Form 8-K

8-K — Atlas Energy Solutions Inc.

Accession: 0001193125-26-330740

Filed: 2026-08-03

Period: 2026-08-03

CIK: 0001984060

SIC: 1311 (CRUDE PETROLEUM & NATURAL GAS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — aesi-20260803.htm (Primary)

EX-99.1 (aesi-ex99_1.htm)

GRAPHIC (img266941355_0.gif)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: aesi-20260803.htm · Sequence: 1

8-K

0001984060false00019840602026-08-032026-08-03

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 3, 2026

Atlas Energy Solutions Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware

001-41828

93-2154509

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

5918 W. Courtyard Drive

Suite 500

Austin, Texas

78730

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (512) 220-1200

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Common stock, par value $0.01 per share

AESI

New York Stock Exchange

NYSE Texas, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On August 3, 2026, Atlas Energy Solutions Inc. (the “Company”) issued a press release providing information regarding earnings for the quarter ended June 30, 2026. A copy of the press release is attached hereto as Exhibit 99.1.

Item 7.01 Regulation FD Disclosure.

Investors should note that the Company announces financial information in filings with the U.S. Securities and Exchange Commission, press releases and public conference calls as well as on its website. The Company may use the “Investor Relations” webpage and other sections of its website to communicate with investors, and it is possible that the financial and other information posted there could be deemed to be material information.

In accordance with General Instruction B.2. of Form 8-K, the information contained in Item 2.02, this Item 7.01 and the accompanying Exhibit 99.1 shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, regardless of the general incorporation language of such filing, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit

Number

Description

99.1

Press Release of Atlas Energy Solutions Inc., dated August 3, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ATLAS ENERGY SOLUTIONS INC.

Date:

August 3, 2026

By:

/s/ John Turner

Name: John Turner

Title: President and Chief Executive Officer

EX-99.1

Filename: aesi-ex99_1.htm · Sequence: 2

EX-99.1

Exhibit 99.1

Atlas Energy Solutions Announces Second Quarter 2026 Results

Austin, TX – August 3, 2026 – Atlas Energy Solutions Inc. (NYSE: AESI) (“Atlas” or the “Company”) today reported financial and operating results for the second quarter ended June 30, 2026.

Second Quarter 2026 Highlights

•

Total revenue of $293.2 million, Net loss of $25.1 million and Adj. EBITDA of $49.5 million

•

Net cash used in operating activities of $553 thousand and Adjusted Free Cash Flow of $34.9 million

•

Set quarterly volume record for Dune Express and quarterly shipment record for Last Mile shipments of 6 million tons

•

Completed construction of 26-megawatt ("MW") bridge facility for recently executed behind-the-meter ("BTM") 120-MW private power contract

Financial Summary

Three Months Ended

June 30, 2026

March 31, 2026

June 30, 2025

(unaudited, in thousands, except percentages)

Revenue

293,178

265,583

288,676

Net loss

(25,096

)

(47,264

)

(5,558

)

Net loss Margin

(18

Adjusted EBITDA (1)

49,514

29,913

71,209

Adjusted EBITDA Margin (1)

Net cash provided by (used in) operating activities

(553

)

18,996

88,642

Adjusted Free Cash Flow (1)

34,892

5,289

49,620

Adjusted Free Cash Flow Margin (1)

(1)

Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Free Cash Flow, and Adjusted Free Cash Flow Margin are non-GAAP financials measures. See Non-GAAP Financial Measures for a discussion of these measures and a reconciliation of these measures to our most directly comparable financial measures calculated and presented in accordance with GAAP.

John Turner, President & CEO, commented, "Power is where our growth is going, and we are building it contract-first. Our oilfield power division continues to scale and we expect 180 to 200 MWs deployed by the end of this year. In the second quarter we signed our first long-term behind-the-meter contract, for 120 MWs expected to come online at the end of the first quarter of 2027, and we put mobile power on that site immediately to keep the customer running through construction. That is the whole point. Data center customers want one partner to solve the entire power problem, not a generator supplier, and solving it starts on day one rather than the day the permanent plant is finished. Since signing the Global Framework Agreement with Caterpillar, the opportunities in front of us have grown in scale, duration and scope. We are in active negotiations now, and we will announce equipment placements and economics when contracts are signed, not before."

