Antero Midstream reported strong financial results for Q3 2025, demonstrating robust growth in EBITDA and free cash flow, bolstered by significant capital investments and strategic asset acquisitions.

• Adjusted EBITDA increased by 10% year-over-year to $281 million, driven by a 5% rise in gathering and compression volumes.
• Free cash flow after dividends reached $78 million, a remarkable 94% increase from the previous year, facilitating share repurchases and debt reduction.
• Total capital investment for the quarter was $51 million with 75% of the 2025 budget already allocated, reflecting ongoing expansion in the Marcellus Shale region.
• Leverage improved to 2.7x, following a $175 million reduction in absolute debt and a recent refinancing that extended maturity to 2033 at a favorable coupon rate.
• Antero is actively exploring behind-the-meter opportunities and in-basin demand growth, positioning itself for future market needs and infrastructure developments.