JNJ-6143 is an investigational, once-daily, novel, small molecule designed to trigger cancer cell death through a targeted dual-protein lock between BRD4 and androgen receptor, a highly expressed tumor-selective protein in prostate cancer cellsAmong patients with measurable disease in the 50 mg cohort, 75% achieved a complete or partial tumor response in the Phase 1 study77% of patients achieved a confirmed PSA reduction of at least 50%, including nearly half whose PSA levels fell by at least 90%, /PRNewswire/ -- Johnson & Johnson
NYSE:JNJ today announced promising Phase 1 results for JNJ-6143 (formerly HLD-0915), an investigational once-daily oral Regulated Induced Proximity Targeting Chimera (RIPTAC) small molecule, in patients with advanced prostate cancer who had received multiple prior treatments. Among patients with measurable disease, 75 percent (12 out of 16) had a confirmed complete or partial response assessed by Response Evaluation Criteria in Solid Tumors (RECIST). At the 50 mg dose, 77 percent of patients achieved a confirmed reduction in prostate-specific antigen (PSA) levels of at least 50 percent, and 48 percent had reductions of at least 90 percent. Most treatment-related adverse events were mild to moderate. Data from this study support the selection of the 50-mg once-daily dose for continued clinical development and were presented in a Proffered Paper session at the European Society for Medical Oncology (ESMO) Congress 2026 (#2216O).1
JNJ-6143 is the first investigational molecule from the Company's RIPTAC platform to advance into clinical studies. The novel mechanism disrupts cancer cell function and triggers cancer cell death using a targeted dual-protein lock between an essential cell survival protein, BRD4, and androgen receptor (AR), a tumor-selective protein, which is highly expressed in prostate cancer cells.
Significant unmet needs remain in advanced prostate cancer
Despite advances in treatment, including therapies that target the AR pathway, chemotherapy and radioligand therapy targeting prostate-specific membrane antigen (PSMA), many patients with advanced prostate cancer experience disease progression and are left with fewer options.2 Median overall survival is approximately two to three years for patients with metastatic androgen pathway modulation-resistant prostate cancer (mAPMR), also known as metastatic castration-resistant prostate cancer (mCRPC), highlighting the need for new treatment approaches with different mechanisms of action.3,4
Expert and company perspectives on the potential of JNJ-6143
"Patients with advanced prostate cancer often go through several treatments as their disease becomes increasingly difficult to control, signaling a significant need for treatments that work differently," said Professor Johann de Bono, M.D.,* Head of Division: Cancer Biomarkers, Prostate Cancer Targeted Therapy Group, The Adult Drug Development Unit, ICR Cancer Research Institute, London, UK. "These early results with JNJ-6143 are encouraging because we are seeing meaningful anti-tumor activity in patients who have already received multiple therapies. The findings give us confidence to further evaluate this new approach for those with difficult-to-treat disease."
"For nearly two decades, we have driven progress in prostate cancer care by repeatedly pursuing new scientific approaches with the potential to change the course of the disease," said Yusri Elsayed, M.D., M.H.Sc., Ph.D., Global Therapeutic Area Head, Oncology, Johnson & Johnson. "JNJ-6143 builds on that approach, bringing a fundamentally different oral mechanism to our prostate cancer pipeline. These early results provide an encouraging foundation for its continued development and our broader exploration of the RIPTAC platform across multiple cancer types."
Early evidence of deep responses supports continued development
The ongoing Phase 1 study is evaluating the safety and anti-tumor activity of JNJ-6143 and was designed to identify the optimal dose for further study in patients with advanced prostate cancer whose disease progressed after prior treatment. Patients received a median of four prior therapies, including chemotherapy and PSMA-targeted radioligand therapy.1
Among 38 patients receiving the 50-mg once-daily dose, 77 percent had a confirmed reduction of at least 50 percent in PSA, a protein measured in the blood to help monitor prostate cancer, including 48 percent whose PSA levels fell by at least 90 percent. Reductions in PSA were also observed in patients with high-risk molecular features associated with difficult-to-treat disease. Among patients whose tumors could be measured using imaging, 75 percent had a confirmed complete or partial response.1
At the time of the analysis, 71 percent of patients receiving the 50-mg dose remained on treatment, with a median follow-up of 5.6 months. The most common treatment-related adverse events were elevated cholesterol levels (18 percent), nausea (16 percent), and elevated triglyceride levels (16 percent). Four patients (11 percent) interrupted their dose, one patient (three percent) reduced their dose, and one patient (three percent) discontinued treatment due to adverse events.1
The 50-mg once-daily dose will advance into further clinical development, including the Phase 2 study (NCT07832292) of JNJ-6143 in metastatic prostate cancer.5
About the Phase 1 study
The Phase 1 study (NCT06800313) is a multicenter dose-escalation and dose-expansion study of JNJ-6143 in patients with metastatic androgen pathway modulation-resistant prostate cancer (mAPMR) whose disease progressed after one or more androgen receptor pathway inhibitors. The study is evaluating the safety, pharmacokinetics and anti-tumor activity of JNJ-6143 and is designed to determine the maximum tolerated dose and optimal dose for further development. Patients had received a median of four prior therapies, including chemotherapy and PSMA-targeted radioligand therapy.6
The dose-escalation portion evaluated once-daily doses of JNJ-6143 ranging from 12.5 mg to 150 mg, followed by dose expansion randomizing patients 1:1 to receive 25 mg or 50 mg once daily. The 50-mg once-daily dose was identified as the preliminary optimal dose for further development based on the clinical activity, safety and pharmacokinetic data observed in the study.6
About metastatic androgen pathway modulation-resistant prostate cancer (mAPMR)
Metastatic androgen pathway modulation-resistant prostate cancer (mAPMR), also known as metastatic castration-resistant prostate cancer (mCRPC), is an advanced form of prostate cancer that continues to progress despite treatments that target the androgen receptor pathway.2 As the disease progresses, it can spread to other parts of the body, including the bones and lymph nodes, and patients may receive additional treatments such as chemotherapy and radioligand therapy targeting prostate-specific membrane antigen (PSMA).7
Patients with metastatic prostate cancer that has become resistant to androgen pathway modulation face poor outcomes, with survival varying based on factors including the location and extent of disease, prior treatment history and response to therapy. Median overall survival ranges from approximately 13.5 to 31.6 months depending on the site of metastasis.3,4
About JNJ-6143
JNJ-6143 is an investigational, once-daily molecule that uses the novel RIPTAC platform. Its targeted dual-protein lock brings together BRD4, an essential protein for cell survival, and the tumor-selective protein, androgen receptor (AR), which is highly expressed in prostate cancer cells, and is designed to disrupt cancer cell function and trigger cancer cell death.
JNJ-6143 is being evaluated in Phase 1 (NCT06800313) and Phase 2 (NCT07832292) studies in patients with metastatic prostate cancer. It is the first investigational compound from the RIPTAC platform to advance into clinical studies.
In December 2025, Johnson & Johnson completed its acquisition of Halda Therapeutics, adding JNJ-6143 and the RIPTAC platform to its oncology portfolio.
About the Regulated Induced Proximity Targeting Chimera (RIPTAC) platform
The investigational proprietary RIPTAC platform is being explored for the development of oral targeted therapies across multiple tumor types. RIPTAC molecules use a targeted dual-protein lock between an essential protein for cell survival and a tumor-selective protein, designed to disrupt cancer cell function and trigger cancer cell death. Johnson & Johnson is advancing investigational candidates based on the RIPTAC platform, including JNJ-6143 in advanced prostate cancer.
About Johnson & Johnson
At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow and profoundly impact health for humanity. Learn more at https://www.jnj.com/ or at www.innovativemedicine.jnj.com. Follow us at @JNJInnovMed.
Cautions Concerning Forward-Looking Statements
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding product development and the potential benefits and treatment impact of JNJ-6143. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges and uncertainties inherent in product research and development, including the uncertainty of clinical success and of obtaining regulatory approvals; uncertainty of commercial success; manufacturing difficulties and delays; competition, including technological advances, new products and patents attained by competitors; challenges to patents; product efficacy or safety concerns resulting in product recalls or regulatory action; changes in behavior and spending patterns of purchasers of health care products and services; changes to applicable laws and regulations, including global health care reforms; and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's most recent Annual Report on Form 10-K, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and in Johnson & Johnson's subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com, www.investor.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.
*Prof. de Bono has provided consulting, advisory and speaking services to Johnson & Johnson. He has not been paid for any media work.
Source: Johnson & Johnson
_________________________
1 Garmezy B, et al. Safety and efficacy of JNJ-6143, a first-in-class oral AR-targeted Regulated Induced Proximity Targeting Chimera molecule in patients with mCRPC/mAPMR, including high-risk molecular features. Presented at: European Society for Medical Oncology (ESMO) 2026 Congress; October 24, 2026; Madrid.
2 Kushwaha PP, Gupta S. New insights for drug resistance in metastatic castration-resistant prostate cancer. Cancer Drug Resist. 2022;5(3):846-849. doi:10.20517/cdr.2022.83
3 Wallace KL, Landsteiner A, Bunner SH, et al. Increasing prevalence of metastatic castration-resistant prostate cancer in a managed care population in the United States. Cancer Causes Control. 2021;32(12):1365-1374. doi:10.1007/s10552-021-01484-4
4 Kawahara T, Saigusa Y, Yoneyama S, et al. Development and validation of a survival nomogram and calculator for male patients with metastatic castration-resistant prostate cancer treated with abiraterone acetate and/or enzalutamide. BMC Cancer. 2023;23:214. doi:10.1186/s12885-023-10700-0
5 ClinicalTrials.gov. A Study of JNJ-101556143 in Participants With Metastatic Prostate Cancer. https://clinicaltrials.gov/study/NCT07832292. Accessed October 2026.
6 ClinicalTrials.gov. Study of HLD-0915 (JNJ-101556143) in Patients With Metastatic Prostate Cancer. https://clinicaltrials.gov/study/NCT06800313. Accessed October 2026.
7 Wallace K, Landsteiner A, Bunner S, et al. Epidemiology and mortality of metastatic castration-resistant prostate cancer (mCRPC) in a managed care population in the United States. J Clin Oncol. 2020;38(15_suppl):e13592. doi:10.1200/JCO.2020.38.15_suppl.e13592
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Antero Resources (AR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the "long context," investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Antero Resources (AR - Free Report) , which currently has a Momentum Style Score of A. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Antero Resources currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?Let's discuss some of the components of the Momentum Style Score for AR that show why this oil and natural gas producer shows promise as a solid momentum pick.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For AR, shares are up 7.66% over the past week while the Zacks Oil and Gas - Exploration and Production - United States industry is up 1.98% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 10.87% compares favorably with the industry's 1.25% performance as well.
While any stock can see its price increase, it takes a real winner to consistently beat the market. That is why looking at longer term price metrics -- such as performance over the past three months or year -- can be useful as well. Shares of Antero Resources have increased 9.55% over the past quarter, and have gained 25.57% in the last year. In comparison, the S&P 500 has only moved 1.92% and 16.73%, respectively.
Investors should also take note of AR's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now AR is averaging 4,052,030 shares for the last 20 days..
Earnings OutlookThe Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with AR.
Over the past two months, 6 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost AR's consensus estimate, increasing from $4.10 to $4.41 in the past 60 days. Looking at the next fiscal year, 7 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom LineGiven these factors, it shouldn't be surprising that AR is a #2 (Buy) stock and boasts a Momentum Score of A. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep Antero Resources on your short list.
While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.
On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.
Antero Resources (AR - Free Report) is a stock many investors are watching right now. AR is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A. The stock is trading with P/E ratio of 9.24 right now. For comparison, its industry sports an average P/E of 10.44. Over the last 12 months, AR's Forward P/E has been as high as 374.60 and as low as 7.90, with a median of 11.46.
Another notable valuation metric for AR is its P/B ratio of 1.31. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 2.99. Within the past 52 weeks, AR's P/B has been as high as 1.84 and as low as 1.11, with a median of 1.45.
Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. AR has a P/S ratio of 1.94. This compares to its industry's average P/S of 1.97.
Finally, investors should note that AR has a P/CF ratio of 7.94. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. AR's current P/CF looks attractive when compared to its industry's average P/CF of 11.74. Within the past 12 months, AR's P/CF has been as high as 17.33 and as low as 7.48, with a median of 13.15.
Chord Energy Corporation (CHRD - Free Report) may be another strong Oil and Gas - Exploration and Production - United States stock to add to your shortlist. CHRD is a Zacks Rank of #2 (Buy) stock with a Value grade of A.
Shares of Chord Energy Corporation currently hold a Forward P/E ratio of 11.01, and its PEG ratio is 7.37. In comparison, its industry sports average P/E and PEG ratios of 10.44 and 1.00.
CHRD's Forward P/E has been as high as 12.38 and as low as 6.26, with a median of 8.29. During the same time period, its PEG ratio has been as high as 7.90, as low as 4.15, with a median of 5.35.
Chord Energy Corporation also has a P/B ratio of 0.72 compared to its industry's price-to-book ratio of 2.99. Over the past year, its P/B ratio has been as high as 0.97, as low as 0.57, with a median of 0.78.
These figures are just a handful of the metrics value investors tend to look at, but they help show that Antero Resources and Chord Energy Corporation are likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, AR and CHRD feels like a great value stock at the moment.
Antero Resources (AR - Free Report) closed the last trading session at $38.65, gaining 10.9% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $48.95 indicates a 26.7% upside potential.
The average comprises 22 short-term price targets ranging from a low of $36.00 to a high of $58.00, with a standard deviation of $5.95. While the lowest estimate indicates a decline of 6.9% from the current price level, the most optimistic estimate points to a 50.1% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.
But, for AR, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.
Price, Consensus and EPS Surprise
Here's What You Should Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Here's Why There Could be Plenty of Upside Left in ARThere has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Over the last 30 days, the Zacks Consensus Estimate for the current year has increased 2%, as three estimates have moved higher while one has gone lower.
Moreover, AR currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Therefore, while the consensus price target may not be a reliable indicator of how much AR could gain, the direction of price movement it implies does appear to be a good guide.
Counterpoint Mutual Funds LLC raised its position in Antero Resources Corporation (NYSE:AR – Free Report) by 3,281.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 273,369 shares of the oil and natural gas company’s stock after acquiring an additional 265,284 shares during the quarter. Counterpoint Mutual Funds LLC owned approximately 0.09% of Antero Resources worth $9,128,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its position in Antero Resources by 1.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 29,126 shares of the oil and natural gas company’s stock valued at $972,000 after acquiring an additional 285 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its stake in Antero Resources by 4.3% during the first quarter. Fifth Third Wealth Advisors LLC now owns 9,362 shares of the oil and natural gas company’s stock valued at $397,000 after buying an additional 389 shares during the last quarter. Arizona State Retirement System raised its position in shares of Antero Resources by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 80,875 shares of the oil and natural gas company’s stock worth $2,842,000 after purchasing an additional 394 shares during the last quarter. Twin Capital Management Inc. raised its holdings in Antero Resources by 1.5% in the first quarter. Twin Capital Management Inc. now owns 30,195 shares of the oil and natural gas company’s stock worth $1,281,000 after buying an additional 437 shares during the last quarter. Finally, Hilton Head Capital Partners LLC raised its holdings in Antero Resources by 35.3% in the 1st quarter. Hilton Head Capital Partners LLC now owns 1,739 shares of the oil and natural gas company’s stock worth $74,000 after acquiring an additional 454 shares during the last quarter. Institutional investors own 83.04% of the company’s stock.
Wall Street Analysts Forecast Growth A number of equities analysts have weighed in on the company. The Goldman Sachs Group boosted their target price on Antero Resources from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. UBS Group dropped their price target on shares of Antero Resources from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. Scotiabank started coverage on Antero Resources in a research report on Wednesday. They set a “sector outperform” rating and a $46.00 target price on the stock. Jefferies Financial Group reduced their target price on shares of Antero Resources from $60.00 to $56.00 and set a “buy” rating for the company in a report on Friday, October 2nd. Finally, Benchmark lifted their price target on shares of Antero Resources from $44.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Five investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.11.
Get Our Latest Report on Antero Resources Antero Resources Trading Up 5.8% AR opened at $38.55 on Friday. The firm has a market cap of $11.85 billion, a P/E ratio of 11.08 and a beta of 0.54. Antero Resources Corporation has a 12 month low of $29.10 and a 12 month high of $45.75. The stock has a 50-day moving average of $36.96 and a 200 day moving average of $36.50. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.29.
Antero Resources Company Profile (Free Report)
Antero Resources Corporation (NYSE: AR) is an independent oil and natural gas company engaged in the acquisition, development and production of unconventional resources. The company’s operations are focused primarily on the Appalachian Basin, where it produces natural gas, natural gas liquids (NGLs) and crude oil.
Antero’s asset base is concentrated in the Marcellus and Utica shale formations in West Virginia and Ohio. Its products include pipeline-quality natural gas as well as NGLs such as ethane, propane, butane and natural gasoline.
See Also Five stocks we like better than Antero Resources Rocket Lab’s Neutron Delay Leaves Wall Street Bullish But Raises the Stakes for 2027 ManpowerGroup Stock Sinks on Q3 Results, But Fundamentals Stay Solid Does the AI Selloff Put Alphabet’s Breakout in Doubt? Bank Earnings Are Mixed—These 2 ETFs Offer Very Different Paths to a Recovery Want to see what other hedge funds are holding AR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Antero Resources Corporation (NYSE:AR – Free Report).
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DENVER, Oct. 14, 2026 /PRNewswire/ -- Antero Resources (NYSE: AR) ("Antero" or the "Company") today announced that the Company plans to issue its third quarter 2026 earnings release on Wednesday, October 28, 2026 after the close of trading on the New York Stock Exchange. A conference call is scheduled on Thursday, October 29, 2026 at 9:00 am MT to discuss the financial and operational results.
Perfect Corp. Integrates the Newly Launched “Vidu Q4 Preview” AI Video Model Across All YouCam Apps and YouCam Online Editor, Among the First Worldwide Perfect Corp. (NYSE: PERF), a global leader in augmented reality (AR) and artificial intelligence (AI) beauty and fashion tech, today announced the integration of Vidu Q4 Preview, the latest model in the Vidu AI video generation series, into the Image-to-Video feature of all five YouCam apps and YouCam Online Editor. Vidu Q4 Preview is now available to users of YouCam Perfect, YouCam Makeup, YouCam AI Pro, YouCam Enhance, YouCam Video, and YouCam Online Editor on iOS, Android, and the web, making YouCam one of the first consumer platforms worldwide to offer the new AI model.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261008695498/en/
Perfect Corp. Integrates the Newly Launched “Vidu Q4 Preview” AI Video Model Across All YouCam Platforms.
4K AI Video with 10-Bit Color in Everyday Apps
Vidu Q4 Preview brings major upgrades in visual quality, motion stability, and camera control. It raises maximum output to 4K resolution and adds 10-bit color, which can display more than 1 billion colors compared with about 16.7 million in standard 8-bit video, giving skies, skin tones, and lighting smoother gradients. By placing the AI model inside apps that have been downloaded more than 1.1 billion times, Perfect Corp. gives everyday users access to a level of AI video quality that has mostly been available through professional creative tools and developer platforms. Vidu Q4 Preview joins the AI video models already available in YouCam, part of Perfect Corp.’s multi-model approach of giving users a choice of generative AI models in one app.
“AI video models are improving every few months, and our goal is to put the best of them in our users’ hands as soon as they are ready,” said Alice Chang, Founder & CEO of Perfect Corp. “Most of the moments people care about are already saved as photos. By bringing Vidu Q4 Preview to every YouCam app and to the web within days of its release, we let anyone turn one of those photos into a high-quality AI video in a few taps, without learning a professional video tool.”
Natural-Language Camera Direction and Steadier Motion
Vidu Q4 Preview analyzes the people, lighting, and depth in the uploaded photo, then plans motion and camera movement based on the user’s text prompt. It generates AI videos of 3 to 16 seconds at 24 frames per second and keeps the aspect ratio of the source photo. Compared with earlier versions, it produces more natural light and shadow on skin and fabric, and keeps large movements such as turns, head movements, and chases stable, even with several people in the frame. It also supports smoother push, pan, and tilt camera movement, follows detailed text prompts more closely, so users can direct the camera across multiple shots in natural language, and renders more nuanced facial expressions.
How AI Image-to-Video Works in YouCam
In YouCam, users upload a photo, describe the motion and camera movement they want, and Vidu Q4 Preview generates the AI video. A travel photo can become a clip with waves rolling in and hair moving in the wind, a finished makeup look can turn into a slow camera move ready for social media, and a product photo can become a short promotional video for a small business.
To try Vidu Q4 Preview AI video in YouCam, please visit: https://www.perfectcorp.com/consumer
About Perfect Corp.
Perfect Corp. (NYSE: PERF) is a global leader in AI and AR technology, redefining creativity across beauty, fashion, skincare, and digital content creation. Its YouCam suite of apps has been downloaded over 1.1 billion times globally, empowering users to create, edit, and express themselves through photo, video, and generative AI tools. The YouCam platform also includes a powerful web-based editor and a suite of developer APIs, providing creators, brands, and technology partners with seamless access to content creation capabilities across platforms.
For brands and professionals, Perfect Corp. offers an award-winning portfolio of enterprise technologies, including virtual try-on experiences for makeup, hair, jewelry, watches, and fashion accessories, as well as AI-powered skin and hair analysis.
With a brand portfolio that includes YouCam and Skincare Pro, and a network of over 800 global brand partners, Perfect Corp. is transforming the beauty experience through personalized, immersive, and intelligent innovation.
For more information, visit perfectcorp.com and follow us on LinkedIn at @Perfect-Corp.
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Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
Key Takeaways Natural gas futures gained roughly 9% as a pipeline disruption and tighter storage builds supported prices.Storage rose 53 Bcf, below the five-year average, while the surplus narrowed for a sixth straight week.LNG expands export capacity, AR targets premium markets, while EE advances LNG regasification projects. U.S. natural gas futures ended Sept. 25 on a strong note, settling at about $3.19 per MMBtu, up roughly 9.5% over the prior five sessions despite some late profit-taking. Prices were supported by a pipeline disruption in West Virginia, tighter-than-usual storage additions and firm liquefied natural gas (“LNG”) feedgas demand. The commodity briefly reached a three-month high as supply concerns intensified. Although easing weather demand and still-strong U.S. production limited the rally, the week showed that the market remains sensitive to even short-lived supply disruptions. Overall, natural gas ended the week with a much firmer tone than it began, heading into the final September stretch.
