Atlas Energy Solutions (AESI) To Report Earnings Tomorrow: Here Is What To Expect
Proppant sand producer Atlas Energy Solutions (NYSE:AESI) will be reporting results this Monday after market close. Here’s what investors should know.
Atlas Energy Solutions beat analysts’ revenue expectations last quarter, reporting revenues of $265.6 million, down 10.8% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EBITDA estimates but a significant miss of analysts’ EPS estimates.
Is Atlas Energy Solutions a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Atlas Energy Solutions’s revenue to decline 1.5% year on year, a deceleration from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Atlas Energy Solutions has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Atlas Energy Solutions’s peers in the oilfield services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. World Kinect delivered year-on-year revenue growth of 50.3%, beating analysts’ expectations by 27.7%, and Baker Hughes reported a revenue decline of 2.4%, topping estimates by 3.7%. World Kinect traded up 5.2% following the results while Baker Hughes was also up 5.8%.
Read our full analysis of World Kinect’s results here and Baker Hughes’s results here.
There has been positive sentiment among investors in the oilfield services segment, with share prices up 7% on average over the last month. Atlas Energy Solutions is down 21.6% during the same time and is heading into earnings with an average analyst price target of $20.50 (compared to the current share price of $10.95).
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