earnings
confidence high
sentiment negative
materiality 0.80
Atlas Energy lowers Q3 guidance: revenue $300-310M, adj. EBITDA $70-75M, below prior outlook
Atlas Energy Solutions Inc.
2024-Q3 EPS reported
$0.42
revenue$784,619,000
- Proppant sales volumes expected ~6.0M tons; asset write-down of ~$9M on dredge mining asset.
- Dune Express commissioning began early Oct; commercial proppant transport into Delaware Basin starts late Q4.
- Q4 results expected roughly flat with Q3 due to E&P budget exhaustion and higher Kermit plant costs.
- Shift to domestic dredge manufacturer after new dredge severely damaged during commissioning, resulting in total loss.
- Average production costs per ton expected to normalize by year-end; strong balance sheet supports return of capital.