At this stage, investors looking for exposure to the natural gas space may keep Cheniere Energy (LNG - Free Report) , Antero Resources (AR - Free Report) and Excelerate Energy (EE - Free Report) on their watchlists.
Smaller Storage Build Offers SupportThe EIA reported a 53-Bcf injection into U.S. natural gas storage for the week ended Sept. 18, matching analysts’ expectations but falling well below the five-year average build of 76 Bcf and last year’s 77 Bcf increase. Total inventories reached 3,351 Bcf, standing 95 Bcf above the five-year average but 146 Bcf below the year-ago level. Importantly, the storage surplus versus the five-year norm narrowed for a sixth straight week, suggesting that the previously comfortable inventory cushion is gradually tightening.
Strong U.S. production remains a key factor that could prevent prices from rising too quickly. Dry gas output has remained elevated, while adequate inventories and softer LNG demand in parts of Asia continue to provide a balancing force. At the same time, expanding LNG export capacity is gradually increasing feedgas needs, which could strengthen demand over time.
Outlook Remains ConstructiveThe weekly rise offers some encouragement for natural gas-focused investors. Storage remains above the five-year average, and U.S. production is still high, so the market is not short of supply. Even so, the shrinking storage surplus, softer production readings in some regions and LNG feedgas demand provide support. The latest pipeline disruption also showed how quickly prices can respond when supply becomes constrained.
Looking ahead, colder weather and stronger winter demand could improve the setup, especially if storage builds remain below normal and LNG exports stay firm. Risks remain because mild weather, abundant production and weaker overseas demand could cap prices. Still, the market will enter the coming weeks with momentum and a tighter storage cushion than earlier in the refill season.
3 Stocks to Focus OnIn this environment, investors looking to benefit from natural gas trends may want to watch Cheniere Energy, Antero Resources and Excelerate Energy — each carrying Zacks Rank #3 (Hold) — closely. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cheniere Energy: Cheniere Energy is a leading U.S. LNG exporter, with large facilities at Sabine Pass and Corpus Christi. These plants process natural gas into LNG so it can be shipped to customers overseas. Together, they provide more than 55 million tons per year of operating production capacity, while additional capacity is under construction or being developed. This gives Cheniere a large role in connecting U.S. gas supply with global buyers.
The company is still expanding. Corpus Christi Stage 3 is nearing completion, while Sabine Pass Expansion Phase 1 is moving toward a final investment decision. Long-term contracts also provide cash-flow visibility and support the company’s LNG growth plans.
Cheniere Energy beat the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other. It has a trailing four-quarter earnings surprise of roughly 21.7%, on average.
Antero Resources: Antero Resources is an Appalachian natural gas producer with added exposure to natural gas liquids, including propane. Its business combines gas production with firm transportation that can move volumes to stronger markets. About 67% of production is already sold into premium markets, giving Antero access to demand centers stretching from West Virginia to the Gulf Coast.
Future demand is an important part of the story. Antero expects growth from LNG exports, Mexico exports, data centers and power generation through 2030. It is also returning to dry-gas drilling with newer well designs, while lower operating costs and hedging are intended to strengthen margins and reduce swings in cash flow.
The Zacks Consensus Estimate for Antero Resources’ 2026 earnings per share indicates a 154.4% year-over-year surge.
Excelerate Energy: Excelerate Energy helps move LNG into markets that need dependable natural gas supply. Its main assets include floating storage and regasification units, or FSRUs, which receive LNG, turn it back into gas and deliver it to local markets. The company has 12 floating regasification terminals in operation and has handled more than 8,300 Bcf of regasified LNG deliveries worldwide.
Growth is coming from new projects and better use of existing vessels. Excelerate is advancing Iraq’s first LNG import terminal, operating the Excelerate Acadia in Jordan and preparing to redeploy the Express to Colombia. It is also converting an LNG carrier into a Floating Storage and Regasification Unit for expected commercial use in 2028.
The Zacks Consensus Estimate for Excelerate Energy’s 2026 earnings per share indicates 22.7% year-over-year growth. This firm has a trailing four-quarter earnings surprise of roughly 11.8%, on average.
Key Takeaways Antero Resources is positioned to capitalize on rising natural gas demand fueled by data center energy needs.WMB transports roughly 33% of U.S. natural gas production through its extensive pipeline network.KMI carries roughly 40% of natural gas produced in the domestic market through its huge pipeline network. The world is gradually witnessing a widespread adoption of artificial intelligence (AI) across all businesses, which is driving a significant increase in demand for data centers. These data centers house sophisticated servers and supporting infrastructure required by AI to process data and train models. To support this immense computing power and intense workload, data centers are in increasing need of more electricity, which is raising the demand for natural gas.
This is because the electricity generated from natural-gas-fired plants is cleaner. With the rising demand for natural gas, the outlook becomes bright for companies involved in exploring, producing and transporting the commodity from the shale plays to the end market. Three energy players that are well-poised to grow are Antero Resources (AR - Free Report) , Williams (WMB - Free Report) and Kinder Morgan Inc. (KMI - Free Report) .
3 Energy Stocks to Benefit: AR, WMB & KMIAntero Resources is a leading explorer and producer of natural gas in the United States. In the Appalachian Basin, among the prolific plays, the company has a strong footprint, brightening the production outlook. Thus, being a prominent producer in the United States, AR is well-positioned to capitalize on the data center-led mounting energy demand. AR currently carries a Zacks Rank #3 (Hold).
Williams is a midstream energy giant with a huge pipeline network, involved in transporting roughly 33% of the natural gas produced in the domestic market. Thus, the outlook for #3 Ranked WMB also remains bright. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Kinder Morgan is also a midstream energy major. Employing its huge pipeline network, KMI, with a Zacks Rank of 3, is responsible for carrying roughly 40% of the natural gas being produced in the domestic market.
, /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of AI-powered smart glasses, waveguides and Augmented Reality (AR) technologies, today announced that it has entered into a wide-ranging distribution agreement with CommsPlus Distribution ("CommsPlus"), an Australia-based value-added distributor, and has received and shipped against an initial six-figure smart glasses order.
CommsPlus will distribute Vuzix AI-powered smart glasses across Australia, New Zealand and selected Pacific markets, providing value-added distribution, technical enablement and channel development to accelerate enterprise XR adoption.
The partnership will leverage CommsPlus' specialist channel network under a Value-Added Distributor (VAD) model focused on partner recruitment, technical enablement, solution development, proof-of-concept programs and industry-specific market activation.
CommsPlus will recruit software developers, systems integrators and AI solution providers to combine Vuzix smart glasses with industry-specific applications and enterprise workflows. Solutions will leverage AI-powered vision, remote assistance, digital workflows and enterprise integrations to improve frontline productivity using Vuzix M400™ and LX1™ smart glasses.
Initial markets include mining and resources, logistics, healthcare and telehealth, utilities, field services, manufacturing, electrical contracting and other frontline applications. The partnership will also explore government and defense opportunities where hands-free workflows, remote expert guidance and secure wearable computing are gaining momentum.
"This partnership represents an exciting opportunity for CommsPlus to help accelerate enterprise XR adoption throughout Australia, New Zealand and the Pacific. By combining Vuzix' industry-leading smart glasses with AI-driven applications, specialist software partners and our value-added distribution model, we're enabling organizations to improve productivity, worker safety and operational efficiency across frontline industries," said Paul Bailye, Group MD of CommsPlus Distribution.
"We are excited to work with CommsPlus to establish Vuzix as the leading enterprise smart glasses platform across Australia and New Zealand. Their value-added distribution approach, deep enterprise communications expertise and strong reseller network make them an ideal partner to help organizations deploy AI-powered wearable solutions that improve productivity, safety and operational efficiency," said Paul Travers, President and CEO of Vuzix.
About CommsPlus Distribution
CommsPlus Distribution is the distribution partner of choice for leading technology vendors, delivering specialist unified communications, collaboration and emerging technology solutions across Australia, New Zealand and the Pacific. Through its Value-Added Distribution model, CommsPlus combines technical expertise, channel enablement, solution development, marketing support and logistics to help vendors and reseller partners successfully bring innovative enterprise technologies to market.
Supporting a network of specialist reseller partners, CommsPlus works across corporate, government, healthcare, education and industrial markets, providing product planning, technical support and training, pre-sales design, warehousing and supply chain services. For more information, visit the CommsPlus Distribution website.
About Vuzix Corporation
Vuzix is a leading designer, manufacturer and marketer of AI-enabled Smart Glasses for enterprise, as well as waveguides and advanced optical components for OEM and ODMs in the enterprise, medical, defense, security, and consumer markets. Its business is organized around three core areas: Vuzix branded Enterprise Smart Glasses, OEM/ODM customer Smart Glasses and HUD programs, and Waveguide Design and Manufacturing. Vuzix designs and manufactures diffractive waveguides at its Rochester, New York facility using custom-assembled nanoimprint lithography lines and proprietary processes and materials for the volume replication of nanoscale optical structures. This platform supplies waveguides for Vuzix's smart glasses and partner OEM display programs and supports the Company's early-stage development of optical interconnect components for AI data centers.
Founded in 1997, Vuzix holds more than 500 patents and patents pending, along with numerous IP licenses covering optics, head-mounted displays and augmented reality wearables, and has received more than 20 Consumer Electronics Show awards for innovation. The Company is publicly traded on Nasdaq under the symbol VUZI and maintains operations in Rochester, New York, and Kyoto and Okayama, Japan. For more information, visit the Vuzix website, X and Facebook pages.
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements contained in this release relate to Vuzix Smart Glasses, our business relationship, future opportunities and orders with CommsPlus Distribution and its customers, and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.
Vuzix Media and Investor Relations Contact:
Ed McGregor, Director of Investor Relations,
Vuzix Corporation
[email protected]
Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – [email protected] www.vuzix.com
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Corient Private Wealth LP raised its stake in Antero Resources Corporation (NYSE:AR – Free Report) by 105.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,253 shares of the oil and natural gas company’s stock after acquiring an additional 43,246 shares during the period. Corient Private Wealth LP’s holdings in Antero Resources were worth $2,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Antero Resources in the second quarter valued at about $966,982,000. Bank of New York Mellon Corp acquired a new stake in shares of Antero Resources during the second quarter worth about $106,063,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Antero Resources during the second quarter worth about $100,212,000. Palo Duro Investment Partners LP purchased a new position in shares of Antero Resources during the second quarter worth about $95,985,000. Finally, Assenagon Asset Management S.A. increased its position in Antero Resources by 177.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,611,248 shares of the oil and natural gas company’s stock valued at $153,261,000 after acquiring an additional 2,309,388 shares during the period. Hedge funds and other institutional investors own 83.04% of the company’s stock.
Wall Street Analysts Forecast Growth A number of research analysts have recently issued reports on the company. Truist Financial dropped their target price on Antero Resources from $56.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Raymond James Financial increased their price target on Antero Resources from $50.00 to $55.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 1st. Wells Fargo & Company lifted their price objective on shares of Antero Resources from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. The Goldman Sachs Group boosted their price objective on shares of Antero Resources from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Finally, Zacks Research downgraded shares of Antero Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Four equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.06.
Get Our Latest Stock Analysis on Antero Resources Antero Resources Trading Down 2.8% Shares of Antero Resources stock opened at $33.88 on Tuesday. Antero Resources Corporation has a 12-month low of $29.10 and a 12-month high of $45.75. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.29. The stock has a market cap of $10.42 billion, a PE ratio of 9.74 and a beta of 0.35. The company has a 50-day moving average of $36.63 and a two-hundred day moving average of $37.24.
(Free Report)
Antero Resources Corporation (NYSE: AR) is an independent oil and natural gas exploration and production company. Its operations are focused primarily on developing unconventional reserves in the Appalachian Basin, where it produces natural gas, natural gas liquids (NGLs) and oil.
The company’s core properties are located in the Marcellus and Utica shale plays of West Virginia and Ohio. Its products include natural gas and NGLs such as ethane, propane, butane and natural gasoline, which are marketed to customers in domestic and international energy markets.
Founded in 2002 and headquartered in Denver, Colorado, Antero Resources became a publicly traded company in 2013.
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Teradyne, Inc. (NASDAQ: TER), a leading provider of automated test equipment and advanced robotics, today announced Iris 100, a production-ready optical test platform for microLED devices. Teradyne Iris 100 brings semiconductor-grade optical test to microLED manufacturing, measuring every individual emitter in an array and integrating directly with the Teradyne UltraFLEXplus platform for combined optical and electrical test.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260920750507/en/
Teradyne Iris 100 brings semiconductor-grade optical test to microLED manufacturing, measuring every individual emitter in an array and integrating directly with the Teradyne UltraFLEXplus platform for combined optical and electrical test.
MicroLED technology underpins two of the fastest-moving areas in advanced electronics, augmented reality (AR) microdisplays and optical data interconnects for AI data center architectures. Both depend on devices that contain hundreds of thousands to millions of individual emitters, each of which must be characterized with production-level precision and throughput. Bench-top optical instruments can characterize these devices in the lab, but they cannot deliver the throughput and cost-per-unit economics that volume manufacturing requires.
Teradyne Iris 100 was engineered for high-volume precision manufacturing with its spectrometer and high-resolution camera that measure the spectral response of the array, and per-pixel luminance and uniformity. Advanced test parallelization and image-processing algorithms enable characterization of a full array containing millions of microLEDs with high throughput. Leveraging Teradyne’s widely adopted IG-XL software, Iris 100 detects optical defects such as dead/stuck pixels and cluster defects early in the manufacturing process. Its NIST-traceable calibration workflow enables absolute measurements that correlate lots, wafers, and manufacturing sites.
"MicroLED is shifting from lab to volume production for both AR microdisplays and, increasingly, optical interconnects, which are becoming foundational to how AI data centers scale beyond copper," said Shannon Poulin, president of the Semiconductor Test division at Teradyne. "Both technologies demand per-emitter test at production throughput, and Iris 100 delivers that today on test infrastructure our customers already run at scale."
Teradyne Iris 100 follows the introduction of Teradyne Photon 100 for silicon photonics and co-packaged optics test earlier this year and the acquisition of photonic test specialist Quantifi Photonics in 2025, extending Teradyne’s test capabilities across the full spectrum of emerging optical test requirements. Iris 100 supports wafer and final test, letting manufacturers add microLED test to fleets they already run, with a roadmap to support photodetector test capabilities in the same insertion.
For more information, find Teradyne at ECOC, stand 2118, September 21-23 in Malaga, Spain, and visit teradyne.com/products/iris-100.
About Teradyne
Teradyne (NASDAQ: TER) designs, develops, and manufactures automated test equipment and advanced robotics systems. Its semiconductor and electronics test solutions span the full AI device supply chain, from wafer to data center, enabling customers to meet the quality and reliability standards the AI era demands. Its advanced robotics business deploys intelligent automation across manufacturing, logistics, and data center operations for customers worldwide. For more information, visit teradyne.com. Teradyne® is a registered trademark of Teradyne, Inc., in the U.S. and other countries.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260920750507/en/
Analyst’s Disclosure: I/we have a beneficial long position in the shares of AR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Snap Inc. (NYSE: SNAP) today introduced SPECS Intelligence, a new anticipatory AI service designed to work across iPhone, Mac, and SPECS augmented reality (AR) glasses, helping you manage what needs attention today while making progress towards your longer-term goals.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260916422165/en/
SPECS Intelligence, an Anticipatory AI Service
SPECS Intelligence builds an understanding of your goals, priorities, relationships, and routines from the apps and tools you choose to connect. The service is designed to carry that personal context across devices and deepens its understanding over time, helping you move between work, personal responsibilities, and the things you care about.
“Computers should fit into our lives, not the other way around,” said Evan Spiegel, co-founder and CEO of Snap Inc. “SPECS Intelligence is designed to help you spend less time managing your life and more time living it.”
SPECS Intelligence is designed to anticipate when help would be useful and surface relevant information and actions without waiting for a prompt. Before a meeting, it could highlight decisions to make, questions to ask, and things to remember. For an upcoming trip, it could bring together flight, hotel, and dinner plans while flagging a work deadline that falls during the visit.
The broader experience also includes Corners, which organize areas of your life such as work and family, and Goals, which help you set and track what you want to achieve. Together, these experiences are designed to connect everyday tasks with the broader priorities that matter to you.
While you do not need SPECS AR glasses to use SPECS Intelligence, with SPECS your personal context extends into the physical world by bringing relevant information directly into view. For example, when you're traveling, say “Hey SPECS,” to see relevant flight details, hotel information, reservations, and reminders in your field of view. Or before going to work, ask SPECS about your day to get a full daily briefing that gives you a schedule overview and provides meeting prep where possible.
Privacy and SPECS Intelligence
You choose what you connect and what information SPECS Intelligence can use. SPECS Intelligence is designed so Snap personnel cannot view or access the personal content you use with the service. Personal content from connected accounts will not be used to train or fine-tune Snap’s AI models, or to serve personalized ads.
SPECS Intelligence uses on-device processing and secure cloud infrastructure, with security protections wherever data is processed.
For more information about how privacy is built into SPECS, visit specs.com/privacy.
Early Access and Preview
You can join the waitlist for early access at specs.com/intelligence or within the SPECS app. The full early-access experience will be offered exclusively through the SPECS Mac app, by invitation only. As access rolls out, selected users will receive an email invitation to sign in on Mac and connect their everyday apps.
Starting today, anyone 18+ in the U.S. can download the SPECS app for iOS and try the SPECS Intelligence preview with no invitation required. By connecting your Google account, you will be able to discover insights about where you spend your time and attention, based on Gmail and Google Calendar. The mobile preview focuses on these personal insights; it does not include the broader service’s anticipatory suggestions or actions. For a video overview, click here.
About Snap Inc.
Snap Inc. is a technology company. We believe the camera presents the greatest opportunity to improve the way people live and communicate. Snap contributes to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together. Snap Inc. operates Snapchat, a visual messaging app that enhances your relationships with friends, family, and the world, and Specs Inc., a wholly-owned subsidiary dedicated to making computing more human, in addition to Bitmoji, Saturn, and other digital services. For more information, visit snap.com.
About Specs Inc.
Specs Inc. is a wholly-owned subsidiary of Snap Inc. dedicated to making computing more human. The company develops SPECS AR glasses, advanced eyewear that seamlessly integrates digital experiences into the physical world, and SPECS Intelligence, an anticipatory AI service.
SPECS AR glasses feature see-through lenses that place digital objects directly into three-dimensional space, powered by SPECS OS, a proprietary, context-aware operating system designed for natural interaction with your hands and voice.
Specs Inc. also provides Lens Studio, a full suite of advanced developer tools that powers immersive augmented reality experiences across SPECS, Snapchat, and other services.
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Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
Snap Inc. (NYSE: SNAP) today announced new experiences, services and partnerships for SPECS, a new kind of computer built into a pair of augmented reality (AR) glasses. These innovations and partnerships advance Snap’s vision to make computing more human, and include new AR experiences; SPECS Intelligence, a new anticipatory AI service; consumer and enterprise partnerships; and a new SPECS Charging Case with Cellular. Beginning October 1, consumers can try SPECS AR glasses in-person at SPECS First Look at Westfield Century City in Los Angeles.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260916827043/en/
Augmented reality experience as seen on SPECS
SPECS are built around how you interact with the world, and the AI-native operating system is designed to help you get things done through natural interactions using your hands and voice. SPECS feature computing hardware built directly into the glasses without a puck or tether. They bring AI assistance and useful digital information into your field of view, enabling you to communicate, work, shop, watch content, learn and navigate while remaining engaged with the world around you.
“SPECS are built from the ground up to make computing more human,” said Evan Spiegel, co-founder and CEO, Snap Inc. “They’re incredibly easy to use and bring new experiences into the world that you can share together with friends and family. I’m so excited about the new ways SPECS can help you get things done, with your head up and your hands free.”
SPECS Intelligence
Today, Snap introduced SPECS Intelligence, a new anticipatory AI service from Snap designed to work across iPhone, Mac, and SPECS AR glasses. It builds an understanding of your goals, priorities, relationships, and routines from the apps and tools you choose to connect, helping you focus on what matters now while making progress towards your longer-term goals.
Rather than waiting for a prompt, SPECS Intelligence is designed to anticipate when help would be useful and surface relevant information and actions at the right moment. On SPECS AR glasses, it is designed to extend that personal context into the physical world by bringing relevant information directly into view.
Starting today in the U.S., anyone 18+ can download the SPECS app for iOS and try the SPECS Intelligence preview. You can also join the waitlist at specs.com/intelligence or directly within the SPECS app for invitation-only early access to the fuller SPECS Intelligence experience on Mac.
Additional details about SPECS Intelligence are available here.
Learn, Play and Watch
SPECS AR glasses offer new ways to watch, play, and explore. The SPECS browser enables streaming from YouTube, HBO Max, and more on a virtual display that feels like a 115-inch cinema screen placed about 10 feet away. With Spotify, SPECS provide the right soundtrack for whatever you're doing in the moment. In partnership with HBO Max, Snap is also bringing the world of Harry Potter to SPECS in celebration of the new HBO Original Series, Harry Potter and the Philosopher's Stone, premiering this Christmas.
Together with the NBA and WNBA, Snap is building interactive basketball experiences that can layer visual guidance, drills, and progress cues directly onto the world to help fans practice in a whole new way. Additional sports experiences include soccer and golf training Lenses designed to help users improve their skills. Coming next year, ALO Wellness Club will bring movement, recovery and mindfulness to SPECS through guided experiences designed to extend the practice beyond the mat.
Educational experiences include Apollo 11, an interactive recreation of the historic moon mission, and Starmap, which overlays constellations onto your surroundings. AI on SPECS AR glasses can also bring contextual information into your view or teach you about your surroundings.
