Atlas Energy Solutions Inc. (AESI), an Austin, Texas-based enterprise established in 2017, offers crucial proppant and supply chain management solutions. The company's ...
Atlas Energy Solutions Inc. is a publicly traded energy-services company headquartered in Austin, Texas, and listed on the New York Stock Exchange under the symbol AESI. Founded in 2017 by veteran exploration-and-production executive Ben “Bud” Brigham, the company was created with an operator-oriented understanding of the needs of shale oil ...Atlas Energy Solutions Inc. is a publicly traded energy-services company headquartered in Austin, Texas, and listed on the New York Stock Exchange under the symbol AESI. Founded in 2017 by veteran exploration-and-production executive Ben “Bud” Brigham, the company was created with an operator-oriented understanding of the needs of shale oil and natural-gas producers. John G. Turner has served as chief executive officer since March 2024, while Brigham remains an important founder and executive leadership figure.
Atlas focuses on the Permian Basin, one of North America’s most active oil and gas producing regions. Its core business is the production and supply of proppant, especially frac sand. Proppant is injected into hydraulically fractured wells to help keep fractures open, allowing hydrocarbons to flow more effectively. Atlas complements the material itself with logistics and supply-chain services, including transportation, transloading, storage, delivery coordination, and other solutions intended to move large volumes of sand reliably from mine or distribution locations to well sites.
The company’s asset base and regional concentration are designed to reduce friction in the well-completion process. Important customer considerations include delivered cost per ton, transportation distance, mine and processing economics, loading efficiency, inventory availability, reliability, and the ability to coordinate deliveries with rapidly changing drilling and completion schedules. Atlas’s cost structure therefore includes mining and processing expenses, labor, fuel, maintenance, rail or trucking, equipment ownership, depreciation, and capital expenditures for infrastructure and technology. The precise bill of materials varies by product and service, but generally includes raw sand resources, processing systems, transload facilities, trucks, storage assets, software, automation systems, and field-support equipment.
Atlas also develops technology-oriented and emissions-conscious distributed-power solutions. These solutions can include generator systems using raw wellhead gas, pipeline gas, and propane, potentially helping oilfield customers replace or supplement diesel-powered generation while using locally available energy sources. Automation, remote operations, and digital coordination are additional elements of the company’s strategy to improve efficiency and reduce emissions intensity.
The supplied financial snapshot identifies Atlas as an energy-sector company in the oil and gas equipment and services industry, with approximately 1,511 full-time employees and a market capitalization of roughly $1.4 billion at the referenced quotation. The same trailing-period data shows revenue per share of approximately $8.55, book value per share of approximately $8.91, an enterprise value of approximately $2.2 billion, and an EBITDA margin of about 11.3%. It also indicates substantial capital investment, with capital expenditures equal to approximately 22.4% of revenue, illustrating the asset-intensive nature of mining, logistics, infrastructure, and power operations. Performance is influenced by Permian Basin production activity, completion intensity, frac-sand pricing, customer demand, diesel and fuel costs, transportation availability, weather, commodity prices, leverage, and capital-spending decisions by exploration-and-production companies.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$1.1B
+3.7%
+10.4%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-50.3M
-183.9%
+46.9%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+13.8%
-37.4%
+1026.8%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-1.5%
-114.0%
+49.2%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-4.6%
-180.9%
+51.9%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-30.9M
+73.7%
-1401.9%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-2.8%
+74.6%
-1260.6%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
47.9%
-6.4%
+46.6%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.46x
+22.4%
+55.3%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Greetings. Welcome to Atlas Energy Solutions, Inc. Second Quarter 2026 Earnings Call. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to Kyle Turlington, Investor Relations. Thank you. You may begin.
Kyle Turlington: Hello, and welcome to the Atlas Energy Solutions Conference Call and Webcast for the Second Quarter of 2026. With us today are John Turner, President and CEO; Blake McCarthy, CFO; Tim Ondrak, President of Power; and Bud Brigham, Executive Chair. John, Blake and Bud will be sharing their comments on the company's operational and financial performance for the second quarter of 2026, after which we will open the call for Q&A. Before we begin our prepared remarks, I would like to remind everyone that this call will include forward-looking statements as defined under the U.S. securities laws. Such statements are based on the current information and management's expectations as of this statement and are not guarantees of future performance. Forward-looking statements involve certain risks, uncertainties and assumptions that are difficult to predict. As such, our actual outcomes and results could differ materially. You can learn more about these risks in the annual report on Form 10-K filed with the SEC on February 24, 2026, and our quarterly report on Form 10-Q for the first quarter and current reports on Form 8-K and other SEC filings. You should not place undue reliance on forward-looking statements, and we undertake no obligation to update these forward-looking statements. We will also make reference to certain non-GAAP financial measures such as adjusted EBITDA, adjusted free cash flow and other operating metrics and statistics. You will find the GAAP reconciliation comments and calculations in yesterday's press release. With that said, I will turn the call over to John Turner.
John Turner: Thanks, Kyle. For the second quarter, Atlas generated revenue of $293.2 million and adjusted EBITDA of $49.5 million, which represents an EBITDA margin of approximately 17%. Blake will cover the financial detail later on the call. Before I get into the quarter, let me lay out how our Power business is organized because we get a lot of questions about it. We have 2 divisions. Oilfield power sells generation to oil and gas operators across many basins, and we expect that fleet to exit this year with 180 megawatts to 200 megawatts deployed, the majority of which are under long-term agreements. Long-term behind-the-meter power sells primary permanent power to large-scale users, principally data centers. We signed our first contract in that division this quarter, and our Global Framework Agreement with Caterpillar supports its growth. The second quarter was highlighted by the execution of our first behind-the-meter contract, a 120-megawatt power purchase agreement with a subsidiary of an investment-grade technology infrastructure provider. The economics are as follows: total project …
