Antero Resources (NYSE: AR) reported Q1 EPS of $0.12, $0.10 better than the analyst estimate of $0.02. Revenue for the quarter came in at $1.12 billion versus the consensus estimate of $1.06 billion.

GUIDANCE

Antero is increasing its full year 2024 production guidance to 3.35 to 3.4 Bcfe/d, an increase at the midpoint of approximately 25 MMcfe/d. The higher than expected volumes are driven by higher liquids volumes and capital efficiency gains.

Antero is also increasing its full year 2024 C3+ NGL realized price guidance to a range of $0.00 to $1.00 per barrel premium to Mont Belvieu, up from the previous guidance of flat to Mont Belvieu. This increase reflects higher expected realizations from its take-in-kind transactions, including more exposure to premium international prices during 2024.

Antero is decreasing its cash production expense guidance by $0.05 per Mcfe at the midpoint to a range of $2.40 to $2.50 per Mcfe reflecting lower fuel costs and lower production and ad valorem taxes.

For earnings history and earnings-related data on Antero Resources (AR) click here.