Connect and Share
Connected Lenses allow two SPECS wearers to share digital experiences in the same physical space. Initial Connected Lens experiences include Dominoes with Jimmy Butler, Chess and Table Tennis.
When paired with a phone through Bluetooth, SPECS AR glasses can take calls, display notifications, and play music. Snapchat has also been redesigned for SPECS, allowing you to take a Snap by snapping your fingers, or start a hands-free video call so friends can see what you see.
Privacy is built into the design of SPECS AR glasses. SPECS do not use facial recognition to identify people. SPECS do not record the world to understand it, and don't continuously record or save audio, video, or photos. When a wearer takes a photo or records video or audio, a prominent external LED in the center of the frames lights up or flashes to let people nearby see that recording is happening.
For more information about how privacy is built into SPECS, visit specs.com/privacy.
New Experiences for Daily Use
SPECS include a wide range of AR experiences designed for use throughout the day.
With Translation, SPECS can translate someone speaking a foreign language in real-time and display subtitles in your field of view, with support for 60 different languages. While walking, navigation lets you input a destination or tell SPECS where you want to go for directions overlaid on the world with optional voice guidance. And Tripadvisor for SPECS can help you find nearby restaurants, landmarks, and experiences, get recommendations in the moment, translate reviews and local phrases, and convert currency.
SPECS AR glasses make online shopping more immersive and practical. Powered by the Shopify Catalog, you can browse products in 3D and place them at full scale in the room around you to see how a potential purchase would fit in your home.
SPECS can also transform almost any location into an immersive, flexible workspace. SPECS can connect to your computer wirelessly, expanding your workstation beyond the boundaries of a traditional desktop. Whiteboard makes it easy to brainstorm, organize workflows, create diagrams, and more from wherever you are. And SPECS support bluetooth peripherals like keyboards, making it easy to edit documents on-the-go from anywhere.
These experiences are just the beginning, with many more available on SPECS and hundreds of developers around the world creating new AR experiences we never could have imagined on our own.
SPECS for Enterprise
Snap is working with Salesforce, Amazon Web Services (AWS), NVIDIA, Trifork, Hololight, and more to bring SPECS into workplace environments. Together with these partners, Snap is enabling hands-free access to information, guidance and collaboration across retail floors, factories and field operations, while also building the management and security capabilities enterprises need to deploy SPECS AR glasses at scale.
More information about SPECS enterprise offerings is available at newsroom.snap.com/specs-for-enterprise.
New Charging Case with Cellular Connectivity
To help SPECS AR glasses stay powered and connected even when you're away from Wi-Fi, Snap introduced a new SPECS Charging Case with Cellular. Sold separately, it provides four additional charges and offers cellular connectivity through participating wireless carriers.
In the United States, Snap is partnering with Verizon to offer custom data plans, flexible financing, digital setup and hands-on experiences at select Verizon stores. The SPECS Connected Case bundle will be available for $2,395. Verizon will offer eligible customers financing options, including a 36 month payment plan. Connected Wearable data plans are available from $10/month for Verizon customers and from $20/month for non-Verizon customers.
Snap is also partnering with global carriers, including Orange in France, and EE in the UK. Data plans will be available through the respective carrier partners, with pricing details to come.
Pricing and Availability
SPECS AR glasses are available to pre-order for $2,195 with a $200 refundable deposit at SPECS.com. Shipping is expected to begin later this fall in the United States, United Kingdom and France.
Beginning October 1, consumers can visit SPECS First Look at Westfield Century City in Los Angeles for hands-on demos and to meet members of the SPECS team. The location will feature new experiences throughout the holiday season.
About Snap Inc.
Snap Inc. is a technology company. We believe the camera presents the greatest opportunity to improve the way people live and communicate. Snap contributes to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together. Snap Inc. operates Snapchat, a visual messaging app that enhances your relationships with friends, family, and the world, and Specs Inc., a wholly-owned subsidiary dedicated to making computing more human, in addition to Bitmoji, Saturn, and other digital services. For more information, visit snap.com.
About Specs Inc.
Specs Inc. is a wholly-owned subsidiary of Snap Inc. dedicated to making computing more human. The company develops SPECS AR glasses, advanced eyewear that seamlessly integrates digital experiences into the physical world, and SPECS Intelligence, an anticipatory AI service.
SPECS AR glasses feature see-through lenses that place digital objects directly into three-dimensional space, powered by SPECS OS, a proprietary, context-aware operating system designed for natural interaction with your hands and voice.
Specs Inc. also provides Lens Studio, a full suite of advanced developer tools that powers immersive augmented reality experiences across SPECS, Snapchat, and other services.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260916827043/en/
Key Takeaways Natural gas fell 4.8% for the week as cooler weather, ample inventories and rising production weighed.LNG feedgas held at 19.6 Bcf per day, while U.S. LNG exports are projected to rise through 2027.Cheniere Energy, Antero Resources and Excelerate Energy offer exposure to strong commodity demand. U.S. natural gas futures finished the week in the red as cooler weather reduced expectations for power-sector demand heading into the fall shoulder season. Ample inventories and rising production also weighed on prices. Still, strong demand from liquefied natural gas (“LNG”) export facilities provided support, while tighter global gas supplies could keep U.S. LNG demand firm.
Against this backdrop, investors may want to keep an eye on natural gas-focused names such as Cheniere Energy (LNG - Free Report) , Antero Resources (AR - Free Report) and Excelerate Energy (EE - Free Report) .
Natural Gas Loses Ground During the WeekNatural gas prices moved lower through most of the holiday-shortened week as traders focused on fading summer cooling demand. October futures began the week with a 2% drop to $2.916 per million British thermal units (MMBtu), followed by another 3.2% decline as cooler weather forecasts pressured demand expectations. Prices recovered slightly after the storage report, settling 0.4% higher at $2.834 on Thursday. That rebound proved brief. Futures slipped again on Friday as the market looked toward weaker seasonal demand and potentially larger storage additions. The front-month contract settled at $2.831 per MMBtu, leaving natural gas down 4.8% for the week.
Storage Build Tops ExpectationsThe Energy Information Administration (‘EIA’) reported a 40-billion-cubic-feet (Bcf) storage injection for the week ended Sept. 4, above analysts’ guidance. However, the build remained below the five-year average of 52 Bcf. Total working gas reached 3,254 Bcf, 148 Bcf above the five-year average but 79 Bcf below the year-ago level.
LNG Demand Keeps the Outlook ConstructiveNear-term conditions remain challenging as cooling demand fades and the market moves deeper into the shoulder season. U.S. natural gas consumption fell during the latest reported week, mainly because of lower power burn, while dry gas production edged higher. These factors could lead to larger storage injections before heating demand begins to pick up in October.
Still, the longer-term demand picture gives natural gas investors some reason for optimism. LNG feedgas held at 19.6 Bcf per day, while the EIA expects average U.S. LNG exports to rise from 17.4 Bcf per day in 2026 to 18.6 Bcf per day in 2027. Tight European supplies could add another source of demand as winter approaches. Europe’s storage levels are unusually low, while disruptions to Middle Eastern LNG shipments have tightened the global market. These conditions could support demand for U.S. gas even if domestic inventories remain comfortable.
3 Stocks to Focus OnFor investors willing to look beyond near-term weather pressure, Cheniere Energy, Antero Resources and Excelerate Energy — each carrying Zacks Rank #3 (Hold) — remain stocks worth watching. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cheniere Energy: Cheniere Energy is a leading U.S. LNG exporter, with large facilities at Sabine Pass and Corpus Christi. These plants process natural gas into LNG so it can be shipped to customers overseas. Together, they provide more than 55 million tons per year of operating production capacity, while additional capacity is under construction or being developed. This gives Cheniere a large role in connecting U.S. gas supply with global buyers.
The company is still expanding. Corpus Christi Stage 3 is nearing completion, while Sabine Pass Expansion Phase 1 is moving toward a final investment decision. Long-term contracts also provide cash-flow visibility and support the company’s LNG growth plans.
Cheniere Energy beat the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other. It has a trailing four-quarter earnings surprise of roughly 21.7%, on average.
Antero Resources: Antero Resources is an Appalachian natural gas producer with added exposure to natural gas liquids, including propane. Its business combines gas production with firm transportation that can move volumes to stronger markets. About 67% of production is already sold into premium markets, giving Antero access to demand centers stretching from West Virginia to the Gulf Coast.
Future demand is an important part of the story. Antero expects growth from LNG exports, Mexico exports, data centers and power generation through 2030. It is also returning to dry-gas drilling with newer well designs, while lower operating costs and hedging are intended to strengthen margins and reduce swings in cash flow.
The Zacks Consensus Estimate for Antero Resources’ 2026 earnings per share indicates a 156.1% year-over-year surge.
Excelerate Energy: Excelerate Energy helps move LNG into markets that need dependable natural gas supply. Its main assets include floating storage and regasification units, or FSRUs, which receive LNG, turn it back into gas and deliver it to local markets. The company has 12 floating regasification terminals in operation and has handled more than 8,300 Bcf of regasified LNG deliveries worldwide.
Growth is coming from new projects and better use of existing vessels. Excelerate is advancing Iraq’s first LNG import terminal, operating the Excelerate Acadia in Jordan and preparing to redeploy the Express to Colombia. It is also converting an LNG carrier into a Floating Storage and Regasification Unit for expected commercial use in 2028.
The Zacks Consensus Estimate for Excelerate Energy’s 2026 earnings per share indicates 22.7% year-over-year growth. This firm has a trailing four-quarter earnings surprise of roughly 11.8%, on average.
Antero Resources (AR) stands to benefit from rising natural gas demand despite typical El Nino-driven weakness. Iranian supply disruptions, data center demand growth, and expanding North American export capacity create bullish catalysts for AR this winter. AR's proximity to Greater Philadelphia export facilities near the Marcellus basin offers a critical transportation and cost advantage.
Bank of New York Mellon Corp purchased a new stake in Antero Resources Corporation (NYSE:AR – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,018,296 shares of the oil and natural gas company’s stock, valued at approximately $106,063,000. Bank of New York Mellon Corp owned 0.98% of Antero Resources as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of AR. Eastern Bank acquired a new position in shares of Antero Resources in the second quarter valued at approximately $26,000. Sunbelt Securities Inc. acquired a new position in Antero Resources in the 3rd quarter valued at $30,000. IFP Advisors Inc raised its position in Antero Resources by 59.2% during the 3rd quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 345 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Antero Resources in the 4th quarter worth $41,000. Finally, McIlrath & Eck LLC purchased a new stake in shares of Antero Resources in the first quarter valued at about $53,000. 83.04% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes A number of research analysts have recently issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $57.00 price target on shares of Antero Resources in a research note on Friday, May 1st. Zacks Research lowered Antero Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. The Goldman Sachs Group cut their target price on Antero Resources from $46.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Texas Capital upgraded Antero Resources to a “strong-buy” rating in a research report on Thursday, June 25th. Finally, UBS Group raised their target price on Antero Resources from $50.00 to $52.00 and gave the company a “buy” rating in a report on Friday, July 31st. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Antero Resources currently has an average rating of “Moderate Buy” and an average target price of $48.31.
Check Out Our Latest Research Report on Antero Resources Antero Resources Stock Performance Shares of AR stock opened at $37.89 on Tuesday. The stock has a fifty day moving average price of $35.15 and a 200 day moving average price of $36.76. The stock has a market cap of $11.65 billion, a PE ratio of 10.89 and a beta of 0.34. Antero Resources Corporation has a 1 year low of $29.10 and a 1 year high of $45.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.40 and a current ratio of 0.40.
Antero Resources Profile (Free Report)
Antero Resources Corporation is an independent exploration and production company focused on the development of natural gas, natural gas liquids (NGLs) and oil properties in the Appalachian Basin of the United States. The company’s operations target the Marcellus and Utica shales, where it applies advanced drilling and completion techniques to optimize recovery from its large acreage position. Antero’s portfolio encompasses significant reserves of ethane, propane and other NGLs, alongside dry gas volumes that are positioned to serve both domestic and export markets.
Headquartered in Denver, Colorado, Antero Resources holds approximately 1.8 million net acres of leasehold interests across parts of West Virginia and Ohio.
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A month has gone by since the last earnings report for Antero Resources (AR - Free Report) . Shares have added about 9.1% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Antero Resources due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent drivers for Antero Resources Corporation before we dive into how investors and analysts have reacted as of late.
AR Q2 Earnings Beat Estimates on Record Production GainsAntero Resources Corporation reported second-quarter 2026 adjusted earnings of 76 cents per share, beating the Zacks Consensus Estimate of 75 cents. Revenues of $1.6 billion beat the consensus estimate of $1.5 billion by 4.4% and increased from $1.3 billion in the year-ago quarter.
The strong quarterly performance was supported by record production, lower cash costs and benefits from the HG Energy acquisition. Net production averaged 4.1 Bcfe/d, up 21% year over year, while adjusted EBITDAX rose 57% to $595 million.
AR Production Growth Supports ResultsAntero Resources delivered record production in the second quarter, with average net output reaching 4.1 Bcfe/d, including 216 MBbl/d of liquids. The figure is in line with our estimate of 4.1 Bcfe/d.
Natural gas production averaged 2,847 MMcf/d, while C3+ NGL production averaged 121,132 Bbl/d and C2 NGL production averaged 86,769 Bbl/d.
The company placed 26 Marcellus wells to sales during the quarter with an average lateral length of 13,323 feet. The 21 wells that had been online for about 60 days averaged 25 MMcfe/d per well, including 975 Bbl/d of liquids per well assuming 25% ethane recovery.
Antero Resources Benefits From HG EnergyAR saw year-over-year revenue growth from stronger production volumes and contributions from the HG Energy assets.Total revenues increased to $1.6 billion from $1.3 billion in the prior-year quarter, helped by higher natural gas liquids sales, oil sales and commodity derivative gains.
The company’s revenues included $688.5 million from natural gas sales, $587.7 million from natural gas liquids sales and $59.6 million from oil sales. The figures are slightly below our estimates of $705.6 million from natural gas sales, $653.4 million from natural gas liquids sales and $63.1 million, respectively. Commodity derivative fair value gains increased to $160.6 million from $53.4 million a year ago.
AR Improves Cost Structure & MarginsAntero Resources reported total cash operating costs of $2.38 per Mcfe in the quarter, down $0.29 per Mcfe, or 11%, from the prior-year period. Cash production expenses were $2.22 per Mcfe compared with $2.48 per Mcfe in the second quarter of 2025. The figure is marginally above our estimate of $2.21 per Mcfe
Operating expenses rose to $1.18 billion from $1.09 billion a year ago, reflecting higher gathering, compression, processing and transportation costs, as well as increased depletion, depreciation and amortization. The figure is also above our estimate of $1.14 billion.
Operating income, however, improved to $375.5 million from $204.9 million. The metric also beat our estimate of $323.3 million.
Antero Resources Expands Development PositionAR completed strategic acquisitions in July for approximately $315 million within its West Virginia development footprint. The properties add about 125 MMcfe/d of net production, 3,500 net undeveloped acres and 15 net undeveloped locations.
The company also continued investing in its resource base during the quarter. Drilling and completion capital expenditure totaled $297 million, while land investment reached $29 million, adding approximately 5,000 net acres and 20 incremental net drilling locations.
AR Updates 2026 Outlook & Cash FlowAntero Resources raised its 2026 production guidance to 4.15-4.2 Bcfe/d, citing strong year-to-date performance and the July acquisitions. Third-quarter production is expected to average 4.25-4.3 Bcfe/d, with fourth-quarter production forecast at 4.4-4.5 Bcfe/d.
The company lowered cash production expense guidance to $2.20-$2.30 per Mcfe and adjusted its expected natural gas realized price premium to NYMEX Henry Hub to 5-15 cents per Mcf. C2 NGL realized price premium guidance was increased to $2.50-$3 per barrel.
Antero Resources Strengthens Financial FlexibilityAR generated $438.8 million in net cash from operating activities during the second quarter. The adjusted free cash flow before changes in working capital was $219.8 million compared with $156.3 million in the year-ago period.
The company also continued its capital return program, repurchasing 1.1 million shares for approximately $38 million during the quarter at an average weighted price of $34.25 per share. As of the earnings release, Antero Resources had approximately $880 million of remaining capacity under its share repurchase program.
Antero Resources’ balance sheet reflected total debt of $2.6 billion as of June 30, 2026, including $1.1 billion outstanding under its term loan and $600 million of senior notes due 2030.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in fresh estimates.
The consensus estimate has shifted 18.11% due to these changes.
VGM ScoresAt this time, Antero Resources has a nice Growth Score of B, though it is lagging a bit on the Momentum Score front with a C. Charting a somewhat similar path, the stock has a score of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Antero Resources has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerAntero Resources is part of the Zacks Oil and Gas - Exploration and Production - United States industry. Over the past month, Range Resources (RRC - Free Report) , a stock from the same industry, has gained 5.3%. The company reported its results for the quarter ended June 2026 more than a month ago.
Range Resources reported revenues of $795.3 million in the last reported quarter, representing a year-over-year change of +8.5%. EPS of $0.79 for the same period compares with $0.66 a year ago.
Range Resources is expected to post earnings of $0.67 per share for the current quarter, representing a year-over-year change of +17.5%. Over the last 30 days, the Zacks Consensus Estimate has changed +5.6%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Range Resources. Also, the stock has a VGM Score of B.
Focus Partners Advisor Solutions LLC bought a new position in shares of Antero Resources Corporation (NYSE:AR – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 34,921 shares of the oil and natural gas company’s stock, valued at approximately $1,227,000.
A number of other institutional investors have also added to or reduced their stakes in AR. NewEdge Advisors LLC lifted its position in shares of Antero Resources by 16,498.3% in the 1st quarter. NewEdge Advisors LLC now owns 9,627 shares of the oil and natural gas company’s stock worth $389,000 after acquiring an additional 9,569 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Antero Resources by 7.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 590,555 shares of the oil and natural gas company’s stock valued at $23,882,000 after purchasing an additional 43,312 shares during the period. Focus Partners Wealth increased its position in shares of Antero Resources by 18.9% during the first quarter. Focus Partners Wealth now owns 19,921 shares of the oil and natural gas company’s stock valued at $806,000 after purchasing an additional 3,169 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Antero Resources by 701.3% in the second quarter. EverSource Wealth Advisors LLC now owns 2,989 shares of the oil and natural gas company’s stock valued at $120,000 after purchasing an additional 2,616 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Antero Resources by 22.5% in the second quarter. Daiwa Securities Group Inc. now owns 36,500 shares of the oil and natural gas company’s stock valued at $1,470,000 after purchasing an additional 6,700 shares in the last quarter. 83.04% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets A number of equities research analysts have weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $57.00 price target on shares of Antero Resources in a research note on Friday, May 1st. Citigroup decreased their target price on shares of Antero Resources from $53.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Barclays increased their price target on shares of Antero Resources from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Antero Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Finally, UBS Group lifted their price objective on Antero Resources from $50.00 to $52.00 and gave the company a “buy” rating in a report on Friday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.31.
Get Our Latest Research Report on AR
Antero Resources Stock Up 0.1% Shares of NYSE AR opened at $37.42 on Monday. The stock has a market cap of $11.50 billion, a PE ratio of 10.75 and a beta of 0.34. The business has a fifty day moving average of $34.85 and a two-hundred day moving average of $36.65. Antero Resources Corporation has a 52-week low of $29.10 and a 52-week high of $45.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.40 and a current ratio of 0.40.
Trending Headlines about Antero Resources Here are the key news stories impacting Antero Resources this week:
Positive Sentiment: Zacks Research raised several earnings forecasts. Estimates increased for Q3 2026 EPS to $1.01 from $0.89, Q4 2026 EPS to $1.04 from $0.97, FY2026 EPS to $3.89 from $3.71, FY2027 EPS to $3.59 from $3.53, and FY2028 EPS to $4.27 from $4.07. The revisions indicate improved expectations for Antero Resources’ longer-term earnings performance. Positive Sentiment: Zacks also lifted its Q1 2027 EPS estimate to $1.06 from $0.97, Q3 2027 EPS to $0.81 from $0.77, and Q1 2028 EPS to $1.13 from $0.83. These upgrades provide additional support for the stock’s recent strength. Positive Sentiment: Siebert Williams Shank reaffirmed its Buy rating on AR, reinforcing a positive Wall Street view of the oil and natural gas producer. Siebert Williams Shank & Co Reaffirms Their Buy Rating on Antero Resources Positive Sentiment: Benchmark projected strong price appreciation for Antero Resources, adding to the bullish sentiment surrounding the shares. Benchmark Forecasts Strong Price Appreciation for Antero Resources Neutral Sentiment: Despite the upgrades, Zacks Research maintained a Hold rating. Its current full-year earnings consensus is $3.94 per share, above the revised FY2026 estimate but below the FY2028 forecast, leaving valuation and commodity-price risks as important considerations. Negative Sentiment: Zacks reduced its Q4 2027 EPS estimate to $1.01 from $1.06 and Q2 2028 EPS to $1.05 from $1.08. These cuts temper the otherwise favorable earnings-revision trend. Antero Resources Company Profile (Free Report)
Antero Resources Corporation is an independent exploration and production company focused on the development of natural gas, natural gas liquids (NGLs) and oil properties in the Appalachian Basin of the United States. The company’s operations target the Marcellus and Utica shales, where it applies advanced drilling and completion techniques to optimize recovery from its large acreage position. Antero’s portfolio encompasses significant reserves of ethane, propane and other NGLs, alongside dry gas volumes that are positioned to serve both domestic and export markets.
Headquartered in Denver, Colorado, Antero Resources holds approximately 1.8 million net acres of leasehold interests across parts of West Virginia and Ohio.
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Fielder Capital Group LLC bought a new position in Antero Resources Corporation (NYSE:AR – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 131,863 shares of the oil and natural gas company’s stock, valued at approximately $4,634,000. Antero Resources comprises about 1.0% of Fielder Capital Group LLC’s investment portfolio, making the stock its 28th biggest position.
Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in Antero Resources by 12.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,239,070 shares of the oil and natural gas company’s stock worth $434,597,000 after buying an additional 1,153,422 shares during the period. State Street Corp raised its holdings in shares of Antero Resources by 1.2% during the third quarter. State Street Corp now owns 10,171,885 shares of the oil and natural gas company’s stock valued at $341,368,000 after acquiring an additional 116,461 shares in the last quarter. Sourcerock Group LLC lifted its stake in Antero Resources by 10.6% in the second quarter. Sourcerock Group LLC now owns 8,156,134 shares of the oil and natural gas company’s stock worth $328,529,000 after acquiring an additional 783,117 shares during the period. Invesco Ltd. lifted its stake in Antero Resources by 18.0% in the fourth quarter. Invesco Ltd. now owns 4,999,747 shares of the oil and natural gas company’s stock worth $172,291,000 after acquiring an additional 761,842 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Antero Resources by 35.4% in the fourth quarter. AQR Capital Management LLC now owns 4,694,364 shares of the oil and natural gas company’s stock valued at $161,768,000 after acquiring an additional 1,226,828 shares in the last quarter. Hedge funds and other institutional investors own 83.04% of the company’s stock.
Antero Resources Stock Up 0.1% AR stock opened at $37.42 on Monday. The business has a 50 day moving average of $34.85 and a 200 day moving average of $36.65. The firm has a market cap of $11.50 billion, a PE ratio of 10.75 and a beta of 0.34. Antero Resources Corporation has a twelve month low of $29.10 and a twelve month high of $45.75. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.29.
Antero Resources News Roundup Here are the key news stories impacting Antero Resources this week:
Positive Sentiment: Zacks Research raised several earnings forecasts. Estimates increased for Q3 2026 EPS to $1.01 from $0.89, Q4 2026 EPS to $1.04 from $0.97, FY2026 EPS to $3.89 from $3.71, FY2027 EPS to $3.59 from $3.53, and FY2028 EPS to $4.27 from $4.07. The revisions indicate improved expectations for Antero Resources’ longer-term earnings performance. Positive Sentiment: Zacks also lifted its Q1 2027 EPS estimate to $1.06 from $0.97, Q3 2027 EPS to $0.81 from $0.77, and Q1 2028 EPS to $1.13 from $0.83. These upgrades provide additional support for the stock’s recent strength. Positive Sentiment: Siebert Williams Shank reaffirmed its Buy rating on AR, reinforcing a positive Wall Street view of the oil and natural gas producer. Siebert Williams Shank & Co Reaffirms Their Buy Rating on Antero Resources Positive Sentiment: Benchmark projected strong price appreciation for Antero Resources, adding to the bullish sentiment surrounding the shares. Benchmark Forecasts Strong Price Appreciation for Antero Resources Neutral Sentiment: Despite the upgrades, Zacks Research maintained a Hold rating. Its current full-year earnings consensus is $3.94 per share, above the revised FY2026 estimate but below the FY2028 forecast, leaving valuation and commodity-price risks as important considerations. Negative Sentiment: Zacks reduced its Q4 2027 EPS estimate to $1.01 from $1.06 and Q2 2028 EPS to $1.05 from $1.08. These cuts temper the otherwise favorable earnings-revision trend. Wall Street Analysts Forecast Growth AR has been the topic of a number of research analyst reports. Roth Capital reissued a “neutral” rating and set a $38.00 price objective on shares of Antero Resources in a research report on Thursday, April 30th. Williams Trading set a $56.00 target price on shares of Antero Resources in a research report on Monday, April 20th. Wells Fargo & Company lifted their target price on shares of Antero Resources from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Jefferies Financial Group reiterated a “buy” rating and set a $57.00 price target on shares of Antero Resources in a research report on Friday, May 1st. Finally, Wolfe Research reissued an “outperform” rating and issued a $48.00 price target on shares of Antero Resources in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Antero Resources has a consensus rating of “Moderate Buy” and an average target price of $48.31.
Get Our Latest Report on Antero Resources
Antero Resources Company Profile (Free Report)
Antero Resources Corporation is an independent exploration and production company focused on the development of natural gas, natural gas liquids (NGLs) and oil properties in the Appalachian Basin of the United States. The company’s operations target the Marcellus and Utica shales, where it applies advanced drilling and completion techniques to optimize recovery from its large acreage position. Antero’s portfolio encompasses significant reserves of ethane, propane and other NGLs, alongside dry gas volumes that are positioned to serve both domestic and export markets.
Headquartered in Denver, Colorado, Antero Resources holds approximately 1.8 million net acres of leasehold interests across parts of West Virginia and Ohio.
See Also Five stocks we like better than Antero Resources The Metals Company’s Big Bet Now Comes Down to a License OneSpaWorld Keeps Turning Cruise Demand Into Record Earnings Meta and Tesla Are Rebounding From Oversold Levels—Now What? AMG’s Alternatives Boom Powers Record Growth Want to see what other hedge funds are holding AR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Antero Resources Corporation (NYSE:AR – Free Report).
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BIP Wealth LLC acquired a new position in shares of Antero Resources Corporation (NYSE: AR) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 46,483 shares of the oil and natural gas company's stock, valued at approximately $1,633,000. A number of other large investors
Bank of America Corp DE increased its stake in Antero Resources Corporation (NYSE:AR – Free Report) by 31.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,002,942 shares of the oil and natural gas company’s stock after buying an additional 239,291 shares during the period. Bank of America Corp DE owned about 0.32% of Antero Resources worth $42,565,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in shares of Antero Resources by 177.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,611,248 shares of the oil and natural gas company’s stock worth $153,261,000 after purchasing an additional 2,309,388 shares during the last quarter. AQR Capital Management LLC increased its holdings in Antero Resources by 140.2% in the third quarter. AQR Capital Management LLC now owns 3,467,536 shares of the oil and natural gas company’s stock valued at $116,371,000 after buying an additional 2,023,828 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Antero Resources in the fourth quarter valued at about $58,831,000. Aventail Capital Group LP raised its stake in Antero Resources by 553.6% during the fourth quarter. Aventail Capital Group LP now owns 1,713,233 shares of the oil and natural gas company’s stock valued at $59,038,000 after buying an additional 1,451,091 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in Antero Resources by 676.5% during the 3rd quarter. Marshall Wace LLP now owns 1,632,627 shares of the oil and natural gas company’s stock worth $54,791,000 after buying an additional 1,422,377 shares during the last quarter. 83.04% of the stock is owned by institutional investors and hedge funds.
Antero Resources Price Performance Shares of NYSE AR opened at $37.45 on Thursday. Antero Resources Corporation has a 1-year low of $29.10 and a 1-year high of $45.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.40 and a quick ratio of 0.40. The business’s fifty day moving average price is $34.81 and its two-hundred day moving average price is $36.62. The firm has a market capitalization of $11.51 billion, a PE ratio of 10.76 and a beta of 0.34.
Wall Street Analysts Forecast Growth A number of equities research analysts have recently weighed in on AR shares. Jefferies Financial Group reiterated a “buy” rating and issued a $57.00 price target on shares of Antero Resources in a report on Friday, May 1st. Truist Financial dropped their target price on shares of Antero Resources from $56.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Bank of America lifted their price target on shares of Antero Resources from $39.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Wolfe Research reaffirmed an “outperform” rating and set a $48.00 price objective on shares of Antero Resources in a research report on Thursday, July 30th. Finally, Texas Capital upgraded shares of Antero Resources to a “strong-buy” rating in a research note on Thursday, June 25th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.31.
View Our Latest Analysis on Antero Resources
About Antero Resources (Free Report)
Antero Resources Corporation is an independent exploration and production company focused on the development of natural gas, natural gas liquids (NGLs) and oil properties in the Appalachian Basin of the United States. The company’s operations target the Marcellus and Utica shales, where it applies advanced drilling and completion techniques to optimize recovery from its large acreage position. Antero’s portfolio encompasses significant reserves of ethane, propane and other NGLs, alongside dry gas volumes that are positioned to serve both domestic and export markets.
Headquartered in Denver, Colorado, Antero Resources holds approximately 1.8 million net acres of leasehold interests across parts of West Virginia and Ohio.
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Cetera Investment Advisers increased its holdings in shares of Antero Resources Corporation (NYSE:AR – Free Report) by 281.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,958 shares of the oil and natural gas company’s stock after acquiring an additional 64,168 shares during the quarter. Cetera Investment Advisers’ holdings in Antero Resources were worth $3,690,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of AR. NewEdge Advisors LLC increased its holdings in shares of Antero Resources by 16,498.3% during the 1st quarter. NewEdge Advisors LLC now owns 9,627 shares of the oil and natural gas company’s stock worth $389,000 after buying an additional 9,569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Antero Resources by 7.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 590,555 shares of the oil and natural gas company’s stock worth $23,882,000 after acquiring an additional 43,312 shares during the last quarter. Focus Partners Wealth increased its stake in Antero Resources by 18.9% during the first quarter. Focus Partners Wealth now owns 19,921 shares of the oil and natural gas company’s stock worth $806,000 after acquiring an additional 3,169 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Antero Resources by 701.3% in the second quarter. EverSource Wealth Advisors LLC now owns 2,989 shares of the oil and natural gas company’s stock valued at $120,000 after purchasing an additional 2,616 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Antero Resources by 22.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 36,500 shares of the oil and natural gas company’s stock valued at $1,470,000 after purchasing an additional 6,700 shares during the last quarter. 83.04% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets A number of equities research analysts have recently issued reports on the stock. Roth Capital reissued a “neutral” rating and issued a $38.00 price target on shares of Antero Resources in a research note on Thursday, April 30th. Mizuho upped their price target on Antero Resources from $54.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Wells Fargo & Company lifted their price objective on Antero Resources from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Weiss Ratings upgraded Antero Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Finally, Bank of America increased their target price on Antero Resources from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $48.53.
Read Our Latest Analysis on AR
Antero Resources Stock Down 3.8% AR stock opened at $34.32 on Thursday. Antero Resources Corporation has a fifty-two week low of $29.10 and a fifty-two week high of $45.75. The company’s 50 day moving average price is $34.79 and its 200 day moving average price is $36.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 9.86 and a beta of 0.34.
Antero Resources Profile (Free Report)
Antero Resources Corporation is an independent exploration and production company focused on the development of natural gas, natural gas liquids (NGLs) and oil properties in the Appalachian Basin of the United States. The company’s operations target the Marcellus and Utica shales, where it applies advanced drilling and completion techniques to optimize recovery from its large acreage position. Antero’s portfolio encompasses significant reserves of ethane, propane and other NGLs, alongside dry gas volumes that are positioned to serve both domestic and export markets.
Headquartered in Denver, Colorado, Antero Resources holds approximately 1.8 million net acres of leasehold interests across parts of West Virginia and Ohio.
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BRIDGEPORT, W. Va.--(BUSINESS WIRE)--Beginning in the 2026-2027 athletic season, Antero will be the Official Jersey Patch Sponsor of West Virginia University (WVU) Department of Intercollegiate Athletics. Antero and WVU reached a five-year partnership in which Antero’s logos will be featured on the home and away jerseys of all 18 WVU men’s and women’s varsity sports, marking the first jersey sponsorship patch in school history.
Antero and WVU reached a five-year partnership in which Antero’s logos will be featured all 18 WVU men’s and women’s varsity sports, marking the first jersey sponsorship patch in school history.
Share Antero Resources is the largest producer of energy in West Virginia, producing nearly half of the state’s natural gas. The company is an independent oil and gas company that acquires, explores, develops, and produces natural gas, natural gas liquids, and oil in the Appalachian Basin in West Virginia.
“Since beginning operations in West Virginia in 2008, Antero has prioritized investing in the communities in which our team members live and work,” said Michael Kennedy, CEO of Antero Resources and Antero Midstream. “Antero is proud to partner with WVU as the Official Jersey Patch Sponsor and support Mountaineer student athletes.”
To date, Antero has invested billions of dollars in West Virginia, most recently acquiring additional West Virginia natural gas assets for nearly $4 billion.
In 2023, Antero Resources and Antero Midstream donated $4 million to WVU’s Benjamin M. Statler College of Engineering and Mineral Resources, their largest philanthropic donation to date. The donation helped provide support for undergraduate and graduate students in petroleum and natural gas engineering and established a first of its kind online master's degree in midstream engineering.
“Antero has a strong history of investment in both the state of West Virginia and West Virginia University,” said Conrad Baston, Vice President of Procurement and Administration at Antero Resources and Antero Midstream. “We are thrilled to take the next step in modern college athletics by supporting the student athletes at WVU.”
The partnership between Antero and WVU includes Antero's logo patch on every Mountaineer jersey, and a myriad of marketing assets across WVU sports channels.
“Today marks a historic day for West Virginia University,” said Wren Baker, Vice President and Director of Athletics at WVU. “Our partnership with Antero is a testament to their on-going commitment to invest in the state of West Virginia, our University, and student athletes. More than 500 student-athletes proudly wear the West Virginia jersey and now they will proudly represent Antero.”
Antero Resources (NYSE: AR) is an independent oil and gas company that acquires, explores, develops and produces natural gas, natural gas liquids (“NGLs”), and oil in West Virginia. Through its extensive transportation portfolio, strategic midstream relationships, and integrated marketing approach, Antero delivers natural gas and NGLs to premier markets across the United States and abroad. Antero’s partnership with Antero Midstream Corporation (NYSE: AM) provides reliable access to critical gathering, processing, transportation, and water infrastructure services, making Antero Resources one of the most integrated natural gas operations in Appalachia and in West Virginia. For more information about both companies, visit www.anteroresources.com and www.anteromidstream.com.
, /PRNewswire/ -- Beginning in the 2026-2027 athletic season, Antero will be the Official Jersey Patch Sponsor of West Virginia University (WVU) Department of Intercollegiate Athletics. Antero and WVU reached a five-year partnership in which Antero's logos will be featured on the home and away jerseys of all 18 WVU men's and women's varsity sports, marking the first jersey sponsorship patch in school history.
Antero Resources is the largest producer of energy in West Virginia, producing nearly half of the state's natural gas. The company is an independent oil and gas company that acquires, explores, develops, and produces natural gas, natural gas liquids, and oil in the Appalachian Basin in West Virginia.
"Since beginning operations in West Virginia in 2008, Antero has prioritized investing in the communities in which our team members live and work," said Michael Kennedy, CEO of Antero Resources and Antero Midstream. "Antero is proud to partner with WVU as the Official Jersey Patch Sponsor and support Mountaineer student athletes."
To date, Antero has invested billions of dollars in West Virginia, most recently acquiring additional West Virginia natural gas assets for nearly $4 billion.
In 2023, Antero Resources and Antero Midstream donated $4 million to WVU's Benjamin M. Statler College of Engineering and Mineral Resources, their largest philanthropic donation to date. The donation helped provide support for undergraduate and graduate students in petroleum and natural gas engineering and established a first of its kind online master's degree in midstream engineering.
"Antero has a strong history of investment in both the state of West Virginia and West Virginia University," said Conrad Baston, Vice President of Procurement and Administration at Antero Resources and Antero Midstream. "We are thrilled to take the next step in modern college athletics by supporting the student athletes at WVU."
The partnership between Antero and WVU includes Antero's logo patch on every Mountaineer jersey, and a myriad of marketing assets across WVU sports channels.
"Today marks a historic day for West Virginia University," said Wren Baker, Vice President and Director of Athletics at WVU. "Our partnership with Antero is a testament to their on-going commitment to invest in the state of West Virginia, our University, and student athletes. More than 500 student-athletes proudly wear the West Virginia jersey and now they will proudly represent Antero."
Antero Resources (NYSE: AR) is an independent oil and gas company that acquires, explores, develops and produces natural gas, natural gas liquids ("NGLs"), and oil in West Virginia. Through its extensive transportation portfolio, strategic midstream relationships, and integrated marketing approach, Antero delivers natural gas and NGLs to premier markets across the United States and abroad. Antero's partnership with Antero Midstream Corporation (NYSE: AM) provides reliable access to critical gathering, processing, transportation, and water infrastructure services, making Antero Resources one of the most integrated natural gas operations in Appalachia and in West Virginia. For more information about both companies, visit www.anteroresources.com and www.anteromidstream.com.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of AR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Disclaimer: I am not an investment advisor, and this is not a recommendation to buy or sell a security. Investors are recommended to read all of the company's filings and press releases, as well as do their own research to determine if the company fits their own investment objectives and risk portfolios. I may buy more shares without any further notice.
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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Bank of Nova Scotia trimmed its position in Antero Resources Corporation (NYSE: AR) by 95.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 12,614 shares of the oil and natural gas company's stock after selling 266,458 shares during the period. Bank of Nova Scotia's
Key Takeaways Antero Resources reported y/y revenue growth in Q2 as record production reached 4.1 Bcfe/d.AR's HG Energy acquisition and lower cash costs supported higher EBITDAX and margins.Antero Resources raised its 2026 production guidance after July acquisitions expanded its footprint. Antero Resources Corporation (AR - Free Report) reported second-quarter 2026 adjusted earnings of 76 cents per share, beating the Zacks Consensus Estimate of 75 cents. Revenues of $1.6 billion beat the consensus estimate of $1.5 billion by 6.7% and increased from $1.3 billion in the year-ago quarter.
The strong quarterly performance was supported by record production, lower cash costs and benefits from the HG Energy acquisition. Net production averaged 4.1 Bcfe/d, up 21% year over year, while adjusted EBITDAX rose 57% to $595 million.
AR Production Growth Supports ResultsAntero Resources delivered record production in the second quarter, with average net output reaching 4.1 Bcfe/d, including 216 MBbl/d of liquids. The figure is in line with our estimate of 4.1 Bcfe/d.
Natural gas production averaged 2,847 MMcf/d, while C3+ NGL production averaged 121,132 Bbl/d and C2 NGL production averaged 86,769 Bbl/d.
The company placed 26 Marcellus wells to sales during the quarter with an average lateral length of 13,323 feet. The 21 wells that had been online for about 60 days averaged 25 MMcfe/d per well, including 975 Bbl/d of liquids per well assuming 25% ethane recovery.
Antero Resources Benefits From HG EnergyAR saw year-over-year revenue growth from stronger production volumes and contributions from the HG Energy assets. Total revenues increased to $1.6 billion from $1.3 billion in the prior-year quarter, helped by higher natural gas liquids sales, oil sales, and commodity derivative gains.
The company’s revenues included $688.5 million from natural gas sales, $587.7 million from natural gas liquids sales and $59.6 million from oil sales. The figures are slightly below our estimates of $705.6 million from natural gas sales, $653.4 million from natural gas liquids sales and $63.1 million, respectively. Commodity derivative fair value gains increased to $160.6 million from $53.4 million a year ago.
AR Improves Cost Structure & MarginsAntero Resources reported total cash operating costs of $2.38 per Mcfe in the quarter, down $0.29 per Mcfe, or 11%, from the prior-year period. Cash production expenses were $2.22 per Mcfe compared with $2.48 per Mcfe in the second quarter of 2025. The figure is marginally above our estimate of 2.21 per Mcfe.
Operating expenses rose to $1.18 billion from $1.09 billion a year ago, reflecting higher gathering, compression, processing and transportation costs, as well as increased depletion, depreciation and amortization. The figure is also above our estimate of $1.14 billion.
Operating income, however, improved to $375.5 million from $204.9 million. The metric also beat our estimate of $323.3 million.
Antero Resources Expands Development PositionAR completed strategic acquisitions in July for approximately $315 million within its West Virginia development footprint. The properties add about 125 MMcfe/d of net production, 3,500 net undeveloped acres and 15 net undeveloped locations.
The company also continued investing in its resource base during the quarter. Drilling and completion capital expenditure totaled $297 million, while land investment reached $29 million, adding approximately 5,000 net acres and 20 incremental net drilling locations.
AR Updates 2026 Outlook & Cash FlowAntero Resources raised its 2026 production guidance to 4.15-4.2 Bcfe/d, citing strong year-to-date performance and the July acquisitions. Third-quarter production is expected to average 4.25-4.3 Bcfe/d, with fourth-quarter production forecast at 4.4-4.5 Bcfe/d.
The company lowered cash production expense guidance to $2.20-$2.30 per Mcfe and adjusted its expected natural gas realized price premium to NYMEX Henry Hub to 5-15 cents per Mcf. C2 NGL realized price premium guidance was increased to $2.50-$3 per barrel.
Antero Resources Strengthens Financial FlexibilityAR generated $438.8 million in net cash from operating activities during the second quarter. The adjusted free cash flow before changes in working capital was $219.8 million compared with $156.3 million in the year-ago period.
The company also continued its capital return program, repurchasing 1.1 million shares for approximately $38 million during the quarter at an average weighted price of $34.25 per share. As of the earnings release, Antero Resources had approximately $880 million of remaining capacity under its share repurchase program.
Antero Resources’ balance sheet reflected total debt of $2.6 billion as of June 30, 2026, including $1.1 billion outstanding under its term loan and $600 million of senior notes due 2030.
Zacks Rank & Stocks to ConsiderAntero Resources currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the energy sector are Par Pacific Holdings (PARR - Free Report) , Valero Energy (VLO - Free Report) and Kinder Morgan Inc. (KMI - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.
Par Pacific operates an integrated downstream energy business across the United States, with fuel retail operations in Hawaii, Washington and Idaho, refining operations in Hawaii, Wyoming, Washington and Montana, and a supporting logistics network. Its refineries have a combined crude oil throughput capacity of 219,000 barrels per day and produce gasoline, diesel, jet fuel, marine fuels, asphalt and other petroleum products.
Valero Energy is a leading refining player with a robust network of 14 refineries and a combined high-complexity throughput capacity of 3 million barrels per day, which distinguishes it from other independent refiners. Valero’s refineries have a combined Nelson Complexity Index of 11.5, which implies that they can process a wide variety of feedstocks, convert them into higher-value products and shift product yields according to market conditions.
Kinder Morgan operates one of North America's largest natural gas infrastructure networks, consisting of approximately 58,600 miles of transmission pipelines, 6,800 miles of gathering systems and 1,300 miles of natural gas liquids pipelines. KMI transports nearly 40% of U.S. natural gas production and controls more than 700 billion cubic feet of storage capacity, representing roughly 15% of the nation's total storage capacity.