“Atlas’ status as the leading provider of sand and logistics in the West Texas market has positioned us to be selective about the work going forward we secure as the proppant market begins to recover. With the productive capacity of some of our competitors’ mines potentially impaired by lack of sustaining investment, we believe the sand market is currently close to balance and positioned for further tightening in 2027. Atlas is positioning itself to maximize its advantages both for itself and its key customers in a market where we believe supplier execution will be at a premium.”

Bud Brigham, Executive Chairman, said, “Our excitement and optimism in private power lie in the fact that we have the right equipment, the right strategy and, most importantly, the right people. I could not be more excited about the opportunities we are currently working on and sharing more information about those projects in the not-so-distant future when able.”

Second Quarter 2026 Financial Results

Second quarter 2026 total revenue increased $27.7 million, or 10.4% when compared to the first quarter of 2026, to $293.2 million. Product revenue decreased by $5.4 million, or 5.0% when compared to the first quarter of 2026, to $103.5 million. Second quarter 2026 proppant product sales volumes were 5.6 million tons. Service revenue increased $23.6 million, or 17.0% when compared to the first quarter of 2026, to $162.7 million. Second quarter 2026 rental revenue increased $9.5 million, or 54.3% when compared to the first quarter of 2026, to $27.0 million.

Second quarter 2026 cost of sales (excluding depreciation, depletion and accretion expense) (“cost of sales”) increased by $7.3 million, or 3.4% when compared to the first quarter of 2026, to $221.3 million. Cost of sales consisted of $66.1 million of proppant plant and logistics equipment operating costs, $1.4 million from power equipment costs, $140.7 million related to service costs, $8.8 million related to rental costs and $4.3 million in royalties.

Selling, general and administrative expenses for the second quarter of 2026 increased by $3.7 million when compared to the first quarter of 2026, to $39.4 million or 10.4%.

Net loss for the second quarter of 2026 was $25.1 million, and Adjusted EBITDA for the second quarter of 2026 was $49.5 million.

Liquidity, Capital Expenditures and Other

As of June 30, 2026, the Company’s total liquidity was $292.9 million, which was comprised of $168.2 million in cash and cash equivalents, and $124.7 million of availability under the Company’s 2023 ABL Credit Facility.

Conference Call Information

The Company will host a conference call to discuss financial and operational results on August 4, 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 energy solutions provider, unlocking energy that powers the world’s critical infrastructure. For companies requiring power where grid utilities are unavailable, Atlas can help customers overcome the schedule and capital expense barriers that hinder project and operational success. For oil & gas producers, Atlas helps companies overcome disruptive operational and technical challenges to maximize oilfield completions and operations. From large scale private grid power systems to the world’s most advanced frac sand delivery networks, Atlas delivers the engineering, technology and turnkey project execution expertise that turns energy constraints into advantages.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Statements that are predictive or prospective in nature, that depend upon or refer to future events or conditions or that include the words “may,” “assume,” “forecast,” “position,” “strategy,” “potential,” “continue,” “could,” “will,” “plan,” “project,” “budget,” “predict,” “pursue,” “target,” “seek,” “objective,” “believe,” “expect,” “anticipate,” “intend,” “estimate” and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements. Examples of forward-looking statements include, but are not limited to statements regarding: expectations regarding the leverage profile, including our convertible notes, and expectations of Atlas, our Executed Global Framework Agreement with Caterpillar Inc., our plans and expectations regarding our stock repurchase program; expected expansion and growth opportunities in Atlas’s power business, including our ability to enter into and execute on additional BTM power purchase agreements, long-term power segment, our business strategy, industry, future operations and profitability, expected capital expenditures and the impact of such expenditures on our performance, statements about our financial position, production, revenues and losses, our capital programs, management changes, current and potential future long-term contracts and our future business and financial performance.

