Atlas Energy Solutions Announces First Quarter 2026 Results (Form 8-K)

Atlas Energy Solutions Announces First Quarter 2026 Results

Austin, TX - May 4, 2026 - Atlas Energy Solutions Inc. (NYSE: AESI) ("Atlas" or the "Company") today reported financial and operating results for the first quarter ended March 31, 2026.

First Quarter 2026 Highlights

Financial Summary

John Turner, President & CEO, commented, "Our first quarter results were impacted by higher plant operating costs. Following severe winter weather in January that disrupted West Texas oilfield activity, Atlas incurred expenses related to maintenance activities at its flagship Kermit facility beyond its original expectations. We saw a reduction in those higher costs as the quarter progressed and expect improved plant operating costs in the second quarter. With the underlying commodity macro environment having improved rapidly over the course of the first quarter, Atlas remains effectively sold out for the second quarter and expects volumes to remain elevated for the remainder of 2026.

The recently executed incremental 1.4 GW Global Framework Agreement with Caterpillar Inc. elevated Atlas's commercial opportunities almost immediately. With power generating equipment already in short supply, having access to a portfolio of large load, power dense natural gas reciprocating generator sets that are in high demand, has put Atlas in the driver seat for opportunities with customers that were previously unattainable due to lack of visibility on equipment. Atlas has elevated its opportunity set from medium sized Industrial opportunities to now squarely in the crosshairs for data center deployments.

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On April 1, Atlas announced our first behind-the-meter 5-year power purchase agreement for 120 MW, with a subsidiary of an investment-grade technology infrastructure provider. In sum, Atlas is now positioned to meaningfully grow the power business from total expected deployments of 550 MW next year to approximately 2 GW by the end of the decade, which would completely transform the cash flows of the company and create meaningful value to our stakeholders."

Bud Brigham, Executive Chairman, said, "I have never been more excited about the opportunity we are currently facing than what is occurring in the power markets across the United States. Our first contract along with the exciting Global Framework Agreement that we signed recently with CAT is a clear sign that we plan to position Atlas to be a leading provider of private power. We now have surety of supply and scale to become a critical player in the fast-evolving private grid space. We are just now making our presence known to both investors and to customers who are facing grid constraints across Texas and the United States."

First Quarter 2026 Financial Results

First quarter 2026 total revenue increased $16.1 million, or 6.5% when compared to the fourth quarter of 2025, to $265.5 million. Product revenue increased by $3.7 million, or 3.5% when compared to the fourth quarter of 2025, to $108.9 million. Product revenue includes $105.6 million in proppant sales and $3.3 million in power equipment sales. First quarter 2026 proppant product sales volumes were 5.7 million tons, or approximately 7.5% more than levels in the fourth quarter of 2025, which does not include approximately 130 thousand tons of third-party sand purchased to meet customer obligations. Service revenue increased $13.0 million, or 10.3% when compared to the fourth quarter of 2025, to $139.1 million. First quarter 2026 rental revenue decreased $0.6 million, or (3.3%) when compared to fourth quarter of 2025, to $17.5 million.

First quarter 2026 cost of sales (excluding depreciation, depletion and accretion expense) ("cost of sales") increased by $26.7 million, or 14.3% when compared to the fourth quarter of 2025, to $214.0 million. Cost of sales consisted of $74.7 million of proppant plant operating costs, $2.1 million from power equipment costs, $127.0 million related to service costs, $5.9 million related to rental costs and $4.3 million in royalties.

Selling, general and administrative expenses for the first quarter of 2026 increased by $2.0 million when compared to the fourth quarter of 2025, to $35.7 million or 5.9%.

Net (loss) for the first quarter of 2026 was ($47.3) million, and Adjusted EBITDA for the first quarter of 2026 was $28.4 million.

Liquidity, Capital Expenditures and Other

As of March 31, 2026, the Company's total liquidity was $89.5 million, which was comprised of $39.8 million in cash and cash equivalents, and $49.7 million of availability under the Company's 2023 ABL Credit Facility.

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Future Guidance

The Company is providing financial guidance for the second quarter of 2026. Guidance is based on current outlook and plans and is subject to a number of known and unknown uncertainties and risks and constitutes a "forward-looking statement" within the meaning of Section 21E of the Securities Exchange Act of 1934 as further described under the Cautionary Statement below. Actual results may differ materially from the guidance set forth below.

For the second quarter, higher sales volume and improved margin flow-through in sand and logistics, combined with meaningfully increased power contribution, are expected to result in sequentially improved financial results with Adjusted EBITDA expected to total approximately $50 million.

Conference Call Information

The Company will host a conference call to discuss financial and operational results on May 5, 2026 at 9:00am Central Time (10:00am Eastern Time). Individuals wishing to participate in the conference call should dial (877) 407-4133. A live webcast will be available at https://ir.atlas.energy/. Please access the webcast or dial in for the call at least 10 minutes ahead of the start time to ensure a proper connection. An archived version of the conference call will be available on the Company's website shortly after the conclusion of the call.

About Atlas Energy Solutions

Atlas Energy Solutions Inc. (NYSE: AESI) is a leading solutions provider to the energy industry. Atlas's portfolio of offerings includes oilfield logistics, distributed power systems, and the largest proppant supply network in the Permian Basin. With a focus on leveraging technology, automation, and remote operations to enhance efficiencies, Atlas is centered on a core mission of improving human access to the hydrocarbons that power our lives and, by doing so, maximizing value creation for our shareholders.