The Q2 guidance midpoint of $50M Adj. EBITDA significantly exceeds the Q1 run rate, signaling a rapid turnaround. Monitor power segment execution (Caterpillar deal, 120MW PPA) as the key catalyst; the convertible note offering adds leverage but funds growth. A beat on Q2 guidance could drive material upside.
Price Chart
Executive Summary
Atlas Energy Solutions reported Q1 2026 revenue of $265.5M (down 10.8% YoY) and a net loss of $47.3M, with Adjusted EBITDA of $28.4M (down 62% YoY). Despite the weak YoY comparison, the company issued strong Q2 guidance for ~$50M in Adjusted EBITDA, supported by growing power generation contracts and the Caterpillar framework agreement.
Key Financial Metrics
Key Facts
- Q1 2026 total revenue $265.5M (Q4 2025: $249.4M; Q1 2025: $297.6M)
- Net loss of $47.3M vs. loss of $22.2M in Q4 2025 and profit of $1.2M in Q1 2025
- Adjusted EBITDA $28.4M (Q4 2025: $36.7M; Q1 2025: $74.3M)
- Q2 2026 Adjusted EBITDA guidance of approximately $50M (sequential improvement of ~76%)
- Completed upsized $450M convertible note offering with net proceeds ~$386.2M
- Signed Global Framework Agreement with Caterpillar for 1.4 GW of power generation assets
Financial Impact
Revenue declined ~10.8% YoY and Adjusted EBITDA dropped 62% YoY, but Q2 guidance implies a sharp sequential recovery to $50M Adj. EBITDA.
Risk Factors
- Higher plant operating costs may persist if winter weather or maintenance issues recur
- Convertible note adds ~$450M in debt, increasing interest expense and dilution risk
- Power generation business is nascent and may not scale as expected
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-204216 |
| Document: aesi-20260504.htm | 0001193125-26-204216 |
| Document: 0001193125-26-204216-index-headers.html | 0001193125-26-204216 |
| Document: 0001193125-26-204216-index.html | 0001193125-26-204216 |
| Document: 0001193125-26-204216.txt | 0001193125-26-204216 |
| 8-K Data (Synthetic) | 0001193125-26-204216 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 8-K | $8.60 | awaiting T+20 | — | $9.09 (+5.70%) |
Sep 25, 2026 4w ago | 8-K | $12.47 $8.66 | ▼ −30.55% | ▼ −29.08% | $9.09 (−27.11%) |
Aug 4, 2026 11w ago | Institutional Cluster | $10.93 $12.68 | ▲ +16.01% | ▲ +17.25% | $9.09 (−16.83%) |
May 4, 2026 24w ago | 8-K | $19.22 $18.04 | ▼ −6.14% | ▼ −11.09% | $9.09 (−52.71%) |
Apr 10, 2026 28w ago | DEFA14A | $11.71 $18.84 | ▲ +60.89% | ▲ +53.16% | $9.09 (−22.37%) |
Apr 6, 2026 29w ago | 8-K | $11.16 $17.75 | ▼ −59.05% | ▼ −50.07% | $9.09 (+18.55%) |
Apr 1, 2026 29w ago | DEFA14A | $12.15 $17.38 | ▲ +43.05% | ▲ +33.17% | $9.09 (−25.19%) |
Apr 1, 2026 29w ago | 8-K | $12.20 $17.20 | ▲ +40.98% | ▲ +31.26% | $9.09 (−25.49%) |
Mar 27, 2026 30w ago | DEFA14A | $13.15 $17.10 | ▲ +30.04% | ▲ +17.44% | $9.09 (−30.87%) |
US Market Status
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