Although forward-looking statements reflect our good faith beliefs at the time they are made, we caution you that these forward-looking statements are subject to a number of risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks include but are not limited to: limitations on our financial flexibility due to our existing and any future indebtedness; our ability to successfully execute our share repurchase program or implement future share repurchase programs; higher than expected costs to operate our proppant production and processing facilities or the Dune Express; the amount of proppant we are able to produce, which could be adversely affected by, among other things, operating difficulties and unusual or unfavorable geologic conditions; the volume of proppant we are able to sell and our ability to enter into supply contracts for our proppant on acceptable terms; the prices we are able to charge, and the margins we are able to realize, from our sales of proppant, logistics services, or mobile power generation; hazards customary to the operation of power generation facilities, including transporting, storing and handling fuel, operating industrial, electrical and other equipment, and connecting to high voltage transmission and distribution systems; the demand for and price of proppant and power generation, particularly in the Permian Basin; the success of our electric dredging transition efforts; fluctuations in the demand for certain grades of proppant; the domestic and foreign supply of and demand for oil and natural gas; the effects of actions by, or disputes among or between, members of OPEC+ with respect to production levels or other matters related to the prices of oil and natural gas; changes in the price and availability of natural gas, diesel fuel or electricity that we use as fuel sources for our proppant production facilities and related equipment; development of alternative power generation technologies or changes in the availability of grid power that would reduce the need for mobile power supply, particularly in the Permian Basin; customer concentration, the potential for future consolidation amongst current or potential customers and the possibility that customers may not continue to outsource their power system needs, which could affect demand for our products and services, especially in the power generation industry; the availability of capital and our liquidity; the level of competition from other companies; pending legal or environmental matters; changes in laws and regulations (or the interpretation thereof) or increased public scrutiny related to the proppant production and oil and natural gas industries, silica dust exposure or the environment; facility shutdowns in response to environmental regulatory actions; technical difficulties or failures; liability or operational disruptions due to pit-wall or pond failure, environmental hazards, fires, explosions, chemical mishandling or other industrial accidents; unanticipated ground, grade or water conditions; inability to obtain government approvals or acquire or maintain necessary permits or mining, access or water rights; changes in the price and availability of transportation services; inability of our customers to take delivery; difficulty collecting on accounts receivable; the level of completion activity in the oil and natural gas industry; inability to obtain necessary proppant production or power generation equipment or replacement parts; the amount of water available for processing proppant; any planned or future expansion projects or capital expenditures; our ability to finance equipment, working capital and capital expenditures; inability to successfully grow organically, including through future land acquisitions; inaccuracies in estimates of volumes and qualities of our frac sand reserves; failure to meet our minimum delivery requirements under our supply agreements; material nonpayment or nonperformance by any of our significant customers; development of either effective alternative proppants or new processes that replace hydraulic fracturing; our ability to borrow funds and access the capital markets; our ability to comply with covenants contained in our debt instruments; the potential deterioration of our customers’ financial condition, including defaults resulting from actual or potential insolvencies; changes in tariffs, trade barriers, price and exchange controls and other regulatory requirements, including such changes that may be implemented by U.S. and foreign governments; volatility in political, legal and regulatory environments; changes in global political or economic conditions, including sustained inflation as well as financial market instability or disruptions to the banking system due to bank failures, both generally and in the markets we serve; the impact of geopolitical developments and tensions, war and uncertainty in oil-producing countries (including the invasion of Ukraine by Russia, the ongoing conflict involving Iran and disruptions to shipping through the Strait of Hormuz, continued instability in the Middle East, the recent events in Venezuela and any related political or economic responses and counter-responses or otherwise by various global actors or the general effect on the global economy); health epidemics, such as the COVID-19 pandemic, natural disasters or inclement or hazardous weather conditions, including but not limited to cold weather, droughts, flooding, tornadoes and the physical impacts of climate change; physical, electronic and cybersecurity breaches; the effects of litigation; plans, objectives, expectations and intentions described in this press release that are not historical; and other factors discussed or referenced in our filings made from time to time with the U.S. Securities and Exchange Commission (“SEC”), including those discussed under the heading “Risk Factors” in our Annual Report on Form 10-K, filed with the SEC on February 24, 2026 and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Investor Contact

Kyle Turlington

5918 W Courtyard Drive, Suite #500

Austin, Texas 78730

United States

T: 512-220-1200

IR@atlas.energy

Atlas Energy Solutions Inc.

Condensed Consolidated Statements of Income

(unaudited, in thousands, except per share data)

Three Months Ended

June 30, 2026

March 31, 2026

June 30, 2025

Product revenue

103,538

108,940

126,608

Service revenue

162,670

139,113

146,355

Rental revenue

26,970

17,530

15,713

Total revenue

293,178

265,583

288,676

Cost of sales (excluding depreciation, depletion and accretion expense)

221,297

214,025

195,904

Depreciation, depletion and accretion expense

46,026

45,226

40,633

Gross profit

25,855

6,332

52,139

Selling, general and administrative expense (including stock-based compensation expense of $8,683, $8,442, and $8,290, respectively)

39,411

35,746

34,371

Credit loss expense

—

4,110

Amortization expense of acquired intangible assets

6,441

6,371

6,465

Litigation settlement expense, net

2,550

—

Insurance recovery (gain)

—

(3,326

)

—

Operating income (loss)

(22,547

)

