Antero Resources Corp (AR)

Pretax margin

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Earnings before tax but after interest (EBT)	US$ in thousands	-60,959	318,913	2,347,460	-260,976	-1,665,380
Revenue	US$ in thousands	4,325,600	4,681,970	7,138,440	4,619,430	3,491,700
Pretax margin		-1.41%	6.81%	32.88%	-5.65%	-47.70%

December 31, 2024 calculation

Pretax margin = EBT ÷ Revenue
= $-60,959K ÷ $4,325,600K
= -1.41%

To analyze Antero Resources Corp's pretax margin over the past five years:

1. In December 2020, the company reported a significantly negative pretax margin of -47.70%, indicating that its operating expenses and other costs outweighed its revenue, resulting in a substantial pre-tax loss.

2. By December 2021, the pretax margin improved to -5.65%, although it remained negative, showing some progress in controlling costs and potentially increasing revenue.

3. The company experienced a significant turnaround in December 2022, achieving a pretax margin of 32.88%, indicating a strong profitability as revenue outpaced operating expenses.

4. However, the pretax margin dipped in December 2023 to 6.81%, suggesting a slight decrease in profitability compared to the previous year, but still maintaining a positive margin.

5. By December 2024, the pretax margin declined further to -1.41%, moving back into negative territory, potentially signaling challenges in managing costs or generating sufficient revenue.

Overall, Antero Resources Corp demonstrated fluctuations in pretax margin over the five-year period, with notable improvements in 2022 but challenges in sustaining profitability in subsequent years. Further analysis of the company's financial performance and operational strategies may provide insights into the factors influencing these fluctuations.