Antero Resources (AR - Free Report) came out with quarterly earnings of $0.76 per share, beating the Zacks Consensus Estimate of $0.75 per share. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +1.33%. A quarter ago, it was expected that this oil and natural gas producer would post earnings of $1.22 per share when it actually produced earnings of $1.15, delivering a surprise of -5.74%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Antero Resources, which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry, posted revenues of $1.56 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.41%. This compares to year-ago revenues of $1.3 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Antero Resources shares have lost about 1.7% since the beginning of the year versus the S&P 500's gain of 8.5%.
What's Next for Antero Resources?While Antero Resources has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Antero Resources was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.92 on $1.58 billion in revenues for the coming quarter and $4.16 on $6.77 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Exploration and Production - United States is currently in the bottom 13% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Cheniere Energy (LNG - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 6.
This natural gas company is expected to post quarterly earnings of $2.78 per share in its upcoming report, which represents a year-over-year change of -61.9%. The consensus EPS estimate for the quarter has been revised 1.9% lower over the last 30 days to the current level.
Cheniere Energy's revenues are expected to be $5.03 billion, up 8.4% from the year-ago quarter.
For the quarter ended June 2026, Antero Resources (AR - Free Report) reported revenue of $1.56 billion, up 20.2% over the same period last year. EPS came in at $0.76, compared to $0.35 in the year-ago quarter.
The reported revenue represents a surprise of +4.41% over the Zacks Consensus Estimate of $1.49 billion. With the consensus EPS estimate being $0.75, the EPS surprise was +1.33%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Antero Resources performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average Net Production per day - Oil: 8,330.00 BBL/D versus the six-analyst average estimate of 9,160.65 BBL/D.Average Net Production per day - Natural Gas: 2847 millions of cubic feet per day versus 2829.67 millions of cubic feet per day estimated by six analysts on average.Average realized prices after effects of derivative settlements - Natural gas: $3.18 per thousand cubic feet compared to the $3.23 per thousand cubic feet average estimate based on five analysts.Average Net Production per day - Combined Natural Gas Equivalent: 4,144.00 MMcfe/D versus the five-analyst average estimate of 4,104.26 MMcfe/D.Average realized prices after effects of derivative settlements - Oil: $/78.6 versus $/79.13 estimated by four analysts on average.Production - Natural gas: 259.00 Bcf compared to the 257.32 Bcf average estimate based on three analysts.Production - Oil: 758.00 MBBL versus the three-analyst average estimate of 811.08 MBBL.Average prices before effects of derivative settlements - Natural gas: $2.66 per thousand cubic feet versus the three-analyst average estimate of $2.72 per thousand cubic feet.Revenue and other- Natural gas sales: $688.48 million versus the three-analyst average estimate of $788.5 million. The reported number represents a year-over-year change of 0%.Revenue and other- Marketing: $56.07 million compared to the $31.09 million average estimate based on two analysts. The reported number represents a change of +66.2% year over year.Revenue and other- Oil sales: $59.58 million versus $67.78 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +76.8% change.Revenue and other- Natural gas liquids sales: $587.71 million versus the two-analyst average estimate of $623.92 million. The reported number represents a year-over-year change of +22.3%.View all Key Company Metrics for Antero Resources here>>>
Shares of Antero Resources have returned -3.6% over the past month versus the Zacks S&P 500 composite's +1.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
, /PRNewswire/ -- Antero Midstream Corporation (NYSE: AM) ("Antero Midstream" or the "Company") today announced its second quarter 2026 financial and operating results. The relevant consolidated financial statements are included in Antero Midstream's Quarterly Report on Form 10-Q for the three months ended June 30, 2026.
Highlights:
Gathering and compression volumes increased by 19% and 17%, respectively, compared to the prior year quarter Net Income was $114 million, or $0.24 per diluted share, an 8% per share decrease compared to the prior year quarter Adjusted Net Income was $131 million, or $0.27 per diluted share, a 7% per share decrease compared to the prior year quarter (non-GAAP measure) Adjusted EBITDA was $289 million, a 2% increase compared to the prior year quarter (non-GAAP measure) Capital expenditures were $47 million Adjusted Free Cash Flow after dividends was $80 million (non-GAAP measure) Commenced construction on the Company's first intrastate regional pipeline ("East Side Express") Received $371 million in damages and interest from Veolia in July and called $650 million of senior notes due 2028 at par Michael Kennedy, CEO and President of Antero Midstream said, "During the quarter, Antero Midstream gathered over 4.1 Bcf/d of production, which was a 19% increase year-over-year and a new company record. Our water integration projects remain on track, which we expect to drive high-single digit EBITDA growth in 2027."
Mr. Kennedy further added, "In addition, during the quarter we commenced initial construction of our first intrastate regional pipeline, the "East Side Express", which will enhance regional connectivity within our operating areas. This pipeline positions Antero Midstream for future dry gas growth in West Virginia with decades of underlying inventory to capture growing regional demand. This east-west bi-directional pipeline represents our first regional pipeline and adds significant optionality for future intrastate pipeline projects that provide an integrated midstream solution connecting low-cost supply to demand centers."
Justin Agnew, CFO of Antero Midstream, said "The second quarter marked our twelfth consecutive quarter of generating Free Cash Flow after dividends, highlighting the consistency of operations over the last three years. Looking ahead, we expect an increase in volumes across both the gathering and water businesses to drive EBITDA growth in the back half of the year in line with our full year guidance range."
Mr. Agnew further added, "In July, Antero Midstream received approximately $371 million of proceeds from Veolia, which allowed us to reduce absolute debt and be below our 3-times leverage target ahead of expectations. After calling the $650 million of senior notes due 2028 at par, Antero Midstream has over $600 million of liquidity and no near-term maturities. This provides us with significant liquidity and balance sheet capacity to pursue additional growth opportunities and further return of capital to shareholders."
For a discussion of the non-GAAP financial measures, including Adjusted EBITDA, Adjusted Net Income, Leverage, and Adjusted Free Cash Flow after dividends please see "Non-GAAP Financial Measures and Definitions."
Clearwater Lawsuit Update
On June 23, 2026 the Colorado Supreme Court affirmed that Antero Midstream had prevailed on its claims against Veolia relating to the Clearwater Facility. On July 24, 2026 Antero Midstream received approximately $371 million in damages and interest. These proceeds and borrowings under the revolving credit facility are being used to call the $650 million of senior unsecured notes due 2028 at par.
Share Repurchases
During the second quarter of 2026, Antero Midstream repurchased 0.4 million shares for approximately $8 million. Antero Midstream had approximately $310 million of remaining capacity under its share repurchase program as of June 30, 2026.
Strategic and Operating Updates
During the quarter, Antero Midstream began its multiyear investment in the East Side Express, the Company's first dry gas regional connectivity expansion project. This project will expand dry gas deliveries to several different long haul and regional pipelines and will enhance optionality to local markets in order to capture growing regional demand around the Company's area of operations.
Antero Midstream connected 26 wells to its gathering system and serviced 21 wells with its fresh water delivery system during the quarter. Capital expenditures were $47 million during the second quarter of 2026. The Company invested $33 million in gathering and compression and $14 million in water infrastructure.
Second Quarter 2026 Financial Results
Gathering and compression volumes increased by 19% and 17%, respectively, compared to the prior year quarter. Fresh water delivery volumes averaged 82 MBbl/d during the quarter, a 16% decrease compared to the second quarter of 2025. Processing volumes from the processing and fractionation joint venture (the "Joint Venture") averaged 1.6 Bcf/d and Joint Venture fractionation volumes averaged 40 MBbl/d, both in line with the prior year quarter. Processing and fractionation capacity were both 100% utilized during the quarter.
For the three months ended June 30, 2026, revenues were $327 million, comprised of $272 million from the Gathering and Processing segment and $79 million from the Water Handling segment, net of $23 million of amortization of customer relationships. Water Handling revenues include $45 million from other water handling and high rate water transfer services.
Direct operating expenses were $37 million for the Gathering and Processing segment and $48 million for the Water Handling segment for a total of $85 million. Water Handling operating expenses include $40 million from other water handling and high rate water transfer services. General and administrative expenses excluding equity-based compensation were $12 million during the second quarter of 2026. Total operating expenses during the second quarter of 2026 included $11 million of equity-based compensation expense and $37 million of depreciation expense.
Net Income was $114 million, or $0.24 per diluted share. Net Income adjusted for amortization of customer relationships, impairment of property and equipment, transaction expense and other, net of tax effects of reconciling items, or Adjusted Net Income, was $131 million. Adjusted Net Income was $0.27 per diluted share, a 7% per share decrease compared to the prior year quarter.
The following table reconciles Net Income to Adjusted Net Income (in thousands):
Three Months Ended
June 30,
2025
2026
Net Income
$
124,513
113,515
Amortization of customer relationships
17,668
22,802
Impairment of property and equipment
—
133
Transaction expense
—
273
Other(1)
—
409
Tax effect of reconciling items(2)
(4,564)
(6,112)
Adjusted Net Income
$
137,617
131,020
(1)
Other represents loss on settlement of asset retirement obligations.
(2)
The statutory tax rate for each of the three months ended June 30, 2025 and 2026 was approximately 26%.
Adjusted EBITDA was $289 million, a 2% increase compared to the prior year quarter. Interest expense was $56 million, a 16% increase compared to the prior year quarter driven by financing for the HG Energy acquisition. Capital expenditures were $47 million during the second quarter of 2026. Adjusted Free Cash Flow before dividends was $186 million and Adjusted Free Cash Flow after dividends was $80 million.
The following table reconciles Net Income to Adjusted EBITDA and Adjusted Free Cash Flow before and after dividends (in thousands):
Three Months Ended
June 30,
2025
2026
Net Income
$
124,513
113,515
Interest expense, net
47,962
55,680
Income tax expense
43,985
40,966
Depreciation expense
33,364
37,378
Amortization of customer relationships
17,668
22,802
Equity-based compensation
11,407
10,828
Equity in earnings of unconsolidated affiliates
(30,016)
(28,525)
Distributions from unconsolidated affiliates
35,355
35,280
Impairment of property and equipment
—
133
Transaction expense
—
273
Other operating expense, net(1)
50
454
Adjusted EBITDA
$
284,288
288,784
Interest expense, net
(47,962)
(55,680)
Capital expenditures (accrual-based)
(44,847)
(46,678)
Current income tax expense
(1,908)
—
Adjusted Free Cash Flow before dividends
$
189,571
186,426
Dividends declared (accrual-based)
(107,678)
(106,801)
Adjusted Free Cash Flow after dividends
$
81,893
79,625
(1)
Other operating expense, net represents accretion of asset retirement obligations and loss on settlement of asset retirement obligations.
The following table reconciles net cash provided by operating activities to Adjusted Free Cash Flow before and after dividends (in thousands):
Three Months Ended
June 30,
2025
2026
Net cash provided by operating activities
$
265,183
254,249
Amortization of deferred financing costs
(1,314)
(1,539)
Settlement of asset retirement obligations
48
40
Transaction expense
—
273
Changes in working capital
(29,499)
(19,919)
Capital expenditures (accrual-based)
(44,847)
(46,678)
Adjusted Free Cash Flow before dividends
$
189,571
186,426
Dividends declared (accrual-based)
(107,678)
(106,801)
Adjusted Free Cash Flow after dividends
$
81,893
79,625
Conference Call
A conference call is scheduled on Thursday, July 30, 2026 at 10:00 am MT to discuss the financial and operational results. A brief Q&A session for security analysts will immediately follow the discussion of the results. To participate in the call, dial in at 877-407-9126 (U.S.), or +1 201-493-6751 (International) and reference "Antero Midstream." A telephone replay of the call will be available until Thursday, August 6, 2026 at 10:00 am MT at 877-660-6853 (U.S.) or +1 201-612-7415 (International) using the conference ID: 13758948. To access the live webcast and view the related earnings conference call presentation, visit Antero Midstream's website at www.anteromidstream.com. The webcast will be archived for replay until Thursday, August 6, 2026 at 10:00 am MT.
Presentation
An updated presentation will be posted to the Company's website before the conference call. The presentation can be found at www.anteromidstream.com on the homepage. Information on the Company's website does not constitute a portion of, and is not incorporated by reference into this press release.
Non-GAAP Financial Measures and Definitions
Antero Midstream uses certain non-GAAP financial measures. Antero Midstream defines Adjusted Net Income as Net Income adjusted for certain items. Antero Midstream uses Adjusted Net Income to assess the operating performance of its assets. Antero Midstream defines Adjusted EBITDA as Net Income adjusted for certain items.
Antero Midstream uses Adjusted EBITDA to assess:
the financial performance of Antero Midstream's assets, without regard to financing methods, capital structure or historical cost basis; its operating performance and return on capital as compared to other publicly traded companies in the midstream energy sector, without regard to financing or capital structure; and the viability of acquisitions and other capital expenditure projects. Antero Midstream defines Adjusted Free Cash Flow before dividends as Adjusted EBITDA less net interest expense, accrual-based capital expenditures, and current income tax expense. Capital expenditures include additions to gathering systems and facilities, additions to water handling systems, and investments in unconsolidated affiliates. Capital expenditures exclude acquisitions and Adjusted Free Cash Flow excludes transaction expense related to acquisitions. Adjusted Free Cash Flow after dividends is defined as Adjusted Free Cash Flow before dividends less accrual-based dividends declared for the quarter. Antero Midstream uses Adjusted Free Cash Flow before and after dividends as a performance metric to compare the cash generating performance of Antero Midstream from period to period.
Adjusted EBITDA, Adjusted Net Income, and Adjusted Free Cash Flow before and after dividends are non-GAAP financial measures. The GAAP measure most directly comparable to these measures is Net Income. Such non-GAAP financial measures should not be considered as alternatives to the GAAP measures of Net Income and cash flows provided by (used in) operating activities. The presentations of such measures are not made in accordance with GAAP and have important limitations as analytical tools because they include some, but not all, items that affect Net Income and cash flows provided by (used in) operating activities. You should not consider any or all such measures in isolation or as a substitute for analyses of results as reported under GAAP. Antero Midstream's definitions of such measures may not be comparable to similarly titled measures of other companies.
The following table reconciles cash paid for capital expenditures and accrued capital expenditures during the period (in thousands):
Three Months Ended
June 30,
2025
2026
Capital expenditures (as reported on a cash basis)
$
40,064
52,743
Change in accrued capital costs
4,783
(6,065)
Capital expenditures (accrual basis)
$
44,847
46,678
Antero Midstream defines Net Debt as consolidated total debt, excluding unamortized debt premiums and debt issuance costs, less cash, cash equivalents and restricted cash. Antero Midstream views Net Debt as an important indicator in evaluating Antero Midstream's financial leverage. Antero Midstream defines Leverage as Net Debt divided by Adjusted EBITDA for the last twelve months. The GAAP measure most directly comparable to Net Debt is total debt, excluding unamortized debt premiums and debt issuance costs.
The following table reconciles consolidated total debt to Net Debt as used in this release (in thousands):
June 30, 2026
Bank credit facility
$
341,900
5.75% senior notes due 2028
650,000
5.375% senior notes due 2029
750,000
6.625% senior notes due 2032
600,000
5.75% senior notes due 2033
650,000
5.75% senior notes due 2034
600,000
Consolidated total debt
$
3,591,900
Less: Cash, cash equivalents and restricted cash
—
Consolidated net debt
$
3,591,900
Antero Midstream Corporation is a Delaware corporation that owns, operates and develops midstream gathering, compression, processing and fractionation assets located in the Appalachian Basin, as well as integrated water assets that primarily service Antero Resources Corporation's (NYSE: AR) ("Antero Resources") properties.
This release includes "forward-looking statements." Words such as "may," "assume," "forecast," "position," "predict," "strategy," "expect," "intend," "plan," "estimate," "anticipate," "believe," "project," "budget," "potential," or "continue," "goal," or "target" and similar expressions are used to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements are subject to a number of risks and uncertainties, many of which are not under Antero Midstream's control. All statements, except for statements of historical fact, made in this release regarding activities, events or developments Antero Midstream expects, believes or anticipates will or may occur in the future, such as statements regarding our strategy, future operations, financial position, estimated revenues and losses, Antero Resources' and Antero Midstream's respective ability to integrate acquired assets and achieve the intended operational, financial and strategic benefits from any such transactions, projected costs, prospects, plans and objectives of management, Antero Resources' expected production and development plan, natural gas, NGLs and oil prices, Antero Midstream's ability to realize the anticipated benefits of its investments in unconsolidated affiliates, Antero Midstream's ability to execute its share repurchase and dividend program, Antero Midstream's ability to execute its business strategy, impacts of geopolitical events, including the conflicts in Ukraine, Venezuela and in the Middle East, and world health events, information regarding long-term financial and operating outlooks for Antero Midstream and Antero Resources, information regarding Antero Resources' expected future growth and its ability to meet its drilling and development plan and the participation level of Antero Resources' drilling partner, the impact on demand for Antero Midstream's services as a result of incremental production by Antero Resources, the impact of recently enacted legislation, and expectations regarding the amount and timing of litigation awards are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on management's current beliefs, based on currently available information, as to the outcome and timing of future events. All forward-looking statements speak only as of the date of this release. Although Antero Midstream believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Except as required by law, Antero Midstream expressly disclaims any obligation to and does not intend to publicly update or revise any forward-looking statements.
Antero Midstream cautions you that these forward-looking statements are subject to all of the risks and uncertainties incidental to our business, most of which are difficult to predict and many of which are beyond Antero Midstream's control. These risks include, but are not limited to, risks associated with the successful integration and future performance of acquired assets and operations, commodity price volatility, inflation, supply chain or other disruptions, environmental risks, Antero Resources' drilling and completion and other operating risks, regulatory changes or changes in law, the uncertainty inherent in projecting Antero Resources' future rates of production, cash flows and access to capital, the timing of development expenditures, impacts of geopolitical events, including the conflicts in Ukraine, Venezuela and the Middle East, and world health events, cybersecurity risks, the state of markets for, and availability of, verified quality carbon offsets and the other risks described under the heading "Risk Factors" in Antero Midstream's Annual Report on Form 10-K for the year ended December 31, 2025 and the Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.
This release is not a notice of redemption of the 2028 notes. The redemption is being made solely pursuant to the Notice of Redemption, dated July 24, 2026, relating to the 2028 notes.
ANTERO MIDSTREAM CORPORATION
Condensed Consolidated Balance Sheets
(In thousands, except per share amounts)
(Unaudited)
December 31,
June 30,
2025
2026
Assets
Current assets:
Cash and cash equivalents
$
180,435
—
Restricted cash
82,500
—
Accounts receivable–Antero Resources
106,771
135,798
Accounts receivable–third party
993
889
Income tax receivable
1,896
1,896
Current assets held for sale
4,600
—
Other current assets
2,669
2,363
Total current assets
379,864
140,946
Long-term assets:
Property and equipment, net
3,454,572
3,942,843
Investments in unconsolidated affiliates
585,778
574,215
Customer relationships
1,074,087
1,652,223
Operating leases right-of-use assets
—
43,066
Assets held for sale
379,036
—
Other assets, net
10,779
10,522
Total assets
$
5,884,116
6,363,815
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable–Antero Resources
$
5,366
5,716
Accounts payable–third party
10,368
12,988
Accrued liabilities
91,527
134,626
Short-term lease liabilities
—
12,786
Current liabilities held for sale
2,297
—
Other current liabilities
1,924
1,235
Total current liabilities
111,482
167,351
Long-term liabilities:
Long-term debt
3,222,530
3,566,179
Deferred income tax liability, net
562,996
641,600
Long-term lease liabilities
—
30,580
Liabilities held for sale
3,021
—
Other
12,046
12,731
Total liabilities
3,912,075
4,418,441
Stockholders' equity:
Preferred stock, $0.01 par value: 100,000 authorized as of December 31, 2025 and June 30,
2026
Series A non-voting perpetual preferred stock; 12 designated and 10 issued and
outstanding as of December 31, 2025 and June 30, 2026
—
—
Common stock, $0.01 par value; 2,000,000 authorized; 474,060 and 474,657 issued and
outstanding as of December 31, 2025 and June 30, 2026, respectively
4,741
4,747
Additional paid-in capital
1,952,524
1,833,934
Retained earnings
14,776
106,693
Total stockholders' equity
1,972,041
1,945,374
Total liabilities and stockholders' equity
$
5,884,116
6,363,815
ANTERO MIDSTREAM CORPORATION
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited)
(In thousands, except per share amounts)
Three Months Ended June30,
2025
2026
Revenue:
Gathering and compression–Antero Resources
$
248,901
271,507
Water handling–Antero Resources
73,773
78,539
Water handling–third party
466
—
Amortization of customer relationships
(17,668)
(22,802)
Total revenue
305,472
327,244
Operating expenses:
Direct operating
63,114
84,526
General and administrative (including $11,407 and $10,828 of equity-based compensation
in 2025 and 2026, respectively)
22,125
22,557
Facility idling
375
287
Depreciation
33,364
37,378
Impairment of property and equipment
—
133
Other operating expense, net
50
454
Total operating expenses
119,028
145,335
Operating income
186,444
181,909
Other income (expense):
Interest expense, net
(47,962)
(55,680)
Equity in earnings of unconsolidated affiliates
30,016
28,525
Transaction expense
—
(273)
Total other expense
(17,946)
(27,428)
Income before income taxes
168,498
154,481
Income tax expense
(43,985)
(40,966)
Net income and comprehensive income
$
124,513
113,515
Net income per common share–basic
$
0.26
0.24
Net income per common share–diluted
$
0.26
0.24
Weighted average common shares outstanding:
Basic
479,083
474,909
Diluted
482,451
477,113
ANTERO MIDSTREAM CORPORATION
Selected Operating Data (Unaudited)
Amount of
Three Months Ended June30,
Increase
Percentage
2025
2026
or Decrease
Change
Operating Data:
Gathering (MMcf)
314,826
375,249
60,423
19
%
Compression (MMcf)
313,706
367,280
53,574
17
%
Centralized compression (MMcf)
313,706
299,283
(14,423)
(5)
%
Well pad compression (MMcf)
—
67,997
67,997
100
%
High pressure gathering (MMcf)
293,146
271,748
(21,398)
(7)
%
Fresh water delivery (MBbl)(1)
8,941
7,479
(1,462)
(16)
%
Other water handling (MBbl)(2)
5,330
12,376
7,046
132
%
Wells serviced by fresh water delivery
11
21
10
91
%
Gathering (MMcf/d)
3,460
4,124
664
19
%
Compression (MMcf/d)
3,447
4,036
589
17
%
Centralized compression (MMcf/d)
3,447
3,289
(158)
(5)
%
Well pad compression (MMcf/d)
—
747
747
100
%
High pressure gathering (MMcf/d)
3,221
2,986
(235)
(7)
%
Fresh water delivery (MBbl/d) (1)
98
82
(16)
(16)
%
Other water handling (MBbl/d) (2)
59
136
77
131
%
Average Realized Fees (3):
Gathering ($/Mcf)
$
0.36
0.37
0.01
3
%
Centralized compression ($/Mcf)
$
0.22
0.22
—
*
High pressure gathering ($/Mcf)
$
0.23
0.23
—
*
Fresh water delivery ($/Bbl) (1)
$
4.37
4.44
0.07
2
%
Joint Venture Operating Data:
Processing (MMcf)
153,560
151,217
(2,343)
(2)
%
Fractionation (MBbl)
3,640
3,640
—
*
Processing (MMcf/d)
1,687
1,662
(25)
(1)
%
Fractionation (MBbl/d)
40
40
—
*
________________________________
*Not meaningful or applicable.
