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AR NYSE· Antero Resources Corporation
Earnings report Q4 2023

Antero Resources Corporation Reports Strong Revenue Growth in Latest Quarter

Segments of Revenue

Antero Resources Corporation reported robust revenue growth in its latest quarter. The company's revenue is disaggregated by type and reportable segment as follows:

  • Natural gas sales: $3.44 billion in 2021, $5.52 billion in 2022, and $2.19 billion in 2023. This revenue is generated from the exploration and production segment.
  • Natural gas liquids sales (ethane): $206.89 million in 2021, $384.08 million in 2022, and $250.12 million in 2023. This revenue is also generated from the exploration and production segment.
  • Natural gas liquids sales (C3+ NGLs): $1.94 billion in 2021, $2.11 billion in 2022, and $1.59 billion in 2023. This revenue is generated from the exploration and production segment.
  • Oil sales: $201.23 million in 2021, $275.67 million in 2022, and $247.15 million in 2023. This revenue is generated from the exploration and production segment.
  • Marketing: $718.92 million in 2021, $416.76 million in 2022, and $206.12 million in 2023. This revenue is generated from the marketing segment.
  • Other revenue: $633,000 in 2023. This revenue is generated from the exploration and production segment.

Strengths

Antero Resources Corporation demonstrated strong financial performance in the latest quarter, primarily driven by significant revenue growth across its reportable segments. The company experienced consistent growth in natural gas sales, natural gas liquids sales, and oil sales, indicating a robust exploration and production business. Additionally, the marketing segment contributed to the company's revenue growth. Antero Resources' ability to generate revenue from multiple sources showcases its diversified revenue streams and resilience in the energy market.

Challenges

While Antero Resources Corporation achieved impressive revenue growth, it is important to note that the company experienced a decline in revenue from natural gas sales in 2023 compared to the previous two years. This decline may be attributed to various factors, such as fluctuations in natural gas prices or changes in market demand. Antero Resources should closely monitor these challenges to ensure sustainable revenue growth in the future.

Noteworthy

One noteworthy aspect of Antero Resources Corporation's performance is the significant increase in total revenue from contracts with customers. The company's revenue grew from $6.51 billion in 2021 to $8.71 billion in 2022, representing a substantial growth rate. This growth can be attributed to the company's successful execution of contracts and its ability to capitalize on market opportunities. Antero Resources' focus on customer relationships and effective marketing strategies likely contributed to this remarkable revenue growth.

Summary

Antero Resources Corporation delivered a strong financial performance in the latest quarter, driven by robust revenue growth across its reportable segments. The company experienced consistent growth in natural gas sales, natural gas liquids sales, and oil sales, highlighting its strong exploration and production business. Additionally, the marketing segment contributed to the company's revenue growth. While Antero Resources faced challenges in declining revenue from natural gas sales in 2023, its overall revenue growth and ability to generate revenue from multiple sources demonstrate its resilience in the energy market. The significant increase in total revenue from contracts with customers further underscores the company's successful execution of contracts and effective marketing strategies. Antero Resources Corporation's strong revenue performance positions it well for future growth and success in the industry.

Source documents

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

Reference data

Company financials Q4 revenue 1.16B
Analyst estimates Q4 EPS beat by 656.97%
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