AESI NYSE Earnings call
Atlas Energy Solutions Inc. (AESI) · Q2 2026 results
Share price: $5.58 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 3 Aug 2026 and 5 May 2026
Net loss narrowed on the previous quarter. Management sounded cautious, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
Loss narrowed
Net income vs Q1 2026
Outlook given
Net income -25.1M vs -47.3M
Revenue +10.4%
Net income -25.1M vs -5.6M in Q2 2025 and -47.3M last quarter.
2 · How management spoke
Cautious
Among the least upbeat of all company calls
Answers to analysts: restrained, in line with the script.
Similar to last call.
3 · What stood out
Figure
Atlas has built over $1 billion worth of infrastructure projects, including many of the lowest-cost mining facilities in the West, reinforcing its…
Valuation
Reverse DCF. Free cash flow from the last full fiscal year, grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
Valuation unavailable: free cash flow and profit were negative in the last full year and on average over the last three, so there is nothing to discount.
Current price
$5.58
close of 2026-11-11
Revenue growth, 3 years
+31.4% a year
compound annual rate (CAGR)
Free cash flow 2023
−$0.1B
Free cash flow 2024
−$0.1B
Free cash flow 2025
−$0.0B
Read between the lines
-
Guidance
AESI expects third-quarter sand and logistics sales volume to remain the biggest barrier while anticipating continued improvement in power production costs.
Source quote
“Looking ahead to the third quarter, overall sand and logistics sales volume remain the biggest barrier, while we expect continued improvement in our production costs in power.”
-
Guidance
AESI expects the fourth quarter to show meaningful sequential improvement based on already allocated volumes and customer completion schedules.
Source quote
“As mentioned earlier, we expect the fourth quarter to show meaningful sequential improvement based on already allocated volumes and customer completion schedules that have been communicated to us with current...”
-
Fading
The company reiterated that the Caterpillar Global Framework Agreement is expected to generate approximately $55 million of adjusted free cash flow per annum.
Source quote
“The remainder relates to purchase obligations under our Caterpillar Global Framework Agreement, which we announced in March. As a reminder, we expect this to generate approximately $55 million of adjusted free cash flow per annum. This is not new spending.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“Our logistics business posted strong sequential improvement in the second quarter on the back of record volumes, an improving rate environment and strong utilization of Dune Express.”
“Our partnership with Kodiak has begun to result in significant productivity gains, which we expect to accelerate as new operational milestones are reached that will expand the operational footprint trucks...”
“Our power business also reported strong sequential growth with improved utilization in our oilfield power fleet and the start-up of operations at our new facility in Socorro, Texas.”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 293.2M | 265.6M | +10.4% | 288.7M | +1.6% |
| Gross profit | 25.9M | 6.3M | +308.3% | 52.1M | −50.4% |
| Operating income | -22.5M | -32.5M | Loss narrowed | 7.2M | Turned loss |
| Net income | -25.1M | -47.3M | Loss narrowed | -5.6M | Loss widened |
| EPS | -0.20 | -0.38 | Loss narrowed | -0.04 | Loss widened |
| P/E | 12-mo loss | 12-mo loss | — | 111.4 | — |
Topics
Most discussed now
- New It reminds me a bit of the cynicism surrounding its first company, Brigham Exploration, when Atlas Energy Solutions was pioneering…
- Such statements are based on the current information and management's expectations as of this statement and are not guarantees of...
- Most people did not believe horizontal fracking would work in oil.
- Atlas Energy Solutions does have some key customers that are taking short crew breaks during the quarter as they prepare to...
- The CapEx cycle for oilfield power business has also matured.
Faded since Q1 2026
- Fading On the power side, Atlas Energy Solutions has signed a global framework agreement with Caterpillar securing 1.4 gigawatts of generation…
- Dropped The thing about sand is though it is the critical raw material to the completion process.
- Fading Higher trucking rates can also be a tailwind for higher mine gate pricing.
- Dropped Before Atlas Energy Solutions closes, I want to step back from the quarter and tell you why I believe Atlas looks fundamentally...
Latest announcements
Official filings, newest first.
- Regulation FD disclosure; Other events · SEC 8-K
- Material agreement; Other events · SEC 8-K
- Results of operations; Regulation FD disclosure · SEC 8-K
- Shareholder vote results · SEC 8-K
- Results of operations; Regulation FD disclosure · SEC 8-K
- Material agreement; New financial obligation; Unregistered share sale; Other events · SEC 8-K
- Results of operations; Regulation FD disclosure; Other events · SEC 8-K
- Results of operations; Regulation FD disclosure; Other events · SEC 8-K