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Antero Midstream Corporation AM Gathering And Compression — Direct Operating Costs

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$47.99M+28.1%

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Other financials

Income statement

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Revenue$327.2M+7.1%
Operating income$181.9M-2.4%
Net income$113.5M-8.8%
EPS (diluted)$0.24-7.7%

Balance sheet

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Cash & equivalents$180.4M
Total debt$3.6B+19.4%
Total equity$1.9B-6.8%
Total assets$6.4B+11.1%

Cash flow

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Operating cash flow$254.2M-4.1%
CapEx$68.6M+2,286,100%
Free cash flow$232.7M+11.7%

Valuation

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Market cap$10.04B+12.4%
P/E25.1×+5.5×
P/S8.1×+0.4×

Profitability

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Operating margin52.8%-8.2pp
Net margin32.4%-7.1pp
FCF margin70%-4.8pp

Returns & leverage

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Return on equity19.8%-1.8pp
Debt / equity1.9×+0.4×
Current ratio0.8×-0.2×

Where this comes from

Reported directly by Antero Midstream Corporation in its filing.

Tagged under the XBRL concept us-gaap:DirectOperatingCosts.

The source filing: Antero Midstream Corporation’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 4:15 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001104659-26-088150
(in thousands)Gathering and / ProcessingWater / HandlingUnallocated (1)Consolidated / Total
Amortization of customer relationships(13,784)(9,018)(22,802)
Total revenues257,72369,521327,244
Operating expenses:
Direct operating36,53347,99384,526
General and administrative (excluding equity-based compensation)6,5642,6252,54011,729
Equity-based compensation7,9882,52631410,828
Facility idling287287
Depreciation18,88418,49437,378

Item 1. Condensed Consolidated Financial Statements (Unaudited)

FAQ

What is Antero Midstream Corporation's gathering and compression — direct operating costs?
Antero Midstream Corporation (AM) reported gathering and compression — direct operating costs of $36.53M in Q2 2026.
How has Antero Midstream Corporation's gathering and compression — direct operating costs changed year-over-year?
Antero Midstream Corporation's gathering and compression — direct operating costs increased by 42.4% year-over-year, from $25.66M to $36.53M.
What is the long-term trend for Antero Midstream Corporation's gathering and compression — direct operating costs?
Over 4 years (2021 to 2025), Antero Midstream Corporation's gathering and compression — direct operating costs has grown at a 13.1% compound annual growth rate (CAGR), from $65.98M to $107.85M.
What does gathering and compression — direct operating costs mean?
These are the variable and fixed costs directly attributable to the operation and maintenance of gathering pipelines and compression stations. It includes labor, power, maintenance, and field-level operational expenses.

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