Antero Midstream Q4 profit falls 52% on $86.6 million write-down; 2026 outlook given
Antero Midstream reported fourth-quarter 2025 results and 2026 guidance. GAAP net income fell to $52 million, or $0.11 per diluted share, from a year earlier, mainly because of an $86.6 million non-cash write-down of Utica Shale assets held for sale, while adjusted net income rose 8% per share to $0.28 and adjusted EBITDA rose 4% to $285 million. The company forecasts 2026 net income of $485 million to $535 million and adjusted EBITDA of $1.19 billion to $1.24 billion.
Key points
- Q4 2025 net income was $52 million, or $0.11 per diluted share, versus $111 million, or $0.23, a year earlier
- Q4 2025 adjusted net income was $133 million, or $0.28 per diluted share, an 8% per-share increase (non-GAAP)
- Q4 2025 revenue was $297 million, up from $287 million; adjusted EBITDA was $285 million (non-GAAP)
- 2026 guidance: net income of $485 million to $535 million; adjusted EBITDA of $1.19 billion to $1.24 billion; HG Midstream acquisition closed in early February 2026
The filing
Written by AI on Nov 8, 2026, 1:17 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 11, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.