Antero Resources' revenue recovered from roughly $928M in 2024Q2 to about $1.9B in 2026Q1, with operating margin expanding to 35.5% and net income reaching $535.2M, but the pattern appears driven primarily by realized commodity prices rather than sustained volume growth.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue rebounded sharply to about $1.9B in 2026Q1 with a 35.5% operating margin, yet margins collapsed to 0.5% gross and negative operating results in 2024, underscoring how dependent profitability is on commodity pricing.
Antero Resources benefits from low-cost reserves in the Appalachian region, enhancing profitability and competitive positioning.
The company is well-positioned to capitalize on growing demand for natural gas and NGL exports, driving revenue potential.
Antero's concentrated operations in the Marcellus region provide operational efficiencies and access to high-quality resources.
Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 28, 2026 | $1.19+23.1% vs $0.97 | $1.6B-0.4% vs $1.6B |
Q3 2026 Jul 29, 2026 | $0.76-9.0% vs $0.83 | $1.6B+2.3% vs $1.5B |
Q2 2026 Apr 29, 2026 | $1.15-1.7% vs $1.17 | $1.9B+16.8% vs $1.7B |
Q1 2026 Feb 11, 2026 | $0.42-16.5% vs $0.50 | $1.4B+7.9% vs $1.3B |
Antero Resources curtailed production in Q3 2026 and Q4 2026 due to weaker in-basin natural gas prices. Hedges plus stronger liquids prices should help its realized price rebound in Q4. I currently estimate it will realize 20% more per Mcfe in Q4 compared to Q3. Liquids prices remain relatively strong in 2027 based on strip prices, although in-between Q3 2026 and Q4 2026 levels.
Antero Midstream received a $377M settlement. That reduced its debt ratio. Antero Resources resumed single-digit growth. A robust Q3 performance signals a positive volume and fee outlook for AM. East Side Express pipeline construction and rising liquids pricing enhance AM's growth prospects.
Antero Resources NYSE: AR reported record third-quarter production and lower cash costs as management highlighted growing natural gas demand expectations, stronger NGL pricing and progress toward its margin-enhancement targets.
Antero Resources Corporation ( AR ) Q3 2026 Earnings Call October 29, 2026 11:00 AM EDT Company Participants Daniel Katzenberg - Director of Finance and Investor Relations Michael Kennedy - CEO, President & Director David Cannelongo - Senior Vice President of Marketing & Transportation Justin B. Fowler - Senior Vice President of Natural Gas Brendan Krueger - CFO, Senior VP of Finance & Treasurer Conference Call Participants Neil Mehta - Goldman Sachs Group, Inc., Research Division Gabe Daoud - Truist Securities, Inc., Research Division Arun Jayaram - JPMorgan Chase & Co, Research Division Kevin MacCurdy - Pickering Energy Partners Insights David Deckelbaum - Stifel, Nicolaus & Company, Incorporated, Research Division Jacob Roberts - TPH Research Wei Jiang - Barclays Bank PLC, Research Division Phillip Jungwirth - BMO Capital Markets Equity Research Subhasish Chandra - StoneX Financial, Inc., Research Division Leo Mariani - ROTH Capital Partners, LLC, Research Division Paul Diamond - Citigroup Inc., Research Division John Abbott - Wolfe Research, LLC John Annis - Texas Capital Securities, Research Division Joshua Silverstein - UBS Investment Bank, Research Division Presentation Operator Greetings, and welcome to the Antero Resources Corporation Third Quarter 2026 Earnings Call.
Benchmark AR against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Antero Resources Corporation (AR)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $36.08 | $11.09B | 8.10 | 21.73% | 22.74% | 16.72% | — | |
| $49.40 | $30.9B | 11.14 | 73.74% | 30.23% | 9.79% | 1.26% | |
| $48.72 | $11.38B | 12.85 | 27.56% | 25.48% | 19.27% | 0.73% | |
| $34.92 | $4.94B | 5.65 | 48.87% | 36.22% | 19.58% | — | |
| $18.98 | $9.01B | 13.39 | 6.99% | 50.96% | 33.53% | 4.8% | |
| $150.00 | $2.7B | 5.51 | 42.53% | 31.95% | 26.19% | 0.06% |
Antero Resources Corporation (AR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Antero Resources Corporation (AR) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 28, 2026·SEC
Jul 29, 2026·SEC
Jun 23, 2026·SEC
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Antero Resources Corporation (AR) stock FAQ — growth, dividends, profitability & financials explained
Antero Resources Corporation (AR) reported $6.05B in revenue over the trailing twelve months. Revenue was $5.01B in fiscal year 2025. That is 2467% more than the $195.3M of fiscal year 2011.
Antero Resources Corporation (AR) grew revenue by 23.9% over the trailing twelve months, compared with the twelve months before.
Yes. Antero Resources Corporation (AR) earned $1.37B in net income over the trailing twelve months (a 22.7% net margin).
Antero Resources Corporation (AR) had a return on equity (ROE) of 16.7% over the trailing twelve months. That is above the market's typical 10-15%.
Antero Resources Corporation (AR) generated $1.28B in free cash flow over the trailing twelve months.