(1)
Fresh water delivery includes fresh water charged at a fixed fee under our water services agreement with Antero Resources.
(2)
Other water handling includes fresh water charged at cost plus 3% for services provided to Antero Resources on its acreage acquired from HG Production and our other fluid handling services charged at cost plus 3% or cost of service.
(3)
The average realized fees for the three months ended June 30, 2026, include annual CPI-based adjustments of approximately 1.5%.
ANTERO MIDSTREAM CORPORATION
Condensed Consolidated Results of Segment Operations (Unaudited)
(In thousands)
Three Months Ended June 30, 2026
Gathering and
Water
Consolidated
(in thousands)
Processing
Handling
Unallocated (1)
Total
Revenues:
Revenue–Antero Resources
$
271,507
78,539
—
350,046
Amortization of customer relationships
(13,784)
(9,018)
—
(22,802)
Total revenues
257,723
69,521
—
327,244
Operating expenses:
Direct operating
36,533
47,993
—
84,526
General and administrative (excluding equity-based
compensation)
6,564
2,625
2,540
11,729
Equity-based compensation
7,988
2,526
314
10,828
Facility idling
—
287
—
287
Depreciation
18,884
18,494
—
37,378
Impairment of property and equipment
133
—
—
133
Other operating expense, net
—
454
—
454
Total operating expenses
70,102
72,379
2,854
145,335
Operating income (loss)
187,621
(2,858)
(2,854)
181,909
Other income (expense):
Interest expense, net
—
—
(55,680)
(55,680)
Equity in earnings of unconsolidated affiliates
28,525
—
—
28,525
Transaction expense
—
—
(273)
(273)
Total other income (expense)
28,525
—
(55,953)
(27,428)
Income (loss) before income taxes
216,146
(2,858)
(58,807)
154,481
Income tax expense
—
—
(40,966)
(40,966)
Net income (loss) and comprehensive income (loss)
$
216,146
(2,858)
(99,773)
113,515
________________________________
(1)
Corporate expenses that are not directly attributable to either the gathering and processing or water handling segments.
ANTERO MIDSTREAM CORPORATION
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
Six Months Ended June 30,
2025
2026
Cash flows provided by (used in) operating activities:
Net income
$
245,250
231,781
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation
66,112
72,013
Impairment of property and equipment
817
133
Deferred income tax expense
76,493
78,605
Equity-based compensation
23,809
21,407
Equity in earnings of unconsolidated affiliates
(58,036)
(58,537)
Distributions from unconsolidated affiliates
68,730
71,000
Amortization of customer relationships
35,336
44,012
Amortization of deferred financing costs
2,621
3,051
Settlement of asset retirement obligations
(258)
(74)
Gain on long-lived assets
—
(2,658)
Other operating activities
94
488
Changes in assets and liabilities:
Accounts receivable–Antero Resources
3,557
(8,345)
Accounts receivable–third party
304
361
Other current assets
(195)
120
Accounts payable–Antero Resources
166
416
Accounts payable–third party
1,750
3,501
Income taxes payable
989
—
Accrued liabilities
(3,414)
35,599
Net cash provided by operating activities
464,125
492,873
Cash flows provided by (used in) investing activities:
Additions to gathering systems, facilities and other
(43,094)
(54,838)
Additions to water handling systems
(24,168)
(35,811)
Additional investments in unconsolidated affiliate
(5,078)
(900)
Acquisition of HG Midstream
—
(1,103,032)
Proceeds from asset sales
6
378,628
Other investing activities
—
171
Net cash used in investing activities
(72,334)
(815,782)
Cash flows provided by (used in) financing activities:
Dividends to common stockholders
(224,134)
(220,735)
Dividends to preferred stockholders
(275)
(275)
Repurchases of common stock
(45,340)
(26,355)
Borrowings on Credit Facility
567,500
1,411,200
Repayments on Credit Facility
(662,500)
(1,069,300)
Payments of deferred financing costs
—
(1,784)
Employee tax withholding for settlement of equity-based compensation awards
(27,042)
(32,555)
Payments on capital lease obligations
—
(222)
Net cash provided by (used in) financing activities
(391,791)
59,974
Net decrease in cash, cash equivalents and restricted cash
—
(262,935)
Cash, cash equivalents and restricted cash, beginning of period
—
262,935
Cash, cash equivalents and restricted cash, end of period
$
—
—
Supplemental disclosure of cash flow information:
Cash paid during the period for interest
93,416
91,865
Income taxes paid during the period
2,600
—
Increase (decrease) in accrued capital expenditures and accounts payable for property and
equipment
9,795
(2,919)
Right-of-use assets obtained in exchange for new operating lease obligations
, /PRNewswire/ -- Antero Resources Corporation (NYSE: AR) ("Antero Resources," "Antero," or the "Company") today announced its second quarter 2026 financial and operating results. The relevant consolidated financial statements are included in Antero Resources' Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.
Highlights:
Net production was a company record and above guidance at over 4.1 Bcfe/d, an increase of 21% from the year ago period Net income was $279 million and Adjusted Net Income was $236 million (Non-GAAP) Adjusted EBITDAX was $595 million (Non-GAAP), an increase of 57% compared to the prior year period Net cash provided by operating activities was $439 million Total cash operating costs were at the low end of the guidance range at $2.38 per Mcfe, a decrease of $0.29 per Mcfe, or 11%, from the year ago period Adjusted Free Cash Flow before changes in working capital was $220 million (Non-GAAP), an increase of 41% compared to the year ago period Purchased 1.1 million shares for approximately $38 million during the quarter Completed $315 million of strategic acquisitions in July 2026 in Antero's core Marcellus footprint, including 125 MMcfe/d of net production and 15 net drilling locations Reversion of the overriding royalty interests results in an expected $60 million increase in annualized future cash, or a $0.04 per Mcfe margin uplift 2026 Guidance Updates:
Increasing production guidance to a range of 4.15 to 4.2 Bcfe/d for the full year 2026 Increasing C2 NGL realized price premium to Mont Belvieu to $2.50 to $3.00 per Bbl Decreasing cash production expense guidance to a range of $2.20 to $2.30 per Mcfe Decreasing the realized natural gas price premium to NYMEX to a range of $0.05 to $0.15 per Mcfe Michael Kennedy, CEO and President of Antero Resources commented, "The second quarter of 2026 reflects the first full quarter following our acquisition of HG Energy. Our quarterly results highlight the substantial benefits from this transaction. Our production base increased by more than 20% from a year ago and our cost structure declined by over 10%. In combination with the strategic acquisitions we completed this July, we expect our per unit costs to continue to decline into year end. Further, while the region's gross production has remained flat, net production to Antero is expected to exit the year over 25% higher than the prior year."
Mr. Kennedy continued, "Our improved competitive position provides us with great visibility and confidence in our Free Cash Flow, which supported the accelerated timing of our share repurchase program. During the second quarter we purchased 1.1 million shares for $38 million and we plan to continue being countercyclical with our buybacks when we see opportunities."
Brendan Krueger, CFO of Antero Resources said, "Our recently announced cost reduction initiative is expected to decrease our cost structure by $0.70 per Mcfe from 2025 levels, or 25% in total by year-end 2028. With the integration of HG Energy, we are already nearly halfway towards achieving this target. Lower cash costs will drive significant increases in per unit margins. Additionally, when combining this lower cost structure with our liquids product diversification and hedging strategy, we expect a substantial reduction in cash flow volatility going forward. This was highlighted through our second quarter 2026 results where the Henry Hub natural gas price declined 16% from the year ago period, while our adjusted EBITDAX increased 57%."
For a discussion of the non-GAAP financial measures including Adjusted Net Income, Adjusted EBITDAX, Adjusted Free Cash Flow and Net Debt please see "Non-GAAP Financial Measures."
2026 Guidance Update
Antero is increasing its full year 2026 production guidance to a range of 4.15 to 4.2 Bcfe/d, to reflect strong performance year-to-date and the acquisitions made in July 2026. Antero is forecasting 5 Bcfe of curtailments in the third quarter of 2026 and expects third quarter production to average 4.25 to 4.3 Bcfe/d with fourth quarter production increasing to an average of 4.4 to 4.5 Bcfe/d.
Cash production expense guidance was lowered to a range of $2.20 to $2.30 per Mcfe, reflecting the HG Energy integration and optimization of firm transportation agreements. Realized natural gas price premium to NYMEX was lowered primarily to reflect the optimization of the firm transportation arrangements.
Revised 2026 Guidance
Low
High
Net Daily Natural Gas Equivalent Production (Bcfe/d)
4.15
4.2
Cash Production Expense ($/Mcfe)
$2.20
$2.30
Natural Gas Realized Price Premium vs. NYMEX Henry Hub ($/Mcf)
$0.05
$0.15
C2 NGL Realized Price Premium to Mont Belvieu ($/Bbl)
$2.50
$3.00
Note: Any 2026 guidance items not discussed in this release are unchanged from previously stated guidance.
Strategic Updates
Antero acquired properties in its West Virginia development footprint for approximately $315 million. These acquired properties include approximately 125 MMcfe/d of net production and 3,500 net undeveloped acres supporting 15 net undeveloped locations.
On June 30, 2026 Antero dissolved the Martica override entity. The Martica transaction was entered into in 2020 and included overriding royalty interests in Antero's development program. Following return thresholds being achieved in the second quarter of 2026, these overriding royalty interests reverted to Antero. This is expected to result in a $60 million increase in annualized cash flow to Antero, or a $0.04 per Mcfe margin uplift, commencing in the third quarter of 2026.
Cash Cost Reduction Initiative
In June 2026, Antero announced a cash cost reduction initiative. Through this plan, the Company expects to reduce cash costs by $0.70 per Mcfe from full year 2025 to year end 2028. As a result of the lower cost structure, Antero expects to improve EBITDAX margins by $0.35 per Mcfe. These cost reductions and margin enhancements are expected to be driven primarily by the integration of HG Energy, natural gas and liquids firm transportation commitment optimization and increased dry gas development.
Share Repurchase Program
During the quarter, Antero purchased 1.1 million shares for approximately $38 million, for an average weighted price of $34.25 per share. Antero has approximately $880 million of capacity remaining under its share repurchase program.
Natural Gas Hedge Program
The following tables detail Antero's natural gas swap and collar hedge position as of the publication of July 29, 2026. For more information on Antero's hedge portfolio, including basis hedges, please see the presentation titled "Hedges and Guidance Presentation" on the Company's website.
Swaps
Natural Gas
(MMBtu/d)
Weighted
Average
Index Price
($/MMBtu)
July – December 2026 NYMEX Henry Hub Swap
1,390,000
$
3.90
2027 NYMEX Henry Hub Swap
1,000,000
$
3.84
Weighted Average Index
Collars
Natural Gas
(MMBtu/d)
Floor
Price
($/MMBtu)
Ceiling Price
($/MMBtu)
July – December 2026 NYMEX Henry Hub Costless Collars
577,000
$
3.26
$
5.66
2027 NYMEX Henry Hub Costless Collars
80,000
$
3.52
$
4.63
Adjusted Free Cash Flow
During the second quarter of 2026, Adjusted Free Cash Flow before changes in working capital was $220 million.
Three Months Ended
June 30,
2025
2026
Net cash provided by operating activities
$
492,358
438,849
Less: Capital expenditures
(208,409)
(340,716)
Less: Distributions to non-controlling interests in Martica
(21,512)
(7,346)
Plus: Transaction expense
—
1,903
Adjusted Free Cash Flow
$
262,437
92,690
Changes in Working Capital
(106,165)
127,069
Adjusted Free Cash Flow before Changes in Working Capital
$
156,272
219,759
Second Quarter 2026 Financial Results
Net daily natural gas equivalent production in the second quarter averaged 4.1 Bcfe/d, including 216 MBbl/d of liquids. Antero's average realized natural gas price before hedges was $2.66 per Mcf. Antero's average realized C3+ NGL price before hedges was $44.33 per barrel and its C2+ NGL price before hedges was $31.06 per barrel.
The following table details average net production and average realized prices for the three months ended June 30, 2026:
Three Months Ended June 30, 2026
Natural
Gas
(MMcf/d)
Oil
(Bbl/d)
C3+ NGLs
(Bbl/d)
C2 NGLs
(Bbl/d)
Combined
Natural Gas
Equivalent
(MMcfe/d)
Average Net Production
2,847
8,330
121,132
86,769
4,144
Three Months Ended June 30, 2026
Average Realized Prices
Natural
Gas
($/Mcf)
Oil
($/Bbl)
C3+ NGLs
($/Bbl)
C2 NGLs
($/Bbl)
Combined
Natural Gas
Equivalent
($/Mcfe)
Average realized prices before settled derivatives
$
2.66
78.60
44.33
12.54
3.54
Index price (1)
$
2.90
93.00
45.26
8.96
2.90
Premium / (Discount) to Index price
$
(0.24)
(14.40)
(0.93)
3.58
0.64
Settled commodity derivatives
$
0.52
—
(0.01)
—
0.36
Average realized prices after settled derivatives
$
3.18
78.60
44.32
12.54
3.90
Premium / (Discount) to Index price
$
0.28
(14.40)
(0.94)
3.58
1.00
(1)
Please see Antero's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, for more information on these index and average realized prices.
Cash production expense, which includes lease operating, gathering, compression, processing and transportation and production and ad valorem taxes was $2.22 per Mcfe in the second quarter, as compared to $2.48 per Mcfe during the second quarter of 2025. The decrease compared to the prior year reflects a full quarter of the HG Energy assets. Net marketing expense was $0.04 per Mcfe during the second quarter of 2026, compared to $0.06 per Mcfe during the second quarter of 2025.
Operating Results
Antero placed 26 Marcellus wells to sales during the second quarter with an average lateral length of 13,323 feet. 21 of these wells have been online for approximately 60 days with an average rate per well of 25 MMcfe/d, including 975 Bbl/d of liquids per well assuming 25% ethane recovery. In addition, Antero had a number of notable company operating achievements, including:
A 5-well pad which was Antero's first dry gas pad in over 12 years, has been producing at 125 MMcf/d without declines, for over 60 days. Antero estimates the Estimated Ultimate Recovery ("EUR") of these wells will be more than 2.0 Bcf per 1,000 feet, a 70% improvement compared to the 1.2 Bcf per 1,000 feet average EUR when the Company last drilled in this dry gas area. Drilled the longest lateral in company history at over 24,000 feet. This well was located on the recently acquired HG Energy acreage. Second Quarter 2026 Capital Investment
Antero's drilling and completion capital expenditures for the three months ended June 30, 2026 were $297 million. In addition to capital invested in drilling and completion activities, the Company invested $29 million in land during the second quarter. Through this investment, Antero added approximately 5,000 net acres, representing 20 incremental net drilling locations at an average cost of approximately $650,000 per location.
Conference Call
A conference call is scheduled on Thursday, July 30, 2026 at 9:00 am MT to discuss the financial and operational results. A brief Q&A session for security analysts will immediately follow the discussion of the results. To participate in the call, dial in at 877-407-9079 (U.S.), or +1 201-493-6746 (International) and reference "Antero Resources." A telephone replay of the call will be available until Thursday, August 6, 2026 at 9:00 am MT at 877-660-6853 (U.S.) or +1 201-612-7415 (International) using the conference ID: 13758945. To access the live webcast and view the related earnings conference call presentation, visit Antero's website at www.anteroresources.com. The webcast will be archived for replay until Thursday, August 6, 2026 at 9:00 am MT.
Presentation
An updated presentation will be posted to the Company's website before the conference call. The presentation can be found at www.anteroresources.com on the homepage. Information on the Company's website does not constitute a portion of, and is not incorporated by reference into this press release.
Non-GAAP Financial Measures
Adjusted Net Income
Adjusted Net Income as set forth in this release represents net income, adjusted for certain items. Antero believes that Adjusted Net Income is useful to investors in evaluating operational trends of the Company and its performance relative to other oil and gas producing companies. Adjusted Net Income is not a measure of financial performance under GAAP and should not be considered in isolation or as a substitute for net income as an indicator of financial performance. The GAAP measure most directly comparable to Adjusted Net Income is net income. The following table reconciles net income to Adjusted Net Income (in thousands):
Three Months Ended June 30,
2025
2026
Net income and comprehensive income attributable to Antero Resources Corporation
$
156,585
278,657
Net income and comprehensive income attributable to noncontrolling interests
9,988
7,760
Unrealized commodity derivative gains
(59,763)
(26,412)
Amortization of deferred revenue, VPP
(6,298)
(5,860)
Loss (gain) on sale of assets
546
(14,616)
Impairment of property and equipment
6,297
4,455
Equity-based compensation
15,855
13,266
Loss on early extinguishment of debt
729
—
Equity in earnings of unconsolidated affiliate
(30,563)
(29,379)
Contract termination and loss contingency
13,596
1,659
Transaction expense
—
1,903
Tax effect of reconciling items (1)
13,021
12,094
119,993
243,527
Martica adjustments (2)
(9,988)
(7,760)
Adjusted Net Income
$
110,005
235,767
Diluted Weighted Average Common Shares Outstanding
313,184
310,643
(1)
Deferred taxes were approximately 22% for 2025 and 2026.
(2)
Adjustments reflect noncontrolling interests in Martica not otherwise adjusted in amounts above
Net Debt
Net Debt is calculated as total debt less cash and cash equivalents. Management uses Net Debt to evaluate the Company's financial position, including its ability to service its debt obligations.
The following table reconciles consolidated total debt to Net Debt as used in this release (in thousands):
December 31,
2025
June 30,
2026
Commercial paper
$
—
182,000
Credit Facility
438,600
2,700
Term Loan
—
1,100,000
7.625% senior notes due 2029
365,353
—
5.375% senior notes due 2030
600,000
600,000
5.400% senior notes due 2036
—
750,000
Unamortized debt issuance costs
(5,977)
(20,442)
Total debt
$
1,397,976
2,614,258
Less: Cash, cash equivalents and restricted cash
(210,000)
—
Net Debt
$
1,187,976
2,614,258
Adjusted Free Cash Flow
Adjusted Free Cash Flow is a measure of financial performance not calculated under GAAP and should not be considered in isolation or as a substitute for cash flow from operating, investing, or financing activities, as an indicator of cash flow or as a measure of liquidity. The Company defines Adjusted Free Cash Flow as net cash provided by operating activities, less capital expenditures, which includes additions to unproved properties, drilling and completion costs and additions to other property and equipment, less distributions to non-controlling interests in Martica, plus transaction expenses.
The Company has not provided projected net cash provided by operating activities or a reconciliation of Adjusted Free Cash Flow to projected net cash provided by operating activities, the most comparable financial measure calculated in accordance with GAAP. The Company is unable to project net cash provided by operating activities for any future period because this metric includes the impact of changes in operating assets and liabilities related to the timing of cash receipts and disbursements that may not relate to the period in which the operating activities occurred. The Company is unable to project these timing differences with any reasonable degree of accuracy without unreasonable efforts.
Adjusted Free Cash Flow is a useful indicator of the Company's ability to internally fund its activities, service or incur additional debt and estimate our ability to return capital to shareholders. There are significant limitations to using Adjusted Free Cash Flow as a measure of performance, including the inability to analyze the effect of certain recurring and non-recurring items that materially affect the Company's net income, the lack of comparability of results of operations of different companies and the different methods of calculating Adjusted Free Cash Flow reported by different companies. Adjusted Free Cash Flow does not represent funds available for discretionary use because those funds may be required for debt service, land acquisitions and lease renewals, other capital expenditures, working capital, income taxes, exploration expenses, and other commitments and obligations.
Adjusted EBITDAX
Adjusted EBITDAX is a non-GAAP financial measure that we define as net income, adjusted for certain items detailed below.
Adjusted EBITDAX as used and defined by us, may not be comparable to similarly titled measures employed by other companies and is not a measure of performance calculated in accordance with GAAP. Adjusted EBITDAX should not be considered in isolation or as a substitute for operating income or loss, net income or loss, cash flows provided by operating, investing, and financing activities, or other income or cash flow statement data prepared in accordance with GAAP. Adjusted EBITDAX provides no information regarding our capital structure, borrowings, interest costs, capital expenditures, working capital movement, or tax position. Adjusted EBITDAX does not represent funds available for discretionary use because those funds may be required for debt service, capital expenditures, working capital, income taxes, exploration expenses, and other commitments and obligations. However, our management team believes Adjusted EBITDAX is useful to an investor in evaluating our financial performance because this measure:
is widely used by investors in the oil and natural gas industry to measure operating performance without regard to items excluded from the calculation of such term, which may vary substantially from company to company depending upon accounting methods and the book value of assets, capital structure and the method by which assets were acquired, among other factors; helps investors to more meaningfully evaluate and compare the results of our operations from period to period by removing the effect of our capital and legal structure from our operating structure; is used by our management team for various purposes, including as a measure of our operating performance, in presentations to our Board of Directors, and as a basis for strategic planning and forecasting; and is used by our Board of Directors as a performance measure in determining executive compensation. There are significant limitations to using Adjusted EBITDAX as a measure of performance, including the inability to analyze the effects of certain recurring and non-recurring items that materially affect our net income or loss, the lack of comparability of results of operations of different companies, and the different methods of calculating Adjusted EBITDAX reported by different companies.
