$Antero Midstream Corporation(AM)$
Third quarter 2022 earnings: EPS and revenues miss analyst expectations
Third quarter 2022 results:
◈EPS: US$0.18 (down from US$0.19 in 3Q 2021).
◈Revenue: US$248.7m (up 2.6% from 3Q 2021).
◈Net income: US$84.0m (down 5.8% from 3Q 2021).
◈Profit margin: 34% (down from 37% in 3Q 2021). The decrease in margin was driven by higher expenses.
Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) also missed analyst estimates by 6.8%.
Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 5.4% decline forecast for the Oil and Gas industry in the US.
Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.
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