYSE: AM) reported its Q4 2021 results, showing a net income of $79 million, or $0.16 per share. Adjusted EBITDA increased 5% to $213 million. For the full year, net income reached $332 million, compared to a net loss in 2020, with an adjusted EBITDA of $876 million. The 2022 guidance estimates net income of $330-$370 million and adjusted EBITDA of $850-$890 million. Capital expenditures are projected at $275-$300 million. The company aims for low single-digit throughput growth and plans significant investments in Marcellus and Utica Shale infrastructure.
Antero Midstream Corporation (NYSE: AM) declared a cash dividend of $0.225 per share for Q4 2021, marking the 30th consecutive quarterly dividend since its IPO in November 2014. This dividend will be paid on February 9, 2022 to stockholders of record as of January 26, 2022. The company has $150 million remaining for share repurchases under its $300 million program. Antero Midstream will release its fourth quarter and full year 2021 earnings on February 16, 2022, followed by a conference call on February 17, 2022.
Antero Resources (NYSE: AR) will release its fourth quarter 2021 earnings on February 16, 2022, after the NYSE trading close. A conference call to discuss the results is set for February 17, 2022, at 9:00 am MT. Analysts can dial 877-407-9079 (U.S.) or 201-493-6746 (International) to join. The call will include a Q&A session, and a replay will be available until February 24, 2022. Antero, based in the Appalachian Basin, is a key player in natural gas production alongside its affiliate, Antero Midstream (NYSE: AM).
Antero Midstream Corporation (NYSE: AM) reported its Q3 2021 financial results, showing a net income of $89 million ($0.19 per share), down from $105 million in Q3 2020. Adjusted EBITDA decreased by 4% to $219 million, while capital expenditures rose 120% to $81 million. Free Cash Flow before dividends dropped 40% to $94 million, and after dividends, there was a deficit of $13 million. The company connected its 1,000th well and extended its credit facility maturity to 2026, reducing commitments to $1.25 billion. Recent environmental initiatives were highlighted, including a 62% reduction in total recordable incidents.
Antero Midstream Corporation (NYSE: AM) declared a cash dividend of $0.225 per share for Q3 2021, marking its 29th consecutive dividend since its IPO in 2014. The dividend, amounting to an annualized $0.90 per share, will be paid on November 10, 2021 to shareholders on record by October 27, 2021. The company has $150 million remaining under its $300 million share repurchase program. Antero Midstream will release its earnings on October 27, 2021 and host a conference call on October 28, 2021.
Antero Midstream Corporation (NYSE: AM) reported second quarter 2021 results, showing a net income of $80 million ($0.17 per share), down from $88 million in the prior year. Adjusted Net Income rose 10% to $109 million ($0.23 per share). Adjusted EBITDA increased 12% to $225 million. Free Cash Flow increased to $3 million from a $40 million deficit. Capital expenditures were $71 million, with an average daily low-pressure gathering volume of 2,897 MMcf/d, a 1% increase year-over-year. The company refinanced $650 million of senior notes, extending maturities and reducing operational risks.
Antero Midstream Corporation (NYSE: AM) declared a cash dividend of $0.225 per share for Q2 2021, marking its 27th consecutive quarterly dividend. The dividend is payable on August 11, 2021, to stockholders of record by July 28, 2021, amounting to an annualized total of $0.90 per share. Antero Midstream will release its Q2 earnings on July 28, 2021, followed by a conference call on July 29, 2021, at 10:00 am MT. As of June 30, 2021, the company had approximately $150 million remaining in its $300 million share repurchase program.
Antero Midstream (NYSE: AM) has announced the pricing of a private placement of $750 million in senior unsecured notes due in 2029, expected to close on June 8, 2021. The company anticipates receiving net proceeds of approximately $742 million, which will be used to redeem its $650 million of senior notes due 2024 and repay credit facility borrowings. The offering is not contingent upon the redemption of the 2024 notes and will be offered only to qualified institutional buyers.
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