The GAAP measures most directly comparable to Adjusted EBITDAX are net income and net cash provided by operating activities. The following table represents a reconciliation of Antero's net income, including noncontrolling interest, to Adjusted EBITDAX and a reconciliation of Antero's Adjusted EBITDAX to net cash provided by operating activities per our condensed consolidated statements of cash flows, in each case, for the three months ended June 30, 2025 and 2026 (in thousands). Adjusted EBITDAX also excludes the noncontrolling interests in Martica, and these adjustments are disclosed in the table below as Martica related adjustments.
Three Months Ended June 30,
2025
2026
Reconciliation of net income to Adjusted EBITDAX:
Net income and comprehensive income attributable to Antero Resources Corporation
$
156,585
278,657
Net income and comprehensive income attributable to noncontrolling interests
9,988
7,760
Unrealized commodity derivative (gains) losses
(59,763)
(26,412)
Amortization of deferred revenue, VPP
(6,298)
(5,860)
Loss (gain) on sale of assets
546
(14,616)
Interest expense, net
19,954
37,520
Loss on early extinguishment of debt
729
—
Income tax expense
48,190
78,998
Depletion, depreciation, amortization and accretion
188,531
228,237
Impairment of property and equipment
6,297
4,455
Exploration expense
648
904
Equity-based compensation expense
15,855
13,266
Equity in earnings of unconsolidated affiliate
(30,563)
(29,379)
Dividends from unconsolidated affiliate
31,314
31,314
Contract termination, loss contingency and settlements
13,596
1,659
Transaction expense and other
31
2,037
395,640
608,540
Martica related adjustments (1)
(16,176)
(13,103)
Adjusted EBITDAX
$
379,464
595,437
Reconciliation of our Adjusted EBITDAX to net cash provided by operating activities:
Adjusted EBITDAX
$
379,464
595,437
Martica related adjustments (1)
16,176
13,103
Interest expense, net
(19,954)
(37,520)
Amortization of debt issuance costs and other
356
533
Exploration expense
(648)
(904)
Changes in current assets and liabilities
116,475
(117,274)
Contract termination, loss contingency and settlements
(287)
(10,343)
Transaction expense and other
776
(4,183)
Net cash provided by operating activities
$
492,358
438,849
(1)
Adjustments reflect noncontrolling interests in Martica not otherwise adjusted in amounts above.
Twelve
Months Ended
June 30, 2026
Reconciliation of net income to Adjusted EBITDAX:
Net income and comprehensive income attributable to Antero Resources Corporation
$
1,083,735
Net income and comprehensive income attributable to noncontrolling interests
39,423
Unrealized commodity derivative gains
(355,578)
Amortization of deferred revenue, VPP
(24,391)
Gain on sale of assets
(60,803)
Interest expense, net
114,843
Loss on early extinguishment of debt
6,742
Income tax expense
337,783
Depletion, depreciation, amortization, and accretion
813,284
Impairment of property and equipment
22,846
Exploration
3,370
Equity-based compensation expense
54,811
Equity in earnings of unconsolidated affiliate
(98,757)
Dividends from unconsolidated affiliate
125,255
Contract termination, loss contingency and settlements
29,418
Transaction expense and other
28,954
2,120,935
Martica related adjustments (1)
(61,695)
Adjusted EBITDAX
$
2,059,240
(1)
Adjustments reflect noncontrolling interests in Martica not otherwise adjusted in amounts above.
Drilling and Completion Capital Expenditures
For a reconciliation between cash paid for drilling and completion capital expenditures and drilling and completion accrued capital expenditures during the period, please see the capital expenditures section below (in thousands):
Three Months Ended
June 30,
2025
2026
Drilling and completion costs (cash basis)
$
181,200
307,821
Change in accrued capital costs
(10,531)
(11,319)
Adjusted drilling and completion costs (accrual basis)
$
170,669
296,502
Notwithstanding their use for comparative purposes, the Company's non-GAAP financial measures may not be comparable to similarly titled measures employed by other companies.
This release includes "forward-looking statements." Words such as "may," "assume," "forecast," "position," "predict," "strategy," "expect," "intend," "plan," "estimate," "anticipate," "believe," "project," "budget," "potential," or "continue," "goal," or "target," and similar expressions are used to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements are subject to a number of risks and uncertainties, many of which are not under Antero Resources' control. All statements, except for statements of historical fact, made in this release regarding activities, events or developments Antero Resources expects, believes or anticipates will or may occur in the future, such as those regarding our financial strategy, future operating results, financial position, estimated revenues and losses, our ability to integrate acquired assets and achieve the intended operational, financial and strategic benefits from any such transactions, projected costs, estimated realized natural gas, NGL and oil prices, prospects, plans and objectives of management, return of capital program, expected results, impacts of geopolitical events, including the conflicts in Ukraine, Venezuela and in the Middle East, and world health events, future commodity prices, future production targets, including those related to certain levels of production, future earnings, leverage targets and debt repayment, future capital spending plans, improved and/or increasing capital efficiency, expected drilling and development plans, projected well costs and cost savings initiatives, operations of Antero Midstream, future financial position, the participation level of our drilling partner and the financial and production results to be achieved as a result of that drilling partnership, the other key assumptions underlying our projections, the impact of recently enacted legislation, and future marketing opportunities, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on management's current beliefs, based on currently available information, as to the outcome and timing of future events. All forward-looking statements speak only as of the date of this release. Although Antero Resources believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Except as required by law, Antero Resources expressly disclaims any obligation to and does not intend to publicly update or revise any forward-looking statements.
Antero Resources cautions you that these forward-looking statements are subject to all of the risks and uncertainties, incidental to our business, most of which are difficult to predict and many of which are beyond Antero Resources' control. These risks include, but are not limited to, risks associated with the successful integration and future performance of acquired assets and operations, commodity price volatility, inflation, supply chain or other disruption, availability and cost of drilling, completion and production equipment and services, environmental risks, drilling and completion and other operating risks, marketing and transportation risks, regulatory changes or changes in law, changes in emission calculation methods, the uncertainty inherent in estimating natural gas, NGLs and oil reserves and in projecting future rates of production, cash flows and access to capital, the timing of development expenditures, conflicts of interest among our stockholders, impacts of geopolitical events, including the conflicts in Ukraine, Venezuela and the Middle East, and world health events, cybersecurity risks, the state of markets for, and availability of, verified quality carbon offsets and the other risks described under the heading "Risk Factors" in Antero Resources' Annual Report on Form 10-K for the year ended December 31, 2025 and the Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.
"EUR," or estimated ultimate recovery, refers to our management's estimates of hydrocarbon quantities that may be recovered from a well completed as a producer in the area. These quantities may not necessarily constitute or represent reserves within the meaning of the U.S. Securities and Exchange Commission's oil and natural gas disclosure rules. Actual quantities that may be recovered could differ substantially.
ANTERO RESOURCES CORPORATION
Condensed Consolidated Balance Sheets
(In thousands, except per share amounts)
(Unaudited)
December 31,
June 30,
2025
2026
Assets
Current assets:
Restricted cash
$
210,000
—
Accounts receivable
33,773
25,064
Accrued revenue
473,453
458,197
Derivative instruments
68,913
180,848
Prepaid expenses
14,554
12,807
Current assets held for sale
20,269
—
Other current assets
10,818
16,654
Total current assets
831,780
693,570
Property and equipment:
Oil and gas properties, at cost (successful efforts method):
Unproved properties
796,705
1,124,479
Proved properties
14,049,003
16,976,193
Other property and equipment
113,020
125,054
14,958,728
18,225,726
Less accumulated depletion, depreciation and amortization
Common stock, $0.01 par value; authorized - 1,000,000 shares; 308,510 and 308,739 shares issued and
outstanding as of December 31, 2025 and June 30, 2026, respectively
3,085
3,087
Additional paid-in capital
5,865,447
5,834,394
Retained earnings
1,682,295
2,479,422
Total stockholders' equity
7,550,827
8,316,903
Noncontrolling interests
164,822
—
Total equity
7,715,649
8,316,903
Total liabilities and equity
$
13,245,407
15,232,634
ANTERO RESOURCES CORPORATION
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited)
(In thousands, except per share amounts)
Three Months Ended June 30,
2025
2026
Revenue and other:
Natural gas sales
$
688,753
688,478
Natural gas liquids sales
480,757
587,714
Oil sales
33,700
59,579
Commodity derivative fair value gains
53,409
160,633
Marketing
33,743
56,066
Amortization of deferred revenue, VPP
6,298
5,860
Other revenue and income
833
1,512
Total revenue
1,297,493
1,559,842
Operating expenses:
Lease operating
37,244
48,148
Gathering, compression, processing and transportation
701,722
748,181
Production and ad valorem taxes
34,830
37,535
Marketing
51,988
72,059
Exploration
648
904
General and administrative (including equity-based compensation expense of $15,855 and
$13,266 in 2025 and 2026, respectively)
57,183
57,795
Depletion, depreciation and amortization
187,589
227,254
Impairment of property and equipment
6,297
4,455
Accretion of asset retirement obligations
942
983
Contract termination, loss contingency and settlements
13,596
1,659
Loss (gain) on sale of assets
546
(14,616)
Other operating expense
25
26
Total operating expenses
1,092,610
1,184,383
Operating income
204,883
375,459
Other income (expense):
Interest expense, net
(19,954)
(37,520)
Equity in earnings of unconsolidated affiliate
30,563
29,379
Loss on early extinguishment of debt
(729)
—
Transaction expense
—
(1,903)
Total other income (expense)
9,880
(10,044)
Income before income taxes
214,763
365,415
Income tax expense
(48,190)
(78,998)
Net income and comprehensive income including noncontrolling interests
166,573
286,417
Less: net income and comprehensive income attributable to noncontrolling interests
9,988
7,760
Net income and comprehensive income attributable to Antero Resources Corporation
$
156,585
278,657
Net income per common share—basic
$
0.50
0.90
Net income per common share—diluted
$
0.50
0.90
Weighted average number of common shares outstanding:
Basic
310,323
309,712
Diluted
313,184
310,643
ANTERO RESOURCES CORPORATION
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
Six Months Ended June 30,
2025
2026
Cash flows provided by (used in) operating activities:
Net income including noncontrolling interests
$
386,039
834,630
Adjustments to reconcile net income to net cash provided by operating activities:
Depletion, depreciation, amortization and accretion
375,822
435,539
Impairment of property and equipment
11,915
5,403
Commodity derivative fair value losses (gains)
18,262
(195,656)
Losses on settled commodity derivatives
(17,371)
(30,914)
Deferred income tax expense
102,475
220,675
Equity-based compensation expense
31,000
24,999
Equity in earnings of unconsolidated affiliate
(59,224)
(59,497)
Dividends of earnings from unconsolidated affiliate
62,628
62,628
Amortization of deferred revenue
(12,528)
(11,655)
Amortization of debt issuance costs and other
823
953
Settlement of asset retirement obligations
(71)
(110)
Contract termination, loss contingency and settlements
12,001
2,153
Gain on sale of assets
(29)
(60,566)
Loss on early extinguishment of debt
3,628
6,742
Changes in current assets and liabilities:
Accounts receivable
2,763
8,721
Accrued revenue
85,718
31,866
Prepaid expenses and other current assets
(8,382)
10,832
Accounts payable including related parties
(15,139)
23,815
Accrued liabilities
(85,528)
(39,486)
Revenue distributions payable
48,121
41,811
Other current liabilities
7,174
(14,976)
Net cash provided by operating activities
950,097
1,297,907
Cash flows provided by (used in) investing activities:
Additions to unproved properties
(56,640)
(45,551)
Drilling and completion costs
(356,334)
(492,372)
Additions to other property and equipment
(1,580)
(8,894)
Acquisition of HG Production
—
(2,803,195)
Acquisitions of oil and gas properties
—
(7,631)
Proceeds from asset sales
11,522
756,986
Change in other assets
(2,348)
(24,066)
Net cash used in investing activities
(405,380)
(2,624,723)
Cash flows provided by (used in) financing activities:
Issuances and borrowings of debt
2,291,800
5,521,550
Repayments of debt.
(2,686,733)
(4,295,447)
Repurchases of common stock
(84,966)
(37,890)
Payment of debt issuance costs
—
(10,838)
Distributions to noncontrolling interests in Martica Holdings LLC
(37,481)
(24,996)
Employee tax withholding for settlement of equity-based compensation awards
(26,618)
(34,906)
Other
(719)
(657)
Net cash provided by (used in) financing activities
(544,717)
1,116,816
Net decrease in cash, cash equivalents and restricted cash
—
(210,000)
Cash, cash equivalents and restricted cash, beginning of period
—
210,000
Cash, cash equivalents and restricted cash, end of period
$
—
—
Supplemental disclosure of cash flow information:
Cash paid during the period for interest
$
48,043
69,988
Increase (decrease) in accounts payable, accrued liabilities and other current liabilities for additions to property
and equipment
$
(29,581)
34,482
In-kind liquidating distribution to noncontrolling interests
$
—
160,583
The following table sets forth selected financial data for the three months ended June 30, 2025 and 2026 (in thousands):
(Unaudited)
Three Months Ended
Amount of
June 30,
Increase
Percent
2025
2026
(Decrease)
Change
Revenue and other:
Natural gas sales
$
688,753
688,478
(275)
*
Natural gas liquids sales
480,757
587,714
106,957
22
%
Oil sales
33,700
59,579
25,879
77
%
Commodity derivative fair value gains
53,409
160,633
107,224
201
%
Marketing
33,743
56,066
22,323
66
%
Amortization of deferred revenue, VPP
6,298
5,860
(438)
(7)
%
Other revenue and income
833
1,512
679
82
%
Total revenue
1,297,493
1,559,842
262,349
20
%
Operating expenses:
Lease operating
37,244
48,148
10,904
29
%
Gathering and compression
236,830
270,225
33,395
14
%
Processing
284,040
292,745
8,705
3
%
Transportation
180,852
185,211
4,359
2
%
Production and ad valorem taxes
34,830
37,535
2,705
8
%
Marketing
51,988
72,059
20,071
39
%
Exploration
648
904
256
40
%
General and administrative (excluding equity-based compensation)
41,328
44,529
3,201
8
%
Equity-based compensation
15,855
13,266
(2,589)
(16)
%
Depletion, depreciation and amortization
187,589
227,254
39,665
21
%
Impairment of property and equipment
6,297
4,455
(1,842)
(29)
%
Accretion of asset retirement obligations
942
983
41
4
%
Contract termination, loss contingency and settlements
13,596
1,659
(11,937)
(88)
%
Loss (gain) on sale of assets
546
(14,616)
(15,162)
*
Other operating expense
25
26
1
4
%
Total operating expenses
1,092,610
1,184,383
91,773
8
%
Operating income
204,883
375,459
170,576
83
%
Other income (expenses):
Interest expense, net
(19,954)
(37,520)
(17,566)
88
%
Equity in earnings of unconsolidated affiliate
30,563
29,379
(1,184)
(4)
%
Loss on early extinguishment of debt
(729)
—
729
*
Transaction expenses
—
(1,903)
(1,903)
*
Total other income (expense)
9,880
(10,044)
(19,924)
*
Income before income taxes
214,763
365,415
150,652
70
%
Income tax expense
(48,190)
(78,998)
(30,808)
64
%
Net income and comprehensive income including noncontrolling interests
166,573
286,417
119,844
72
%
Less: net income and comprehensive income attributable to noncontrolling
interests
9,988
7,760
(2,228)
(22)
%
Net income and comprehensive income attributable to Antero Resources
Corporation
$
156,585
278,657
122,072
78
%
Adjusted EBITDAX
$
379,464
595,437
215,973
57
%
* Not meaningful
The following table sets forth selected operating data for the three months ended June 30, 2025 and 2026:
Three Months Ended
Amount of
June 30,
Increase
Percent
2025
2026
(Decrease)
Change
Production data (1) (2):
Natural gas (Bcf)
203
259
56
28
%
C2 Ethane (MBbl)
6,924
7,896
972
14
%
C3+ NGLs (MBbl)
10,608
11,023
415
4
%
Oil (MBbl)
672
758
86
13
%
Combined (Bcfe)
312
377
65
21
%
Daily combined production (MMcfe/d)
3,430
4,144
714
21
%
Average prices before effects of derivative settlements (3):
Natural gas (per Mcf)
$
3.39
2.66
(0.73)
(22)
%
C2 Ethane (per Bbl) (4)
$
11.34
12.54
1.20
11
%
C3+ NGLs (per Bbl)
$
37.92
44.33
6.41
17
%
Oil (per Bbl)
$
50.15
78.60
28.45
57
%
Weighted Average Combined (per Mcfe)
$
3.85
3.54
(0.31)
(8)
%
Average realized prices after effects of derivative settlements (3):
Natural gas (per Mcf)
$
3.36
3.18
(0.18)
(5)
%
C2 Ethane (per Bbl) (4)
$
11.34
12.54
1.20
11
%
C3+ NGLs (per Bbl)
$
37.92
44.32
6.40
17
%
Oil (per Bbl)
$
50.15
78.60
28.45
57
%
Weighted Average Combined (per Mcfe)
$
3.83
3.90
0.07
2
%
Average costs (per Mcfe):
Lease operating
$
0.12
0.13
0.01
8
%
Gathering and compression
$
0.76
0.72
(0.04)
(5)
%
Processing
$
0.91
0.78
(0.13)
(14)
%
Transportation
$
0.58
0.49
(0.09)
(16)
%
Production and ad valorem taxes
$
0.11
0.10
(0.01)
(9)
%
Marketing expense, net
$
0.06
0.04
(0.02)
(33)
%
General and administrative (excluding equity-based compensation)
$
0.13
0.12
(0.01)
(8)
%
Depletion, depreciation, amortization and accretion
$
0.60
0.61
0.01
2
%
*
Not meaningful
(1)
Production data excludes volumes related to VPP transaction.
(2)
Oil and NGLs production was converted at 6 Mcf per Bbl to calculate total Bcfe production and per Mcfe amounts. This ratio is an estimate of the equivalent energy content of the products and may not reflect their relative economic value.
(3)
Average prices reflect the before and after effects of our settled commodity derivatives. Our calculation of such after effects includes gains (losses) on settlements of commodity derivatives, which do not qualify for hedge accounting because we do not designate or document them as hedges for accounting purposes.
(4)
The average realized price for the three months ended June 30, 2025 includes $0.5 million of proceeds related to a take-or-pay contract. Excluding the effect of these proceeds, the average realized price for ethane before and after the effects of derivatives for the three months ended June 30, 2025 would have been $11.27 per Bbl.
First Trust Advisors LP increased its position in Antero Resources Corporation (NYSE:AR – Free Report) by 124.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,765,305 shares of the oil and natural gas company’s stock after buying an additional 980,039 shares during the quarter. First Trust Advisors LP owned about 0.57% of Antero Resources worth $74,920,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. purchased a new position in shares of Antero Resources in the 3rd quarter worth about $30,000. IFP Advisors Inc lifted its stake in shares of Antero Resources by 59.2% in the 3rd quarter. IFP Advisors Inc now owns 928 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 345 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Antero Resources during the 4th quarter worth about $41,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Antero Resources during the 4th quarter worth about $44,000. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new stake in Antero Resources during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 83.04% of the company’s stock.
Insider Activity at Antero Resources In other news, insider Yvette K. Schultz sold 39,490 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $39.27, for a total transaction of $1,550,772.30. Following the transaction, the insider directly owned 277,665 shares of the company’s stock, valued at approximately $10,903,904.55. The trade was a 12.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael N. Kennedy sold 185,826 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $39.33, for a total transaction of $7,308,536.58. Following the transaction, the insider directly owned 1,085,192 shares in the company, valued at approximately $42,680,601.36. The trade was a 14.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth Several research analysts recently commented on AR shares. Bank of America raised their price target on shares of Antero Resources from $39.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Williams Trading set a $56.00 price objective on shares of Antero Resources in a research note on Monday, April 20th. Zacks Research lowered shares of Antero Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Morgan Stanley cut their target price on shares of Antero Resources from $56.00 to $48.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Finally, UBS Group reduced their target price on shares of Antero Resources from $56.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Antero Resources has an average rating of “Moderate Buy” and an average target price of $48.56.
View Our Latest Analysis on AR
Antero Resources Price Performance AR stock opened at $35.31 on Friday. The firm has a market cap of $10.94 billion, a P/E ratio of 11.46 and a beta of 0.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.40 and a current ratio of 0.40. Antero Resources Corporation has a 1 year low of $29.10 and a 1 year high of $45.75. The stock has a 50-day simple moving average of $35.12 and a 200-day simple moving average of $36.31.
About Antero Resources (Free Report)
Antero Resources Corporation is an independent exploration and production company focused on the development of natural gas, natural gas liquids (NGLs) and oil properties in the Appalachian Basin of the United States. The company’s operations target the Marcellus and Utica shales, where it applies advanced drilling and completion techniques to optimize recovery from its large acreage position. Antero’s portfolio encompasses significant reserves of ethane, propane and other NGLs, alongside dry gas volumes that are positioned to serve both domestic and export markets.
Headquartered in Denver, Colorado, Antero Resources holds approximately 1.8 million net acres of leasehold interests across parts of West Virginia and Ohio.
Featured Stories Five stocks we like better than Antero Resources Telecom Earnings Reveal a Sector That Finally Looks Healthier Defense Earnings Show Readiness Now and Modernization Ahead Why Palantir Investors Aren’t Panicking While the Rest of AI Sells Off MarketBeat Week in Review – 07/20- 07/24 Want to see what other hedge funds are holding AR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Antero Resources Corporation (NYSE:AR – Free Report).
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Antero Resources (AR - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on July 29, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis oil and natural gas producer is expected to post quarterly earnings of $0.77 per share in its upcoming report, which represents a year-over-year change of +120%.
