None
EN
Atlas Energy Solutions (NYSE: AESI) Reports Sharply Wider Q2 Net Loss Despite Modest Revenue Growth
['Ewan Scott']
Foreign Policy Journal
Atlas Energy Solutions Inc. (NYSE: AESI) posted a significantly larger net loss in its second quarter, raising concerns among investors about the company’s near-term profitability trajectory.
The oilfield services and proppant supplier recorded a net loss of $25.10 million for the second quarter, a steep deterioration from the $5.56 million loss reported in the same period a year earlier.
On a per-share basis, the company’s loss widened to $0.20, compared with a loss of $0.04 per share in the prior-year quarter, representing a fivefold increase in per-share losses.
Revenue for the quarter rose 1.6% year over year, climbing to $293.18 million from $288.68 million in the second quarter of the prior year.
Atlas Energy Solutions operates in the Permian Basin and surrounding regions, supplying proppant and logistics solutions to oil and gas producers navigating a competitive and cost-sensitive environment.