The following is a summary of the Antero Midstream Corporation (AM) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Antero Midstream reported an Adjusted EBITDA of $255 million for Q2 2024, marking a 5% increase year-over-year.

• Free cash flow after dividends was reported at $43 million, which represents a 41% increase from the previous year's second quarter.

• Despite a $70 million acquisition during the quarter, leverage remained stable at 3.1 times.

Business Progress:

• Antero Midstream closed a $70 million bolt-on acquisition from Summit Midstream, which included two compressor stations and approximately 50 miles of pipelines.

• The company leveraged its financial initiatives through the issuance of $600 million of senior notes and refinancing efforts that will extend debt maturities and reduce interest expenses.

• Antero Midstream is approaching a leverage target of 3 times, setting the stage for potential return of additional capital to shareholders.

Opportunities:

• The acquisition provides Antero Midstream with added infrastructure connected to its existing assets, supporting future development and fueling growth.

Risks:

• No explicit risks/opportunities detected.

More details: Antero Midstream IR

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