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Antero Resources Corporation

Antero Resources Corporation

NYSE•AR
CEO: Mr. Paul M. Rady
Sector: Energy
Industry: Oil & Gas Exploration & Production
Listing Date: 2013-10-10
Antero Resources Corporation, an independent oil and natural gas company, engages in the development, production, exploration, and acquisition of natural gas, natural gas liquids (NGLs), and oil properties in the United States. It operates in three segments: Exploration and Development; Marketing; and Equity Method Investment in Antero Midstream. As of December 31, 2023, the company had approximately 515,000 net acres in the Appalachian Basin; and approximately 172,000 net acres in the Upper Devonian Shale. Its gathering and compression systems also comprise 631 miles of gas gathering pipelines in the Appalachian Basin. The company was formerly known as Antero Resources Appalachian Corporation and changed its name to Antero Resources Corporation in June 2013. Antero Resources Corporation was incorporated in 2002 and is headquartered in Denver, Colorado.
Contact Information
1615 Wynkoop Street, Denver, CO, 80202, United States
303-357-7310
www.anteroresources.com
Market Cap
$10.58B
P/E (TTM)
19.3
17.6
Dividend Yield
--
52W High
$44.02
52W Low
$29.10
52W Range
35%
Rank44Top 53.8%
3.7
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.7 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$1.17B+19.44%
4-Quarter Trend

EPS

$0.25-457.14%
4-Quarter Trend

FCF

$341.10M-11.95%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Q3 Revenue Increased 15.0% Total revenue for Q3 2025 reached 1.214B USD, marking a 15.0% increase over Q3 2024 results driven by strong natural gas sales.
Profitability Reversal Achieved Net income attributable to AR Corp swung to 76.18M USD for Q3 2025, compared to a 35.35M USD loss in the prior period.
Operating Cash Flow Doubled Net cash provided by operating activities more than doubled to 1.260B USD for the nine months ended September 2025.
Long-Term Debt Reduced Long-term debt decreased by 182.01M USD to 1.307B USD by September 30, 2025, following significant note redemptions.

Risk Factors

Commodity Price Volatility Risk Prices for NGLs and oil decreased during Q3 2025, creating ongoing revenue uncertainty despite higher benchmark natural gas prices.
Royalty Litigation Exposure Potential royalty underpayment losses estimated up to $400M remain subject to uncertain legal rulings in ongoing class action matters.
Increased Investing Cash Use Investing cash used increased to 854.19M USD for nine months due to $241M in asset acquisitions completed during Q3 2025.
Derivative Fair Value Swings Unhedged derivative positions expose earnings to volatility, resulting in a net liability fair value of $7M as of September 30, 2025.

Outlook

Credit Facility Maturity Extended Maturity Date for Unsecured Credit Facility extended one year to July 30, 2030, subject to satisfaction of certain lender conditions.
2025 Capital Budget Finalized Net capital budget for 2025 revised to $775M–$825M, focusing on completing 60 to 65 net horizontal wells in Appalachian Basin.
Share Repurchase Capacity Approximately $915M capacity remains available under the authorized $2.0B common stock repurchase program as of September 30, 2025.
2024 Partnership Carry Review The IRR and potential carry payment determination for the 2024 Drilling Partnership tranche is expected during Q4 2025.

Peer Comparison

Revenue (TTM)

HF Sinclair CorporationDINO
$26.90B
-9.5%
YPF Sociedad AnónimaYPF
$18.93B
+42.1%
APA CorporationAPA
$9.64B
+4.9%

Gross Margin (Latest Quarter)

DT Midstream, Inc.DTM
73.2%
+20.0pp
National Fuel Gas CompanyNFG
70.6%
+31.9pp
Antero Midstream CorporationAM
64.8%
+0.2pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
YPF$14.29B-38.9-4.0%38.0%
DTM$12.44B30.88.6%33.5%
PR$11.01B12.88.5%21.4%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
0.7%
Moderate Growth
4Q Net Income CAGR
-10.7%
Declining Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 11, 2026
|
EPS:$0.47
|
Revenue:$1.33B
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 29, 2025|
    Revenue: $1.17B+19.4%
    |
    EPS: $0.25-457.1%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 30, 2025|
    Revenue: $1.20B+29.7%
    |
    EPS: $0.50-292.3%
    Meet

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 30, 2025|
    Revenue: $1.39B+31.7%
    |
    EPS: $0.67+857.1%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 12, 2025|
    Revenue: $4.12B-3.7%
    |
    EPS: $0.18-72.7%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 30, 2024|
    Revenue: $983.58M-7.4%
    |
    EPS: $-0.07-216.7%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 31, 2024|
    Revenue: $928.08M+3.9%
    |
    EPS: $-0.26-7.1%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: Apr 24, 2024|
    Revenue: $1.06B-13.0%
    |
    EPS: $0.07-90.3%
    Beat

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 14, 2024|
    Revenue: $4.28B-48.4%
    |
    EPS: $0.66-89.3%
    Meet