Natural gas producer Antero Resources (NYSE: AR) will be reporting earnings this Wednesday after the bell. Here’s what you need to know.
Antero Resources missed analysts’ revenue expectations last quarter, reporting revenues of $1.48 billion, up 22.7% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ EPS estimates. It reported year-on-year oil production growth of 12.8%.
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 37.8% year on year, improving from the 14.4% 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 will 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 Q3 results, giving us a hint as to what we can expect. Kinder Morgan delivered year-on-year revenue growth of 9.3%, beating analysts’ expectations by 20.4%, and SLB reported revenues up 5.8%, topping estimates by 1.7%. Kinder Morgan’s stock price was unchanged after the resultswhile SLB was up 6.4%.
Read our full analysis of Kinder Morgan’s results here and SLB’s results here.
There has been positive sentiment among investors in the upstream & integrated segment, with share prices up 5.7% on average over the last month. Antero Resources is up 21.3% during the same time and is heading into earnings with an average analyst price target of $49.64 (compared to the current share price of $41.67).
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