In a recent filing with the Securities and Exchange Commission, Atlas (NYSE:ATCO) Energy Solutions Inc. (NYSE:AESI) disclosed that Gregory M. Shepard, a member of the 10% owner group, purchased 13,363 shares of the company's common stock. The transaction, dated November 4, 2024, was executed at a price of $19.19 per share, amounting to a total value of $256,435. Following this acquisition, Shepard's total ownership in the company stands at 7,619,055 shares.
In other recent news, Atlas Energy Solutions reported notable growth and operational advancements in their latest earnings call. The company's revenue climbed to $304 million, a 6% rise from the last quarter, alongside an adjusted EBITDA of $71.1 million. In addition, Atlas announced a dividend increase and a $200 million share repurchase program, further demonstrating its financial stability and dedication to shareholder returns.
The company sold 6.0 million tons of product, generating $145.3 million in sales, while service revenues for the quarter were $159.1 million. Atlas also reported progress on the Dune Express project, aimed to improve proppant delivery in the Permian Basin. However, the company anticipates a slowdown in E&P activities over the holidays but expects operational expenses to normalize by year-end.
In terms of future expectations, Atlas predicts a stable crew count for November with a potential decrease in December. The company's Board has approved a $200 million share repurchase program over the next two years, while Q4 EBITDA is expected to remain flat or decrease slightly compared to Q3. Despite facing challenges such as a fire at the Kermit facility, Atlas remains optimistic about its long-term profitability, particularly with the completion of the Dune Express project.
InvestingPro Insights
Atlas Energy Solutions Inc. (NYSE:AESI) has been showing strong financial performance, aligning with Gregory M. Shepard's recent insider purchase. According to InvestingPro data, the company's revenue growth has been impressive, with a 93.15% increase in quarterly revenue as of Q3 2024. This robust growth is complemented by a healthy gross profit margin of 35.1% over the last twelve months.
InvestingPro Tips suggest that analysts anticipate sales growth in the current year, which could be a driving factor behind Shepard's decision to increase his stake. The company's profitability is also noteworthy, with InvestingPro data showing an operating income margin of 17.92% over the last twelve months.
Another attractive aspect for investors is Atlas Energy's dividend yield, which stands at 5.0%. This, coupled with a significant dividend growth of 68.33% over the last twelve months, may indicate management's confidence in the company's financial stability and future prospects.
It's worth noting that while the stock has seen a 21.1% year-to-date price total return, it's currently trading at 86.08% of its 52-week high. This could suggest potential upside, especially considering that the InvestingPro Fair Value for AESI is estimated at $23.87, higher than its previous closing price of $20.18.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights on Atlas Energy Solutions. In fact, there are 5 more InvestingPro Tips available for AESI, providing a deeper understanding of the company's financial health and market position.
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