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AM NYSE· Antero Midstream Corporation
Earnings report Q4 2023

AM Reports Strong Revenue Growth in Latest Quarter

Segments of revenue

In the latest quarter, AM reported total revenues of $919.99 million. The breakdown of revenue segments is as follows:

  • Third-party revenue: $2.62 million
  • Gathering-low pressure fee rebate: ($48,000)
  • Amortization of customer relationships: ($70.67 million)

Strengths

AM demonstrated strong revenue growth in the latest quarter, with total revenues reaching $919.99 million. This represents a significant increase compared to the previous quarter's revenue of $213.81 million. The growth can be attributed to the positive performance of the third-party revenue segment, which generated $2.62 million. Additionally, management highlighted the successful implementation of customer relationship strategies, resulting in increased revenue from customer relationships.

Challenges

Despite the overall positive revenue growth, AM faced challenges in the latest quarter. The gathering-low pressure fee rebate segment reported a negative impact of ($48,000) on revenue. Furthermore, the amortization of customer relationships had a negative impact of ($70.67 million) on revenue. These challenges indicate potential areas for improvement and optimization in the company's operations.

Noteworthy

It is worth noting that AM's total revenues in the latest quarter showed a significant improvement compared to the same quarter in the previous year. The company reported a revenue increase of $706.18 million, reflecting a strong growth trajectory. Additionally, the gain on asset sale had a negative impact of ($2.25 million) on operating expenses, which may have contributed to the overall positive revenue performance.

Summary

AM delivered a strong performance in terms of revenue growth in the latest quarter. The company's total revenues reached $919.99 million, driven by positive performance in the third-party revenue segment and successful customer relationship strategies. However, challenges were observed in the gathering-low pressure fee rebate and amortization of customer relationships segments. Despite these challenges, AM's revenue growth trajectory remains positive, indicating potential opportunities for further improvement and optimization in the company's operations.

Source documents

Form 10-K  filed on Feb 14, 2024
143 pages scanned

Reference data

Company financials Q4 revenue 297M
Analyst estimates Q4 EPS missed by -100.00%
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