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Atlas Energy Solutions Inc. (NYSE:AESI), a $1.33 billion market cap company that has seen its shares decline over 51% year-to-date, reported Tuesday that Chris Scholla has departed from his position as Executive Vice President and President, Sand and Logistics, effective the same day. The announcement was made in a statement based on a filing with the Securities and Exchange Commission. According to InvestingPro analysis, the company currently appears undervalued based on its Fair Value assessment.
According to the company, Mr. Scholla’s departure qualifies as a “Qualifying Termination” under Atlas Energy Solutions’ Management Change in Control Severance Plan. The company stated that Mr. Scholla will receive post-employment benefits in accordance with the Severance Plan, provided that he meets the required terms and conditions, including signing a participant agreement and general release.
During the search for a successor, John Turner, President and Chief Executive Officer of Atlas Energy Solutions , will assume leadership of the company’s sand and logistics operations.
No additional details regarding the reason for Mr. Scholla’s departure or the timing of a replacement search were disclosed in the filing. The information is based on a press release statement included in the company’s SEC filing.
In other recent news, Atlas Energy Solutions Inc. reported its second-quarter 2025 earnings, revealing a significant miss on earnings per share (EPS) but a strong revenue beat. The company posted an EPS of -$0.04, falling short of the forecasted $1.08, marking a surprise of -103.7%. However, Atlas Energy achieved actual revenue of $288.7 million, surpassing the expected $239.17 million by 20.71%. Meanwhile, RBC Capital downgraded Atlas Energy from Outperform to Sector Perform, citing concerns over the soft Permian sand supply-demand balance. RBC Capital also lowered its price target for Atlas Energy to $13.00 from $16.00. Stifel, on the other hand, maintained a Buy rating on Atlas Energy but reduced its price target to $14.00 from $14.50, following the weaker-than-anticipated second-quarter results. In a separate development, Kodiak AI announced the completion of its business combination with Ares Acquisition Corporation II. The combined company, renamed from Kodiak Robotics, Inc., will begin trading on the Nasdaq Stock Market under the ticker symbols "KDK" for common stock and "KDKRW" for public warrants.
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