Headline says they met 28 cent loss estimate. Everyone was predicting a gain, so the analyst must of adjusted their estimates last week. Starting to think estimates are a joke
Negative cash flow. from the 10-q
As of December 31, 2022, Antero Resources had an outstanding balance under the Credit Facility of $35 million, with a weighted average interest rate of 6.42%, and outstanding letters of credit of $504 million. As of June 30, 2023, Antero Resources had an outstanding balance under the Credit Facility of $360 million, with a weighted average interest rate of 7.44%, and outstanding letters of credit of $502 million.
Note interest on revolver higher at 7.44 % vs 6.42% at year end. Also note, the amount owed is 360 m vs 35 m at year end. YTD , they are about break even operating cash flow bt have to borrow money to cover cap ex
They are super levered if prices improve as NG is unhedged.
earnings release
https://d1io3yog0oux5.cloudfront.net/_4713aa558a93f6129a799a924b46702c/anteroresources/news/2023-07-26_Antero_Resources_Announces_Second_Quarter_2023_229.pdf