Natural gas producer Antero Resources (NYSE: AR) will be announcing earnings results this Wednesday after the bell. Here’s what to look for.
Antero Resources beat analysts’ revenue expectations last quarter, reporting revenues of $1.29 billion, up 11.8% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates. It reported 756,000 oil production, down 11.1% year on year.
Is Antero Resources a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Antero Resources’s revenue to grow 17.4% year on year, slowing from the 30.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Antero Resources has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Antero Resources’s peers in the upstream & integrated segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Range Resources delivered year-on-year revenue growth of 20.6%, beating analysts’ expectations by 6.4%, and EQT reported revenues up 45.7%, falling short of estimates by 1.4%. Range Resources traded up 3.8% following the results while EQT was also up 3.1%.
Read our full analysis of Range Resources’s results here and EQT’s results here.
Investors in the upstream & integrated segment have had steady hands going into earnings, with share prices flat over the last month. Antero Resources is down 13.1% during the same time and is heading into earnings with an average analyst price target of $49.38 (compared to the current share price of $38.44).
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