(32,476

)

7,193

Interest (expense), net

(16,240

)

(15,784

)

(14,798

)

Loss on early payoff of lease financing

(6,783

)

—

Other income (expense), net

486

370

Loss before income taxes

(45,529

)

(47,774

)

(7,235

)

Income tax benefit

(20,433

)

(510

)

(1,677

)

Net loss

(25,096

)

(47,264

)

(5,558

)

Net loss per common share

Basic

(0.20

)

(0.38

)

(0.04

)

Diluted

(0.20

)

(0.38

)

(0.04

)

Weighted average common shares outstanding

Basic

124,938

124,626

123,655

Diluted

124,938

124,626

123,655

Atlas Energy Solutions Inc.

Condensed Consolidated Statements of Cash Flows

(unaudited, in thousands)

Three Months Ended

June 30, 2026

March 31, 2026

June 30, 2025

Operating activities:

Net loss

(25,096

)

(47,264

)

(5,558

)

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:

Depreciation, depletion and accretion expense

48,088

46,883

41,717

Amortization expense of acquired intangible assets

6,441

6,371

6,465

Amortization of debt discount

1,457

1,057

1,399

Amortization of deferred financing costs

1,799

Stock-based compensation

8,683

8,442

8,290

Gain on sales of power equipment

(923

)

(1,284

)

—

Loss on early payoff of lease financing

6,783

—

Deferred income tax

(15,816

)

(5,127

)

(3,002

)

Credit loss expense

—

4,110

Other

1,050

(51

)

(108

)

Changes in operating assets and liabilities:

(33,019

)

9,855

35,232

Net cash provided by (used in) operating activities

(553

)

18,996

88,642

Investing activities:

Purchases of property, plant and equipment

(153,830

)

(29,275

)

(40,268

)

Proceeds from sales of power equipment

2,310

3,336

—

Proceeds from insurance recovery

—

3,326

—

Net cash used in investing activities

(151,520

)

(22,613

)

(40,268

)

Financing Activities:

Proceeds from issuance of convertible senior notes

436,500

—

Purchase of capped calls related to convertible senior notes

(49,725

)

—

Proceeds from ABL credit facility

—

25,000

—

Principal payments on term loan borrowings

(6,853

)

(5,190

)

(4,752

)

Payment on Deferred Cash Consideration Note

—

(11,085

)

—

Payment on ABL credit facility

(75,000

)

—

Payments under finance leases

(2,814

)

(2,134

)

(732

)

Repayment of equipment finance notes

(14,870

)

(2,599

)

(1,223

)

Issuance costs associated with debt financing

(1,068

)

—

Premium on early payoff of lease financing

(4,887

)

—

Taxes withheld on vesting equity awards

(774

)

(1,227

)

(426

)

Dividends

—

(30,906

)

Repurchases of Common Stock under share repurchase program

—

(200

)

Net cash provided by (used in) financing activities

280,509

2,765

(38,239

)

Net increase (decrease) in cash and cash equivalents

128,436

(852

)

10,135

Cash and cash equivalents, beginning of period

39,780

40,632

68,674

Cash and cash equivalents, end of period

168,216

39,780

78,809

Atlas Energy Solutions Inc.

Condensed Consolidated Balance Sheets

(in thousands)

As of

June 30, 2026

December 31, 2025

(unaudited)

Assets

Current assets:

Cash and cash equivalents

168,216

40,632

Accounts receivable, including related parties, net

217,515

180,783

Inventories, prepaid expenses and other current assets

93,333

86,099

Total current assets

479,064

307,514

Property, plant and equipment, net

1,540,798

1,540,813

Right-of-use assets

84,580

43,783

Goodwill

152,903

Intangible assets

169,547

182,238

Other long-term assets

128,375

1,177

Total assets

2,555,267

2,228,428

Liabilities and stockholders' equity

Current liabilities:

Accounts payable, including related parties

84,284

69,203

Accrued liabilities and other current liabilities

125,884

101,180

Current portion of long-term debt

52,509

40,681

Total current liabilities

262,677

211,064

Long-term debt, net of discount and deferred financing costs

914,215

538,240

Deferred tax liabilities

189,892

221,622

Other long-term liabilities

75,482

48,578

Total liabilities

1,442,266

1,019,504

Total stockholders' equity

1,113,001

1,208,924

Total liabilities and stockholders’ equity

2,555,267

2,228,428

Non-GAAP Financial Measures

Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Free Cash Flow, Adjusted Free Cash Flow Margin, Adjusted Free Cash Flow Conversion, Maintenance Capital Expenditures and Adjusted Cash SG&A are non-GAAP supplemental financial measures used by our management and by external users of our financial statements such as investors, research analysts and others, in the case of Adjusted EBITDA, to assess our consolidated operating performance on a consistent basis across periods by removing the effects of development activities, provide views on capital resources available to organically fund growth projects and, in the case of Adjusted Free Cash Flow, assess the financial performance of our assets and their ability to sustain dividends or reinvest to organically fund growth projects over the long term without regard to financing methods, capital structure, or historical cost basis.

