Antero Midstream Corporation (AM) Reports Q3 Earnings: What Key Metrics Have to Say
Antero Midstream Corporation (AM) reported $263.84 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 14.2%. EPS of $0.23 for the same period compares to $0.20 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $256.23 million, representing a surprise of +2.97%. The company delivered an EPS surprise of +9.52%, with the consensus EPS estimate being $0.21.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Antero Midstream Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average Daily Volumes - Low Pressure Gathering: 3323 millions of cubic feet versus the three-analyst average estimate of 3239.82 millions of cubic feet.
Average Daily Volumes - High Pressure: 2935 millions of cubic feet versus 2883.63 millions of cubic feet estimated by three analysts on average.
Average Daily Volumes - Compression: 3271 millions of cubic feet versus 3151.76 millions of cubic feet estimated by three analysts on average.
Average Daily Volumes - Fresh water delivery: 106 millions of barrels of oil compared to the 97.7 millions of barrels of oil average estimate based on three analysts.
Average Daily Volumes - Other fluid handling: 54 millions of barrels of oil versus 56.7 millions of barrels of oil estimated by two analysts on average.
Revenues- Water Handling - Antero Resources: $66.13 million versus the three-analyst average estimate of $61.89 million.
Revenues- Gathering and Processing - Antero Resources: $214.99 million compared to the $208.78 million average estimate based on three analysts.
Revenues- Gathering and Processing: $205.72 million compared to the $198.31 million average estimate based on two analysts. The reported number represents a change of +16.6% year over year.
Revenues- Water Handling: $58.12 million versus $55.37 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +6.3% change.
Revenues- Amortization of customer relationships: -$17.67 million compared to the -$17.67 million average estimate based on two analysts.
View all Key Company Metrics for Antero Midstream Corporation here>>>
Shares of Antero Midstream Corporation have returned +2.8% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Antero Midstream Corporation (AM) : Free Stock Analysis Report
