Antero Resources Corporation

Financial Statements

Income Statement (Annual)

Amounts in millions

2024

12/31/2024

Revenue

4,119

Cost of Revenue

3,791

Gross Profit

327

Gross Margin

7.9%

Operating Income

Operating Margin

0.0%

Net Income

Net Margin

1.4%

EPS (Basic)

$0.18

EPS (Diluted)

$0.18

EBITDA

860

EBITDA Margin

20.9%

2023

12/31/2023

Revenue

4,279

Cost of Revenue

3,667

Gross Profit

612

Gross Margin

14.3%

Operating Income

396

Operating Margin

9.3%

Net Income

198

Net Margin

4.6%

EPS (Basic)

$0.66

EPS (Diluted)

$0.64

EBITDA

1,229

EBITDA Margin

28.7%

2022

12/31/2022

Revenue

8,300

Cost of Revenue

3,708

Gross Profit

4,592

Gross Margin

55.3%

Operating Income

2,539

Operating Margin

30.6%

Net Income

1,872

Net Margin

22.6%

EPS (Basic)

$6.18

EPS (Diluted)

$5.77

EBITDA

3,285

EBITDA Margin

39.6%

2021

12/31/2021

Revenue

5,792

Cost of Revenue

3,536

Gross Profit

2,256

Gross Margin

38.9%

Operating Income

Operating Margin

0.4%

Net Income

-187

Net Margin

-3.2%

EPS (Basic)

$-0.61

EPS (Diluted)

$-0.61

EBITDA

700

EBITDA Margin

12.1%

2020

12/31/2020

Revenue

3,084

Cost of Revenue

3,598

Gross Profit

-514

Gross Margin

-16.7%

Operating Income

-953

Operating Margin

-30.9%

Net Income

-1,268

Net Margin

-41.1%

EPS (Basic)

$-4.65

EPS (Diluted)

$-4.65

EBITDA

-593

EBITDA Margin

-19.2%

Income Statement (Annual)

Financial performance (amounts in millions)

Item	2024	2023	2022	2021	2020
Revenue	4,119	4,279	8,300	5,792	3,084
Cost of Revenue	3,791	3,667	3,708	3,536	3,598
Gross Profit	327	612	4,592	2,256	-514
Gross Margin	7.9%	14.3%	55.3%	38.9%	-16.7%
Operating Income	0	396	2,539	24	-953
Operating Margin	0.0%	9.3%	30.6%	0.4%	-30.9%
Net Income	57	198	1,872	-187	-1,268
Net Margin	1.4%	4.6%	22.6%	-3.2%	-41.1%
EPS (Basic)	$0.18	$0.66	$6.18	$-0.61	$-4.65
EPS (Diluted)	$0.18	$0.64	$5.77	$-0.61	$-4.65
EBITDA	860	1,229	3,285	700	-593
EBITDA Margin	20.9%	28.7%	39.6%	12.1%	-19.2%