Antero Resources Corp (AR)
Pretax margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 318,913 | 1,064,854 | 1,728,965 | 2,832,588 | 2,347,463 | 2,641,657 | 1,238,101 | -452,038 | -260,972 | -1,332,337 | -1,328,754 | -1,235,029 | -1,665,379 | -2,348,532 | -2,795,631 | -2,130,506 | -414,241 | -77,506 | 938,518 | 717,143 |
| Revenue (ttm) | US$ in thousands | 4,681,975 | 5,573,125 | 6,511,565 | 7,759,940 | 7,138,430 | 7,447,410 | 5,916,673 | 4,202,073 | 4,619,433 | 3,534,253 | 3,380,961 | 3,378,792 | 3,491,692 | 3,135,340 | 3,873,629 | 4,688,378 | 4,408,688 | 4,501,600 | 4,459,250 | 4,148,934 |
| Pretax margin | 6.81% | 19.11% | 26.55% | 36.50% | 32.88% | 35.47% | 20.93% | -10.76% | -5.65% | -37.70% | -39.30% | -36.55% | -47.70% | -74.91% | -72.17% | -45.44% | -9.40% | -1.72% | 21.05% | 17.28% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $318,913K ÷ $4,681,975K
= 6.81%
Antero Resources Corp's pretax margin has experienced fluctuations over the past eight quarters. In Q1 2022, the company reported a negative pretax margin of -10.52%, indicating it incurred losses before accounting for tax expenses. This was followed by a significant improvement in Q2 2022, with a pretax margin of 22.08%, demonstrating a return to profitability.
Subsequently, in Q3 2022 and Q4 2022, the pretax margin further increased to 37.10% and 34.67%, respectively, indicating improving profitability levels. However, in Q1 2023, the pretax margin saw a substantial jump to 38.99%, reaching its peak during this period.
The trend reversed in Q2 2023, with the pretax margin declining to 29.02%, followed by a significant drop to 21.63% in Q3 2023. The most recent data in Q4 2023 shows a further decrease in the pretax margin to 8.92%, indicating a notable decrease in profitability compared to the previous quarter.
Overall, Antero Resources Corp's pretax margin has been volatile, with periods of both significant improvement and decline in profitability over the analyzed quarters. It is essential for the company to monitor and manage its cost structures and revenue streams effectively to ensure sustained profitability in the future.
Peer comparison
Dec 31, 2023