Atlas Energy Solutions Inc. Stock Price, News & Analysis

Atlas Energy Solutions (NYSE: AESI) has announced an underwritten public offering of 10,000,000 shares of common stock. The company plans to grant underwriters a 30-day option for an additional 1,500,000 shares. The net proceeds will be used to:

• Repay indebtedness, including secured PIK toggle seller note and credit facility borrowings
• Fund the cash consideration for the previously announced Moser Energy Systems acquisition
• Support power-related growth capital expenditures post-Moser acquisition

The Moser Acquisition is expected to close in Q1 2025 and is not contingent upon this offering's completion. Goldman Sachs and Piper Sandler are acting as lead-book running managers. The offering will be conducted through an effective shelf registration statement filed with the SEC on May 15, 2024.

Atlas Energy Solutions (NYSE: AESI) has announced a definitive agreement to acquire Moser Energy Systems in a transaction valued at $220 million. The deal includes $180 million in cash and approximately 1.7 million shares of Atlas common stock, valued at $40 million based on the 20-day trailing volume-weighted average price as of January 24, 2025.

The acquisition combines Atlas's completion platform with Moser's distributed power platform, creating a diversified energy solutions provider. Key highlights include: a dynamic fleet of natural gas-powered assets (~212MWs), Moser's strong EBITDA margin profile of 50%+, and in-house manufacturing capabilities. The transaction is expected to generate $40-45 million in Adjusted EBITDA in 2025 (10-months contribution), implying a 4.3x 2025 Adjusted EBITDA multiple.

The deal is expected to close by the end of Q1 2025, subject to customary closing conditions. Atlas has secured funding through an upsizing amendment to its existing delayed draw term loan facility.

Kodiak Robotics and Atlas Energy Solutions (NYSE: AESI) have achieved a significant milestone in autonomous trucking, with Atlas completing 100 loads of proppant deliveries using two RoboTrucks equipped with Kodiak's self-driving system. This marks the first-ever customer-owned driverless commercial semi-trucking operation.

Atlas began driverless operations on December 18, 2024, following the delivery of their RoboTrucks in December. The trucks operate across the 75,000 square mile Permian Basin in West Texas and Eastern New Mexico. To support operations, Kodiak has established an 18,000-square-foot facility in Odessa, Texas, with 12 employees, planning to expand to 20 by Q1 2025.

Concurrent with this milestone, Atlas launched the Dune Express, a 42-mile autonomous conveyor system that transports sand from their Kermit, Texas facility to New Mexico. Atlas plans to significantly scale its RoboTruck deployment throughout 2025, integrating with the Dune Express to automate their entire supply chain, aiming to reduce traffic and improve safety by eliminating millions of truck miles on public roads.

Atlas Energy Solutions (NYSE: AESI) has announced its schedule for the fourth quarter and year-end 2024 earnings release. The company will publish its financial results after market close on Monday, February 24, 2025. A conference call to discuss the results is scheduled for Tuesday, February 25, 2025, at 9:00 AM Central Time (10:00 AM Eastern Time).

Investors and interested parties can access a live webcast of the earnings call through the company's investor relations website at ir.atlas.energy. Participants are advised to join the webcast at least 10 minutes before the start time to ensure proper connection. An archived version of the earnings materials will be available on the company's website following the presentation.

Atlas Energy Solutions (NYSE: AESI) has achieved a significant milestone with its first commercial sand delivery through the Dune Express, a 42-mile conveyor system. The delivery occurred on January 12th, transporting proppant from the Kermit facility to the End-of-Line loadout facility in New Mexico.

The innovative project aims to enhance oilfield logistics efficiency and reliability in the Permian region while improving community safety by reducing truck traffic on public roads. This development marks a transformative step in the company's operational capabilities and service delivery to the oil and gas industry.

Brigham Exploration (BEXP) has acquired Great Western Drilling 's non-operated assets in Texas and New Mexico, creating one of the largest private non-operated footprints in the Permian Basin. The acquisition includes over 7,000 net acres in the Delaware and Midland Basin, with August 2024 net production of ~2,700 boe/d from ~29 net producing wells. The deal closed on November 22, 2024, with an April 1, 2024 effective date.

Post-acquisition, BEXP's average net daily wellhead production is estimated at 15,500 boe/d from ~79 net producing wells. The company maintained a strong pro forma balance sheet with a leverage ratio below 1.0x, funding the acquisition through existing equity commitments, a new credit facility led by BOK Financial, and existing cash.

Atlas Energy Solutions (NYSE: AESI) reported Q3 2024 financial results with total sales of $304.4 million, a 6% increase from Q2. Net income was $3.9 million with a 1% margin, while Adjusted EBITDA reached $71.1 million with a 23% margin. The company announced an increased quarterly dividend of $0.24 per share and authorized a $200 million share buyback program through December 2026. Product sales grew 13% to $145.3 million, with sales volumes up 22% to 6.0 million tons. Higher operating expenses impacted results, particularly at the Kermit facility. The company maintained strong liquidity of $253.4 million as of September 30, 2024.

Atlas Energy Solutions (NYSE: AESI) has begun commissioning the Dune Express, a 42-mile fully electric conveyor system set to transform proppant logistics in the Permian Basin. The project remains on-time and on-budget, with commercial transportation expected to start in late Q4. However, the company anticipates lower Q3 2024 operating results due to higher plant operating expenses. Atlas now projects Q3 2024 revenue between $300-$310 million and adjusted EBITDA of $70-$75 million, with proppant sales volumes around 6.0 million tons. The company also expects a $9 million asset write-down related to a dredge mining asset. Despite challenges, Atlas maintains a strong balance sheet and cash flow generation, enabling continued shareholder returns. The company views 2024 as a transition year, setting up 2025 as a potential break-out year for Atlas as the market leader in proppants and logistics.

Atlas Energy Solutions (NYSE: AESI) announced that on August 22, 2024, its Board of Directors increased its size from eight to nine members and elected CEO John Turner to the Board, effective immediately.

Executive Chairman Ben M. Brigham emphasized Turner's extensive industry experience and remarkable leadership since Atlas's founding.

Turner has been CEO since March 2024, previously served as CFO and President since November 2022, and has over 20 years of experience in the oil and gas industry, holding various leadership roles in both public and private entities.