Atlas Energy Solutions Inc. (AESI) Form 10-Q — Nov 3, 2026
Atlas Energy Solutions (NYSE: AESI) filed its Q3 2026 10-Q showing revenue of $267.8M, up modestly from $259.6M a year ago, but the net loss widened sharply to $45.1M ($0.36/share) from $23.7M as gross profit collapsed to $5.2M from $23.8M. The nine-month net loss reached $117.5M versus $28.1M in 2025, with operating cash flow falling to $41.8M from $113.6M while capex surged to $367.8M as the company builds out its power generation fleet. Leverage climbed materially: long-term debt rose to roughly $941M carrying value (about $986M principal) from $578M at year-end, driven by a $450M 0.50% convertible notes issuance in April 2026 and the $540M Stonebriar term loan at 9.51%.
Key figures
- Revenue
- 267778000
- Total Debt
- Approximately $985.5M principal at 9/30/2026 ($486.1M 2025 Term Loan, $436.8M 2031 Notes, $32.6M equipment financing, $30.0M ABL)
- Revenue Yoy
- Q3 2026 revenue $267.8M vs $259.6M in Q3 2025 (~+3%); nine-month revenue $826.5M vs $845.9M (-2.3%)
- Total Assets
- 2545147000
- Cash Position
- 22322000
- Shares Outstanding
- 125257801
- Term loan rate
- 9.51% per annum, matures March 1, 2032
- Capex nine months
- $367.8M purchases of PP&E
- Convertible notes
- $450.0M 0.50% Convertible Senior Notes due 2031 issued April 9, 2026
- Nine month net loss
- -$117.5M vs -$28.1M prior year
- Gross profit q3 2026
- $5.2M vs $23.8M prior year
- Operating loss q3 2026
- -$40.0M
- Interest expense nine months
- $49.0M net
- Operating cash flow nine months
- $41.8M vs $113.6M prior year
AI analysis
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