Antero Midstream (AM) Is Up 9.0% After Raising 2025 Outlook on Record Volumes and Profitability

• Antero Midstream Corporation announced strong second quarter 2025 results in late July, reporting revenue of US$305.47 million and net income of US$124.51 million, both up meaningfully from the prior year period, and raised its full-year net income guidance to US$455–495 million.
• The company also increased its 2025 free cash flow guidance and achieved record operational volumes, highlighting improved profitability and ongoing infrastructure growth in response to robust demand and efficiency gains.
• We'll examine how Antero Midstream’s raised full-year outlook and record operational volumes could influence its long-term investment narrative.

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Antero Midstream Investment Narrative Recap

To be a shareholder in Antero Midstream, you have to believe that sustained growth in U.S. natural gas demand, ongoing infrastructure development, and strong fee-based contracts with Antero Resources provide stability and cash flow visibility. While the company’s raised net income guidance and record Q2 operational volumes support near-term confidence, they don’t materially alter the biggest short-term catalyst, continued demand from LNG and Northeast markets, or significantly lower the main risk of concentration exposure to Appalachia operations and Antero Resources reliance.

Antero Midstream’s recently announced increase in 2025 free cash flow guidance stands out, directly tied to higher gathering and processing volumes as well as reduced capital spending. This matters because it reinforces the primary catalyst: the company’s ability to convert expanding operational activity into stronger cash generation, which supports existing dividends, potential buybacks, and optionality around future investments.

However, investors should be aware that even as volumes and outlooks improve, the company’s reliance on a single production region and customer means...

Read the full narrative on Antero Midstream (it's free!)

Antero Midstream is projected to generate $1.3 billion in revenue and $661.5 million in earnings by 2028. This outlook is based on a 1.2% annual revenue growth rate and a $205.9 million increase in earnings from the current $455.6 million.

Uncover how Antero Midstream's forecasts yield a $17.50 fair value, a 6% downside to its current price.

Exploring Other Perspectives

The Simply Wall St Community has provided four fair value estimates for Antero Midstream, ranging widely from US$13.50 to US$41.80 per share. While many see potential upside, future growth remains intertwined with key risks given the company’s operational dependence on Appalachia volumes and relationships, review these contrasting viewpoints to gain a broader perspective.

Explore 4 other fair value estimates on Antero Midstream - why the stock might be worth 28% less than the current price!

Build Your Own Antero Midstream Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Antero Midstream research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Antero Midstream research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Antero Midstream's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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