Revenues are expected to be $1.5 billion, up 15.9% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 12.5% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Antero Resources?For Antero Resources, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Antero Resources will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Antero Resources would post earnings of $1.22 per share when it actually produced earnings of $1.15, delivering a surprise of -5.74%.
The company has not been able to beat consensus EPS estimates in any of the last four quarters.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Antero Resources doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Antero Resources (NYSE:AR | AR Price Prediction) has quietly become one of the most strategically attractive assets in U.S. energy. The Appalachian pure-play carries a market cap of roughly $10.3 billion, trades at 11x trailing earnings and an EV/EBITDA of 7.05, yet delivered record production of 3.9 billion cubic feet equivalent per day (Bcfe/d) in Q1, up 13% year over year, with free cash flow of $657 million.
CEO Michael Kennedy laid out the takeover pitch himself: “We have the highest LNG exposure among Appalachian producers, selling 2.3 Bcf per day of production to sales points along the LNG fairway” and “we are the largest producer-exporter of NGLs in the U.S.” With Henry Hub spot at just $3.44 per million British thermal units (MMBtu), Antero still realized $5.57 per million cubic feet (Mcf) on gas, proof of premium export capture. Shares are down 7.9% over the past year to $33.35, well below the analyst target of $48.75. Insiders have been net sellers, with CFO-connected executives disposing of shares near $39 in May.
Ranking the Likely Acquirers, Weakest Case First 4. Chevron: The Longest Shot Chevron (NYSE:CVX) has the balance sheet at a $366.2 billion market cap, and it recently completed the acquisition of Hess. Its Permian and deepwater focus makes Appalachian gas a stretch, though a Microsoft data-center power joint venture offers only a tenuous strategic link. Antitrust would be easy; strategic fit is the problem.
3. TotalEnergies: Global LNG Trader Angle TotalEnergies (NYSE:TTE) grew integrated liquefied natural gas (LNG) sales 10% to 43.9 metric tonnes (Mt) and signed onto Rio Grande LNG Train 4. Antero’s export-linked barrels would feed the French supermajor’s global book. Scrutiny from the Committee on Foreign Investment in the United States (CFIUS) and cultural fit are the main drags.
2. ConocoPhillips: The Serial Acquirer ConocoPhillips (NYSE:COP), fresh off Marathon Oil integration and targeting $7 billion incremental FCF by 2029, holds 10 MTPA of Port Arthur LNG offtake. Antero’s Gulf-linked gas would plug directly into that portfolio, and COP has proven M&A muscle.
1. EQT: The Obvious Buyer EQT (NYSE:EQT) is the largest U.S. gas producer at a $30.8 billion market cap, trading at 4.82 EV/EBITDA. CEO Toby Rice has told investors, “accelerating power demand growth in the United States, particularly in Appalachia, is creating incremental opportunities in our backyard.” Geographic overlap, shared LNG contracting, and EQT’s $1.83 billion Q1 free cash flow make this the cleanest fit. Antitrust review would be the main hurdle.
Where Private Equity Fits Energy-focused private equity firms (EnCap, NGP, Quantum, Blackstone Energy) could bid, but a $10 billion public E&P with an investment-grade credit profile and integrated midstream operations exceeds typical PE sweet spots. PE ranks below Chevron: strategic synergies cannot match EQT’s, and financing costs erode the arbitrage. Keep an eye on the stock as consolidation logic tightens across Appalachia.
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Antero Resources (NYSE: AR) ("Antero" or the "Company") today announced that the Company plans to issue its second quarter 2026 earnings release on Wednesday, July 29, 2026 after the close of trading on the New York Stock Exchange.
A conference call is scheduled on Thursday, July 30, 2026 at 9:00 am MT to discuss the financial and operational results. A brief Q&A session for security analysts will immediately follow the discussion of the results. To participate in the call, dial in at 877-407-9079 (U.S.), or +1 201-493-6746 (International) and reference "Antero Resources." A telephone replay of the call will be available until Thursday, August 6, 2026 at 9:00 am MT at 877-660-6853 (U.S.) or +1 201-612-7415 (International) using the conference ID: 13758945. To access the live webcast and view the related earnings conference call presentation, visit Antero's website at www.anteroresources.com. The webcast will be archived for replay until Thursday, August 6, 2026 at 9:00 am MT.
Antero Resources is an independent natural gas and natural gas liquids company engaged in the acquisition, development and production of unconventional properties located in the Appalachian Basin in West Virginia. In conjunction with its affiliate, Antero Midstream (NYSE: AM), Antero is one of the most integrated natural gas producers in the U.S. The Company's website is located at www.anteroresources.com.
Key Takeaways Natural gas may overtake oil as rising electricity demand changes the U.S. energy mix.LNG exports are creating another growth market for U.S. natural gas producers and infrastructure firms.LNG, AR and GPOR give investors different ways to track natural gas demand growth. Natural gas is moving closer to becoming America’s largest energy source, ending decades of oil dominance. The shift is not about oil disappearing. It is about gas becoming more important as the country uses more electricity and looks for reliable fuel to support homes, businesses, factories and the power grid.
Investors looking to follow this trend may want to keep an eye on Cheniere Energy (LNG - Free Report) , Antero Resources (AR - Free Report) and Gulfport Energy (GPOR - Free Report) .
Why Natural Gas Is Gaining Ground
For years, petroleum held the top spot in the U.S. energy mix because transportation depended heavily on gasoline and diesel. That picture is changing. Gasoline demand has flattened, while electricity demand is rising from several directions, including data centers, electric vehicles and wider electrification across the economy.
Bloomberg recently reported that natural gas is likely to surpass oil as the top U.S. energy source by the end of the decade. EQT Corporation CEO Toby Rice told Bloomberg that the crossover could happen within the next couple of years, with natural gas building a wider lead over petroleum by 2030.
Natural gas sits at the center of this change because it is widely available in the United States and can be used to generate electricity on a large scale. It has replaced coal in many power plants because it is cleaner-burning than coal and often more economical for utilities.
The Power Grid Needs Flexible Fuel
Wind and solar energy are expanding rapidly, but they cannot generate electricity continuously. Solar panels stop producing power after sunset, and wind turbines depend on weather conditions. Natural gas power plants can quickly increase or reduce electricity generation, making them an important complement to renewable energy.
This flexibility is becoming more important as electricity demand continues to grow. AI data centers require a constant and reliable power supply, while the growing use of electric vehicles is increasing overall electricity consumption. As the power grid faces greater demand, natural gas plays an important role in providing reliable backup power and supporting a stable electricity supply.
LNG Adds Another Growth Angle
The natural gas story is not limited to domestic power plants. The United States has become a major exporter of liquefied natural gas, or LNG, which is natural gas cooled into liquid form so it can be shipped overseas. Global buyers use LNG to heat homes, run factories and generate electricity.
This export demand gives U.S. natural gas producers and infrastructure companies another market beyond domestic consumption. If shipments grow as expected, LNG could become a major driver of natural gas demand through the end of the decade.
What Investors Should Watch
The outlook for natural gas is encouraging, but it is not without risks. Natural gas prices can change quickly because of factors such as weather, production levels, storage inventories, pipeline availability and global demand.
Government policies and the continued growth of renewable energy could also influence long-term demand. Even so, one trend appears clear: as the United States relies more on electricity to power homes, businesses, AI data centers and electric vehicles, natural gas is expected to remain an important part of the energy mix.
3 Stocks to Focus On
For investors looking to benefit from this trend, Cheniere Energy, Antero Resources and Gulfport Energy are three companies that may be worth considering. Each offers a different way to gain exposure to the growing role of natural gas, although investors should evaluate each company's fundamentals before making an investment decision.
Cheniere Energy: It is a leading U.S. LNG producer and exporter, operating large-scale facilities along the Gulf Coast. Since starting exports in 2016, it has grown into the largest LNG producer in the United States, supplying customers across more than 40 global markets with reliable and cleaner-burning energy.
Backed by firm gas supply agreements for its Sabine Pass and Corpus Christi facilities, the company enjoys strong cash flow visibility and solid long-term growth prospects. Cheniere Energy beat the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other. It has a trailing four-quarter earnings surprise of roughly 75%, on average. Currently, Cheniere Energy carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Antero Resources: It is an independent energy producer focused on natural gas and liquids in the Appalachian Basin. Headquartered in Denver, this company, with a Zacks Rank of 3, develops low-cost assets in the Marcellus and Utica shales, holding about 515,000 net acres. Antero Resources’ production mix is weighted toward natural gas and NGLs, with minimal oil exposure. AR is also one of the largest U.S. suppliers of natural gas and LPG to export markets.
Antero Resources is supported by its midstream affiliate, Antero Midstream, in which it owns roughly 29%. This integrated setup secures transportation and market access from Appalachia to the Gulf Coast. A low debt profile and steady drilling results provide flexibility and support long-term growth. The Zacks Consensus Estimate for Antero Resources’ 2026 earnings per share indicates a 160.2% year-over-year surge.
Gulfport Energy: Gulfport Energy is a natural gas-weighted E&P company with core operations in the Utica and Marcellus shales, complemented by SCOOP assets. Its portfolio emphasizes low-breakeven, high-return drilling inventory and diversified takeaway capacity to premium markets, including Gulf Coast LNG demand. The firm, currently a #3 Ranked stock, focuses on disciplined capital allocation, operational efficiency, and expanding inventory through acquisitions and delineation.
The Zacks Consensus Estimate for the company’s 2026 earnings per share indicates 28.7% year-over-year growth. Gulfport Energy has a market capitalization of around $3 billion.
Geopolitical instability, particularly the unresolved Iranian situation, is driving higher and more volatile oil and gas prices for the foreseeable future. Comstock Resources (CRK), Antero Resources (AR), Exxon Mobil (XOM), Crescent Energy, Vaalco Energy (EGY), and Meren Energy (MRNFF) are highlighted as strong buy or long-term opportunities. XOM's Guyana expansion could contribute up to 10% of company production by 2030.
NEW YORK--(BUSINESS WIRE)--Perfect Corp. (NYSE: PERF), the global leader in AI and augmented reality (AR) beauty technology, today announced the expansion of its YouCam API platform to feature the industry's most comprehensive AI Hair & Beard API portfolio. With 11 dedicated hair and beard APIs now available, Perfect Corp. is the only provider on the market to offer a complete suite spanning both virtual try-on and AI-powered hair diagnostics in a single, developer-ready integration. Settin.
Perfect Corp. Launches Industry's Most Comprehensive AI Hair & Beard API Suite, Combining Virtual Try-On with Intelligent Hair Analysis Perfect Corp. (NYSE: PERF), the global leader in AI and augmented reality (AR) beauty technology, today announced the expansion of its YouCam API platform to feature the industry’s most comprehensive AI Hair & Beard API portfolio. With 11 dedicated hair and beard APIs now available, Perfect Corp. is the only provider on the market to offer a complete suite spanning both virtual try-on and AI-powered hair diagnostics in a single, developer-ready integration.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260616828286/en/
Perfect Corp. Launches Industry’s Most Comprehensive AI Hair & Beard API Suite, Combining Virtual Try-On with Intelligent Hair Analysis
Setting a New Standard in Hair Intelligence
As consumer demand for hyper-personalized beauty experiences accelerates across e-commerce, haircare, and wellness platforms, brands and developers are under pressure to deliver intelligent hair features at scale — without building proprietary AI from scratch. The YouCam API Hair & Beard suite directly addresses this gap, enabling any platform to integrate sophisticated hair intelligence in days, not months.
“Hair is one of the most personal and emotionally significant aspects of appearance, yet it has been dramatically underserved by the developer API ecosystem,” said Alice Chang, CEO and Founder of Perfect Corp. “With 11 purpose-built APIs covering everything from hairstyle try-on to frizz detection, we’re giving developers the most powerful and complete hair intelligence toolkit available anywhere — fully production-ready and accessible from day one.”
The Most Complete Hair & Beard API Portfolio on the Market
Virtual Try-On & Style Simulation (7 APIs): AI Hair Color Virtual Try-On with unlimited color options; AI Hairstyle Virtual Try-On supporting short cuts, wolf cuts, pixie cuts, and more; AI Hair Extension Virtual Try-On across lengths, styles, colors, and bangs; AI Bangs Filter Virtual Try-On for previewing curtain bangs, fringe, and short or long hair with bangs; AI Hair Volume Virtual Try-On for enhancing fullness and thickness in any photo; AI Wavy Hair Virtual Try-On simulating beach waves, soft curls, and bold voluminous styles; and AI Beard Style Generator for visualizing beard shapes and lengths in real time. AI Hair Diagnostics & Analysis (4 APIs): AI Hair Type Detection for classifying straight, wavy, curly, and kinky hair; AI Hair Length Detection for automated measurement from a photo; AI Hair Frizziness Detection across four distinct grades; and AI Hair Density Detection categorizing scalp exposure and hair distribution into four density grades. No other API platform combines styling simulation and diagnostic intelligence under a single integration.
AI-Native: Built for the Agentic Era
All YouCam APIs support native Model Context Protocol (MCP), enabling direct integration into AI agents and LLM-powered workflows — including Claude and Cursor — with no complex documentation overhead. Developers can obtain a free API key and begin testing immediately via the YouCam API Playground.
To learn more about YouCam API Hair & Beard solutions, please visit: https://yce.perfectcorp.com/ai-api
About Perfect Corp.
Perfect Corp. (NYSE: PERF) is a global leader in AI and AR technology, redefining creativity across beauty, fashion, skincare, and digital content creation. Its YouCam suite of apps has been downloaded over 1.1 billion times globally, empowering users to create, edit, and express themselves through photo, video, and generative AI tools. The YouCam platform also includes a powerful web-based editor and a suite of developer APIs, providing creators, brands, and technology partners with seamless access to content creation capabilities across platforms.
For brands and professionals, Perfect Corp. offers an award-winning portfolio of enterprise technologies, including virtual try-on experiences for makeup, hair, jewelry, watches, and fashion accessories, as well as AI-powered skin and hair analysis.
With a brand portfolio that includes YouCam and Skincare Pro, and a network of over 800 global brand partners, Perfect Corp. is transforming the beauty experience through personalized, immersive, and intelligent innovation.
For more information, visit perfectcorp.com and follow @Perfect-Corp.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260616828286/en/
Here are three stocks with buy ranks and strong growth characteristics for investors to consider today May 6th:
Five Below, Inc. (FIVE - Free Report) : This specialty value chain retailer, that provides a wide range of premium quality and trendy merchandise for $5 or below, carries a Zacks Rank #1 (Strong Buy), and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 14.6% over the last 60 days.
Five Below has a PEG ratio of 1.74 compared with 2.46 for the industry. The company possesses a Growth Score of A.
Fomento Economico Mexicano (FMX - Free Report) : This company, which operates as a franchise bottler of Coca-Cola trademark beverages worldwide, carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.8% over the last 60 days.
Fomento Economico Mexicano has a PEG ratio of 0.83 compared with 1.47 for the industry. The company possesses a Growth Score of A.
Antero Resources (AR - Free Report) : This independent explorer, which is primarily engaged in the acquisition and development of natural gas, natural gas liquids and oil resources in the Appalachian Basin, carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 32.9% over the last 60 days.
Antero Resources has a PEG ratio of 0.36 compared with 1.23 for the industry. The company possesses a Growth Score of B.
See the full list of top ranked stocks here.
Learn more about the Growth score and how it is calculated here.
Snap SNAP saw its stock decline after releasing its Q1 earnings, despite exceeding earnings per share (EPS) expectations and reporting steady revenue and user growth. Investors are concerned about the slowing advertising momentum, ongoing weaknesses in North American advertising, restructuring costs, and conservative guidance for Q2. However, the quarter showcased significant advancements in revenue diversification, profitability, AI-driven monetization efforts, and subscription growth.
Q1 revenue increased by 12.2% year-over-year to $1.53 billion, aligning with consensus estimates. Adjusted EBITDA more than doubled to $233 million, while the net loss improved to $89 million. Free cash flow reached $286 million, with EBITDA flow-through at 75%, indicating enhanced profitability and cost management. Global Daily Active Users (DAUs) rose 5% year-over-year to 483 million, surpassing expectations, with Monthly Active Users (MAUs) reaching 956 million. Engagement metrics remained robust, with Spotlight posters up nearly 74% in the U.S. and total Spotlight viewing time increasing by 11%. Average Revenue Per User (ARPU) grew by 7% year-over-year to $3.17. However, advertising revenue saw a modest increase of 3% to $1.24 billion, impacted by challenges among large North American advertisers and geopolitical issues in the Middle East. Demand from small and medium-sized businesses (SMBs) and lower-funnel ad products continued to drive growth. Snap made strides in enhancing its AI-powered advertising platform, with Dynamic Product Ads revenue surging over 30%. Nearly 70% of ad spend is now utilizing AI-driven automation tools, while Sponsored Snaps and AI Sponsored Snaps are emerging as important revenue sources. Revenue from "Other Revenue," primarily from Snapchat+ subscriptions, soared 87% year-over-year to $285 million. Management noted strong growth from Memories Storage, Lens+, and AI-powered premium tools as key contributors to long-term ARPU and recurring revenue. Gross margin improved by 300 basis points year-over-year to 57%, with operating expense growth limited to 2%. Snap announced a 16% workforce reduction, expected to cut annual costs by over $500 million in the second half of 2026, although restructuring charges of $95-$130 million will affect Q2 results. Snap ended its partnership with Perplexity AI to focus on developing its internal AI monetization tools and expanded its collaboration with Qualcomm Technologies QCOM to advance future Specs smart glasses development. For Q2, Snap guided revenue between $1.52 billion and $1.55 billion, roughly in line with consensus, and adjusted EBITDA between $175 million and $200 million. Management noted improving trends in North American advertising and stronger upfront commitments, though challenges from the Middle East persist.This quarter demonstrated stronger operational performance than the stock's reaction suggests. Snap is evolving beyond a purely ad-driven platform, with subscriptions, AI monetization, and augmented reality (AR) initiatives becoming increasingly significant growth drivers. The momentum from Snapchat+, improved ad platform efficiency, and expanding margins indicate a structurally stronger business. While weak demand from large advertisers in North America and conservative Q2 guidance remain concerns, the overall trajectory points towards a more diversified, profitable, and cash-generative Snap over time.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Here are three stocks with buy ranks and strong growth characteristics for investors to consider today May 8th:
Fomento Economico Mexicano (FMX - Free Report) : This company, which operates as a franchise bottler of Coca-Cola trademark beverages worldwide, carries a Zacks Rank #1 (Strong Buy), and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.8% over the last 60 days.
Fomento Economico Mexicano has a PEG ratio of 0.84 compared with 1.44 for the industry. The company possesses a Growth Score of A.
Antero Resources (AR - Free Report) : This independent explorer, which is primarily engaged in the acquisition and development of natural gas, natural gas liquids and oil resources in the Appalachian Basin, carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 32.9% over the last 60 days.
Antero Resources has a PEG ratio of 0.34 compared with 1.17 for the industry. The company possesses a Growth Score of B.
DaVita (DVA - Free Report) : This company, which is a leading provider of dialysis services in the U.S. to patients suffering from chronic kidney failure, also known as end-stage renal disease (ESRD), carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 0.8% over the last 60 days.
DaVita has a PEG ratio of 0.67 compared with 2.36 for the industry. The company possesses a Growth Score of B.
See the full list of top ranked stocks here.
Learn more about the Growth score and how it is calculated here.
A downtrend has been apparent in Antero Resources (AR - Free Report) lately. While the stock has lost 7.4% over the past week, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support.
The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case for the stock. On the fundamental side, strong agreement among Wall Street analysts in raising earnings estimates for this oil and natural gas producer enhances its prospects of a trend reversal.
Understanding Hammer Chart and the Technique to Trade ItThis is one of the popular price patterns in candlestick charting. A minor difference between the opening and closing prices forms a small candle body, and a higher difference between the low of the day and the open or close forms a long lower wick (or vertical line). The length of the lower wick being at least twice the length of the real body, the candle resembles a 'hammer.'
In simple terms, during a downtrend, with bears having absolute control, a stock usually opens lower compared to the previous day's close, and again closes lower. On the day the hammer pattern is formed, maintaining the downtrend, the stock makes a new low. However, after eventually finding support at the low of the day, some amount of buying interest emerges, pushing the stock up to close the session near or slightly above its opening price.
When it occurs at the bottom of a downtrend, this pattern signals that the bears might have lost control over the price. And, the success of bulls in stopping the price from falling further indicates a potential trend reversal.
Hammer candles can occur on any timeframe -- such as one-minute, daily, weekly -- and are utilized by both short-term as well as long-term investors.
Like every technical indicator, the hammer chart pattern has its limitations. Particularly, as the strength of a hammer depends on its placement on the chart, it should always be used in conjunction with other bullish indicators.
Here's What Makes the Trend Reversal More Likely for ARAn upward trend in earnings estimate revisions that AR has been witnessing lately can certainly be considered a bullish indicator on the fundamental side. That's because empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
Over the last 30 days, the consensus EPS estimate for the current year has increased 2.9%. What it means is that the sell-side analysts covering AR are majorly in agreement that the company will report better earnings than they predicted earlier.
If this is not enough, you should note that AR currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. And stocks carrying a Zacks Rank #1 or 2 usually outperform the market. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Moreover, a Zacks Rank of 1 for Antero Resources is a more conclusive indication of a potential trend reversal, as the Zacks Rank has proven to be an excellent timing indicator that helps investors identify precisely when a company's prospects are beginning to improve.
Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, May 12:
Antero Resources Corporation (AR - Free Report) : This independent oil and natural gas company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 30.2% over the last 60 days.
Antero has a PEG ratio of 0.32 compared with 0.84 for the industry. The company possesses a Growth Score of B.
DaVita Inc. (DVA - Free Report) : This dialysis services company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.4% over the last 60 days.
DaVita has a PEG ratio of 0.65 compared with 2.43 for the industry. The company possesses a Growth Score of B.
Petco Health and Wellness Company, Inc. (WOOF - Free Report) : This pet specialty retailer carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 35.7% over the last 60 days.
Petco Health has a PEG ratio of 1.34 compared with 2.53 for the industry. The company possesses a Growth Score of A.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Learn more about the Growth score and how it is calculated here.
