AR
Antero Resources Corporation
Price as of Jul 20, 2026
AR earnings
Antero Resources Corporation earnings
Reported EPS and revenue history, upcoming estimates and available earnings-call summaries.
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $1.17 | $1.15 | -1.7% | $1.9B | +16.8% |
| Feb 11, 2026 | $0.52 | $0.62 | +19.2% | $1.5B | +14.9% |
| Oct 29, 2025 | $0.22 | $0.15 | -31.8% | $1.2B | -16.8% |
| Jul 30, 2025 | $0.42 | $0.35 | -16.5% | $1.2B | -3.1% |
| Apr 30, 2025 | $0.83 | $0.78 | -6.5% | $1.4B | -3.2% |
| Feb 12, 2025 | $0.40 | $0.58 | +45.0% | $1.2B | +4.5% |
| Oct 30, 2024 | $-0.04 | $-0.12 | -172.7% | $1.1B | -10.0% |
| Jul 31, 2024 | $-0.18 | $-0.19 | -7.3% | $984M | +1.4% |
| Feb 14, 2024 | $0.21 | $0.23 | +9.5% | $1.2B | +0.2% |
| Oct 25, 2023 | $0.04 | $0.08 | +79.5% | $1.1B | -1.0% |
| Jul 26, 2023 | $-0.27 | $-0.28 | -3.7% | $894M | -15.2% |
| Feb 15, 2023 | $0.83 | $1.04 | +25.3% | $1.8B | +16.3% |
Earnings call summary
Q1 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Praised operations team for 100% uptime during winter storm. - Closed HG acquisition and Ohio Utica shale divestiture. HG acquisition drives cash costs down, margin enhancement. Integration ahead of schedule, first HG pad turned in line. - Production growth expected to continue. - Free cash flow used to accelerate debt reduction. - Natural gas hedge strategy targets 25-50% of annual production. - Liquids marketing discusses global NGL market impact of Middle East events, U.S. NGL export capacity expansions. - Natural gas marketing talks about LNG export demand increase, EU storage issues, regional power demand projects. - CFO discusses cash cost reductions, progress on funding HG acquisition.
Guidance
- Expected full-year production 4.1 BCFE per day, ~20% increase from 2025. - Target to hit leveraged target of one times by mid-2026, six months ahead of prior expectations. - Free cash flow used to accelerate debt reduction on HG acquisition. - CurrentSRIP expects to fully fund HG acquisition by early next year, nearly a year ahead of initial expectations.
Segment performance
Production was a record 3.9 BCFE per day in Q1, 13% above year-ago. Full-year production expected to be 4.1 BCFE per day, ~20% increase from 2025. HG acquisition added production, cash flow, ~400k net acres and 400 drilling locations. Cash costs down 30 cents per MCFE. Quarterly free cash flow $657 million, second highest in company history. Over 60% of natural gas volumes hedged for 2026, one-third for 2027. Unhedged on liquids. Intero has highest LNG exposure among Appalachian producers, largest producer-exporter of NGLs.
Risks & headwinds
- Uncertainties in global energy markets from Middle East events, including ongoing conflict affecting NGL and oil product prices, supply disruptions, and transit through Strait of Hormuz. - Difficulty in providing updated guidance with high confidence due to too many uncertainties in current financial market and supply shock.
Analyst Q&A
Q: Arun Jayaram from JPMorgan Chase & Company asked about marketing arrangements and NGL realization guidance.
A: Dave responded on international exposure, ethane break-out for transparency, and conservativeness in guidance.
Q: Kevin McCurdy from Pickering Energy Partners asked about cash production expenses and CapEx budget.
A: Brendan responded majority of cash cost reduction from HG acquisition, and CapEx is $1 billion with potential to spend extra $200 million discretionary.
Q: John Freeman from Raymond James asked about gas supply arrangements mix and free cash flow.
A: Brendan responded on regional local demand, and assumption of share buybacks with term loan paid off.
Q: Gabe Dowd from Truly Showriders asked about future M&As and AM's advantage.
A: Mike responded on evaluating West Virginia acreage and AM's water system advantage.
Q: Jacob Roberts from TPH asked about liquids cut and processing cost reduction.
A: Brendan responded on balanced development and recontracting potential.
Q: Josh Silverstein from EBS for Writers.Live asked about power capacity and HG acquisition synergies.
A: Josh was responded on local demand and efficiency improvements in HG acquisition.
Q: Neil Maytop from Goldman Sachs asked about propane dock capacity and expansions.
A: Dave responded on export potential and tracking of dock expansions.
Q: Philip Youngworth from BMO asked about West Virginia's advantage and regional gas demand projects.
A: Mike responded on West Virginia's advantages and project timings.
Q: Leo Beriani from Roth asked about capital and synergies.
A: Brendan responded on capital spending in second half and synergy realization.
Q: Doug McGrath from Wolf Research asked about Mount Bellevue premium and data center negotiations.
A: Dave responded on premium relation to exports and request for proposal nature of negotiations.
Q: Paul Diamond from City asked about AI power contracts and balance between gas and liquids.
A: Paul was responded on deal nature and balance in production structure.
Earnings history is derived from company filings and calendar data. Call summaries are grouped by reporting period. Latest covered event: 2026-07-29.