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Atlas Critical Minerals Corporation explores and develops critical minerals projects in Brazil for energy, technology, aerospace and defense applications. News about ATCX centers on its portfolio of rare earths, nuclear-grade graphite, uranium, titanium and iron ore assets, including updates on graphite mineral rights, rare earth metallurgical testing at the Alto do Paranaíba Project, and operations at the Rio Piracicaba Iron Ore Project.
Company updates also cover Nasdaq listing and public-offering milestones, technical leadership appointments, analyst coverage, shareholder voting matters, capital-structure disclosure and risk factors tied to exploration and development activities.
Atlas Technical Consultants (Nasdaq: ATCX) will participate in the CJS Securities 23rd Annual New Ideas for the New Year Conference on January 11, 2023. CEO L. Joe Boyer and Chief Strategy Officer Jonathan Parnell will present at 3:05 PM Eastern time. The event will be accessible virtually, enhancing engagement with investors and stakeholders. Atlas, based in Austin, Texas, is a leading provider of Infrastructure and Environmental solutions, with over 3,500 employees. For more information or to access the live presentation, visit their Investor Relations website.
Atlas Technical Consultants (ATCX) has been selected as a member of an AECOM-led joint venture to provide program delivery support for the California High-Speed Rail Project. The $400 million contract spans four years, with Atlas set to book approximately $65 million in backlog in Q4 2022. This project aims to create a unified quality management system for the rail program, expected to transform transportation in California while promoting environmental sustainability. The High-Speed Rail initiative is anticipated to generate significant reductions in greenhouse gas emissions.
Atlas Technical Consultants (Nasdaq: ATCX) has secured a $5 million contract with the Washington State Department of Transportation for Environmental and Quality Assurance Services. This project aims to remove fish barriers and enhance fish migration patterns following a Federal culvert injunction from 2013. Atlas will provide essential technical services, demonstrating its commitment to meeting environmental goals in the Pacific Northwest. CEO L. Joe Boyer emphasized Atlas' extensive experience in the region, enhancing their credibility in fulfilling this critical project.
Atlas Technical Consultants (Nasdaq: ATCX) reported strong third quarter 2022 results, with gross revenue increasing by 17% to $162.1 million, driven by 10% organic growth. Adjusted EBITDA rose 30% to $25.8 million, achieving a record margin of 20%. Backlog reached a record $864 million, up 14% year-over-year. The company is reaffirming its revenue guidance for 2022, estimating between $590 million and $610 million. Net income improved to $2 million from a loss of $2.5 million in the prior year quarter, reflecting operational improvements and market demand.
Atlas Technical Consultants (Nasdaq: ATCX) has secured multiple contracts with the California Department of Transportation (Caltrans), valued at over $11 million, for Construction Materials Testing and Inspection over three years. These contracts support critical transportation projects that may receive funding from the Infrastructure Investment and Jobs Act. Atlas is tasked with ensuring the safe construction of roadways and fiber optic installations without compromising infrastructure integrity.
Atlas Technical Consultants (Nasdaq: ATCX) has secured an $18 million contract for underground storage tank (UST) inspection and service with a public agency. The contract spans an initial three-year term with two one-year extensions. Atlas will assess environmental releases and develop remediation plans, contributing to community safety through high-quality environmental services. This contract adds to Atlas's backlog for Q2 2022, highlighting its strong position in the UST inspection and remediation market.
Atlas Technical Consultants (Nasdaq: ATCX) will release its third quarter 2022 financial results on November 8, 2022, post-market close. A webcast and conference call are scheduled for November 9, 2022, at 9:00 a.m. Eastern time to discuss these results and recent developments. Atlas specializes in Infrastructure and Environmental solutions, employing over 3,500 people nationally. The company integrates services across Environmental, Testing, Inspection, Engineering, and Quality Management sectors, addressing infrastructure needs impacted by climate and economic challenges.
Atlas Technical Consultants has been awarded a 5-year contract worth up to $25 million by the Georgia Department of Transportation (GDOT) to provide program management services for transportation projects. This contract, containing a base term of three years with two optional one-year extensions, aims to enhance local agency project execution. Atlas's role includes managing projects from funding award to construction, ultimately improving infrastructure while safeguarding environmental resources. The company emphasizes its long-standing collaboration with GDOT to fulfill community infrastructure needs.
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.