Antero midstream announces fourth quarter 2021 financial results and 2022 capital budget and guidance

Denver, feb. 16, 2022 /prnewswire/ -- antero midstream corporation (nyse: am) ("antero midstream" or the "company") today announced its fourth quarter 2021 financial and operational results and 2022 capital budget and guidance.   fourth quarter 2021 earnings highlights: net income was $79 million, or $0.16 per share, in line with the prior year quarter adjusted net income was $95 million, or $0.20 per share, compared to $98 million, or $0.21 per share in the prior year quarter (non-gaap measure) adjusted ebitda was $213 million, a 5% increase compared to the prior year quarter (non-gaap measure) capital expenditures were $80 million net cash provided by operating activities was $164 million free cash flow before dividends was $88 million and free cash flow after dividends was a $(19) million deficit (non-gaap measure) total debt and net debt at year end were $3.1 billion and net debt to last twelve months adjusted ebitda was 3.6x (non-gaap measure) placed the lincoln compressor station in service, adding 240 mmcf/d of compression capacity extended credit facility maturity from 2022 to 2026, with over $700 million of liquidity at year-end full year 2021 earnings highlights: net income was $ 332 million, or $ 0.69 per share, compared to a $ 0.26 per share net loss in the prior year adjusted ebitda was $876 million, $16 million above the midpoint of antero midstream's guidance range of $860 million (non-gaap measure) capital expenditures were $262 million, in line with the high end of the guidance range net cash provided by operating activities was $710 million free cash flow before dividends was $439 million and free cash flow after dividends was $10 million, both above the midpoint of their respective guidance ranges (non-gaap measure) generated a return on invested capital (roic) of 18% in 2021 (non-gaap measure) 2022 guidance highlights: forecasting low single digit throughput growth compared to 2021 servicing 75 to 80 wells with antero midstream's fresh water delivery system net income of $330 to $370 million, representing gaap earnings of $0.69 to $0.78 per share adjusted net income of $385 to $425 million, representing adjusted earnings of $0.81 to $0.89 per share (non-gaap measure) adjusted ebitda of $850 to $890 million (non-gaap measure) capital budget of $275 to $300 million free cash flow before dividends of $385 to $425 million and free cash flow after dividends of a $(45) to $(5) million deficit assuming an annualized dividend of $0.90 per share (non-gaap measures) paul rady, chairman and ceo said, "i'm exceptionally proud of our employees, who once again were able to achieve safety, operating, and financial records in 2021.
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