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Stock impact report

Atlas Energy Solutions (AESI) Falls Below Estimates in Q3 [Yahoo! Finance]

Atlas Energy Solutions Inc. (AESI) 
Company Research Source: Yahoo! Finance
Atlas Energy Solutions (AESI) Falls Below Estimates in Q3 Atlas Energy Solutions Inc. (NYSE:AESI) engages in the production, processing, and sale of mesh and sand used as a proppant during the well completion process in the Permian Basin of West Texas and New Mexico. Atlas Energy Solutions Inc. (NYSE:AESI) missed estimates in both earnings and revenue in its third-quarter results announced on November 3, with the company plagued by lost sales, high costs, and lingering issues at its Kermit facility. Atlas posted a net loss of $23.7 million for the quarter, and its adjusted EBITDA of $40.2 million was down 43% sequentially. Moreover, the company projected its Q4 adjusted EBITDA to be even lower, as elevated costs and sluggish volumes are expected to persist. Another factor that motivated investors to trim their holdings in Atlas Energy Solutions Inc. (NYSE:AESI) was the company's announcement to suspend its quarterly dividend. Bud Brigham, executive chairman at Atlas, stated: Show less Read more
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