Welcome to our dedicated page for Atlas Technical Consultants news (Ticker: ATCX), a resource for investors and traders seeking the latest updates and insights on Atlas Technical Consultants stock.
Atlas Technical Consultants Inc. (ATCX) delivers essential testing, inspection, and engineering services for critical infrastructure nationwide. This news hub provides investors and industry professionals with authoritative updates on the company's strategic contracts, technological advancements, and regulatory milestones.
Discover timely reports on ATCX's public-sector partnerships, including transportation infrastructure inspections and multi-year government contracts. Track innovations like AI-driven data collection tools and specialized software deployments that enhance operational efficiency across 3,300+ employees.
Key updates include federal compliance achievements, major project awards, and advancements in structural assessment methodologies. All content is verified for accuracy, offering neutral insights into ATCX's role in maintaining national infrastructure standards.
Bookmark this page for consolidated access to Atlas Technical Consultants' official announcements and analysis of their market position in engineering services. Check regularly for developments impacting public-sector project execution and long-term growth strategies.
Atlas Technical Consultants has secured a $26 million contract with the Georgia Department of Transportation for Construction Engineering and Inspection services over three years. This contract involves critical services such as contract administration, inspection, and materials testing for various construction projects in the Southeastern District, covering 26 counties. Atlas aims to enhance transportation infrastructure, including road widening, asphalt rehabilitation, and bridge work, emphasizing a strong relationship with Georgia DOT, which focuses on innovation and sustainability in mobility solutions.
Atlas Technical Consultants reported strong second quarter results, with gross revenue rising 19.0% to $156.5 million. Adjusted EBITDA increased 16.7% to $21.2 million, indicative of robust operational performance. The gross margin, excluding subcontractor costs, reached a historic 60.4%. Backlog also set a record at $855 million, up 13.8% year-over-year. Despite a net loss of $1.4 million, the company reaffirms its 2022 outlook for continued double-digit revenue and EBITDA growth, supported by strong demand in infrastructure and environmental sectors.
Atlas Technical Consultants, Inc. (Nasdaq: ATCX) is set to release its second quarter 2022 financial results on August 9, 2022, after market close. A conference call to discuss these results will occur on August 10, 2022, at 9:00 a.m. Eastern time. Headquartered in Austin, Texas, Atlas provides Infrastructure and Environmental solutions across diverse sectors. With over 3,500 employees, the company integrates services in Environmental, Engineering, and Quality Management. The press release contains forward-looking statements, highlighting various risks and uncertainties impacting future performance.
Atlas Technical Consultants has secured a six-year, $6.5 million contract for program management services related to Cobb County PARKS' 2022 SPLOST program. This initiative is expected to generate $52.2 million for park improvements and new developments, continuing Atlas' long-term partnership with the county. Atlas will provide essential management services to enhance community access to green spaces. The company has been managing Cobb PARKS SPLOST since 2012, reflecting its commitment to supporting local environmental and social needs.
AUSTIN, Texas, July 8, 2022 – Atlas Technical Consultants (Nasdaq: ATCX), a leading Infrastructure and Environmental services provider, announced that CEO L. Joe Boyer and Chief Strategy Officer Jonathan Parnell will participate in the CJS Securities 22nd Annual New Ideas Summer Conference on July 12, 2022. Atlas, headquartered in Austin, is focused on improving the performance and longevity of infrastructure assets through innovative solutions in Environmental, Testing, Inspection, Certification, Engineering, and Program Management. For more information, visit oneatlas.com.
Atlas Technical Consultants (ATCX) has secured a three-year, $18 million contract with the California Department of Transportation for Quality Assurance and Inspection Services in Southern California. This contract underscores Atlas's commitment to enhancing quality assurance services, positioning it strategically before major global events such as the 2026 FIFA World Cup and 2028 Olympics. The company aims to support various capital projects, enhancing infrastructure quality across multiple counties, including Los Angeles and San Diego.
Atlas Technical Consultants, Inc. (Nasdaq: ATCX) announced its inaugural sustainability report outlining its 2030 Environmental, Social, and Governance (ESG) goals. The report emphasizes Atlas' commitment to the UN Sustainable Development Goals and includes a full ESG strategy, governance enhancements, and a carbon footprint inventory. Key targets involve completing 50,000 infrastructure projects, reducing GHG emissions by 50%, and achieving gender pay equity. The company aims to foster diversity and community engagement through various initiatives.
Atlas Technical Consultants has entered into an interest rate cap transaction with JPMorgan Chase to mitigate interest expense risks linked to potential rate fluctuations. This transaction, effective from June 1, 2022, caps the variable portion of the company’s interest at 3.0% for a notional amount of $500 million. Monthly payments will be made by JPMorgan if the benchmark interest rate exceeds this cap. CEO L. Joe Boyer emphasized that this step is part of ongoing efforts to reduce leverage and simplify the company’s capital structure.
Atlas Technical Consultants (ATCX) reported a strong start to 2022 with a 9.7% increase in gross revenue, reaching $135.2 million, driven by 6% organic growth and acquisitions. Adjusted EBITDA rose 13.4% to $16.5 million, representing a 12.2% margin. The backlog reached a record $851 million, up 24% year-over-year. Despite a net loss of $4.4 million, the company reaffirmed its full-year outlook, anticipating revenue of $580-$620 million and adjusted EBITDA of $84-$90 million.
Atlas Technical Consultants, Inc. (Nasdaq: ATCX) has been awarded a contract worth $85.90 million by the Los Angeles County Metropolitan Transportation Authority for Environmental Capital Construction Support services. The initial three-year term of the contract is valued at $82.65 million, with additional options bringing the total potential value to $85.90 million. Atlas anticipates booking at least $12 million from this contract, which encompasses handling environmental waste, hazardous materials, and related construction services.
