Atlas Energy Solutions (NYSE:AESI) Issues Earnings Results, Misses Expectations By $0.12 EPS

Key Points

• Atlas Energy Solutions reported a quarterly loss of $0.36 per share, missing analyst expectations by $0.12. Revenue reached $267.78 million, slightly exceeding the $265.32 million consensus estimate.
• Shares fell 11.0% to $8.21 following the results, near the company’s one-year low of $7.64. The company posted a negative net margin of 11.08% and negative return on equity of 9.57%.
• Analyst sentiment is mixed, with six Buy, three Hold, and three Sell ratings; the consensus rating is Hold with a $17.10 price target. Several firms recently lowered their targets, while Zacks downgraded the stock to Strong Sell.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) released its quarterly earnings results on Monday. The company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12), FiscalAI reports. Atlas Energy Solutions had a negative net margin of 11.08% and a negative return on equity of 9.57%. The firm had revenue of $267.78 million for the quarter, compared to analyst estimates of $265.32 million.

Atlas Energy Solutions Stock Down 11.0%

Shares of AESI stock traded down $1.01 during trading hours on Monday, hitting $8.21. 4,047,180 shares of the company were exchanged, compared to its average volume of 3,598,832. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.58 and a current ratio of 1.82. Atlas Energy Solutions has a one year low of $7.64 and a one year high of $20.13. The business's 50-day simple moving average is $11.85 and its two-hundred day simple moving average is $13.37. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -8.64 and a beta of 1.29.

Wall Street Analysts Forecast Growth

AESI has been the subject of a number of analyst reports. Royal Bank Of Canada decreased their price objective on shares of Atlas Energy Solutions from $21.00 to $17.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 5th. Piper Sandler lowered their target price on Atlas Energy Solutions from $19.00 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, August 27th. Citigroup dropped their target price on Atlas Energy Solutions from $21.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, September 3rd. Stifel Nicolaus cut their price target on Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Finally, Zacks Research downgraded Atlas Energy Solutions from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 20th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Atlas Energy Solutions has an average rating of "Hold" and a consensus price target of $17.10.

About Atlas Energy Solutions

Atlas Energy Solutions Inc NYSE: AESI is an energy-services company that supplies proppant and logistics solutions to oil and natural gas producers. Its primary products include frac sand, which is used in hydraulic fracturing to help keep underground rock fractures open and improve the flow of hydrocarbons.

The company operates sand mines, processing facilities, and related infrastructure in the Permian Basin of West Texas. In addition to producing and selling proppant, Atlas provides transportation, storage, and last-mile delivery services designed to move sand from its facilities to well sites.

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