These measures do not represent and should not be considered alternatives to, or more meaningful than, net income, income from operations, net cash provided by operating activities or any other measure of financial performance presented in accordance with GAAP as measures of our financial performance. Adjusted EBITDA and Adjusted Free Cash Flow have important limitations as analytical tools because they exclude some but not all items that affect net income, the most directly comparable GAAP financial measure. Our computation of Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Free Cash Flow, Adjusted Free Cash Flow Margin, Adjusted Free Cash Flow Conversion, Maintenance Capital Expenditures and Adjusted Cash SG&A may differ from computations of similarly titled measures of other companies.

Non-GAAP Measure Definitions:

•

We define Adjusted EBITDA as net income before depreciation, depletion and accretion, amortization expense of acquired intangible assets, interest expense, income tax expense, stock and unit-based compensation, loss on extinguishment of debt, loss on disposal of assets, insurance recovery (gain), litigation-related costs, net, unrealized commodity derivative gain (loss), other acquisition related costs, and other non-recurring costs. Management believes Adjusted EBITDA is useful because it allows management to more effectively evaluate the Company’s consolidated operating performance and compare the results of its operations from period to period and against our peers without regard to financing method or capital structure. We exclude the items listed above from net income in arriving at Adjusted EBITDA because these amounts can vary substantially from company to company within our industry depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. Certain prior period litigation-related costs, net are now included as an add-back to Adjusted EBITDA in order to conform to the current period presentation and to more accurately describe the Company’s consolidated operating performance and results period over period.

•

We define Adjusted EBITDA Margin as Adjusted EBITDA divided by total revenue.

•

We define Adjusted Free Cash Flow as Adjusted EBITDA less Maintenance Capital Expenditures. Management believes that Adjusted Free Cash Flow is useful to investors as it provides a measure of the ability of our business to generate cash.

•

We define Adjusted Free Cash Flow Margin as Adjusted Free Cash Flow divided by total revenue.

•

We define Adjusted Free Cash Flow Conversion as Adjusted Free Cash Flow divided by Adjusted EBITDA.

•

We define Maintenance Capital Expenditures as capital expenditures excluding growth capital expenditures, reconstruction of previously incurred growth capital expenditures, equipment assets acquired through debt, and asset retirement obligations.

•

We define Adjusted Cash SG&A as selling, general and administrative expenses (“SG&A”) less stock-based compensation, depreciation in SG&A, non-recurring transaction expenses, and certain litigation expenses and insurance proceeds in SG&A.

Atlas Energy Solutions Inc. – Supplemental Information

Reconciliation of Adjusted EBITDA and Adjusted Free Cash Flow to Net Loss

(unaudited, in thousands)

Three Months Ended

June 30, 2026

March 31, 2026

June 30, 2025

Net loss

(25,096

)

(47,264

)

(5,558

)

Depreciation, depletion and accretion expense

48,088

46,883

41,717

Amortization expense of acquired intangible assets

6,441

6,371

6,465

Interest expense

18,103

15,914

14,955

Income tax benefit

(20,433

)

(510

)

(1,677

)

EBITDA

27,103

21,394

55,902

Stock-based compensation

8,683

8,442

8,290

Insurance recovery (gain) (1)

—

(3,326

)

—

Litigation-related costs, net (2)

6,683

1,511

750

Other non-recurring costs (3)

7,005

1,750

4,298

Other acquisition related costs (4)

142

1,969

Adjusted EBITDA

49,514

29,913

71,209

Maintenance Capital Expenditures (5)

14,622

24,624

21,589

Adjusted Free Cash Flow

34,892

5,289

49,620

Atlas Energy Solutions Inc. – Supplemental Information

Reconciliation of Adjusted Free Cash Flow to Net Cash Provided by Operating Activities

(unaudited, in thousands, except percentages)

Three Months Ended

June 30, 2026

March 31, 2026

June 30, 2025

Net cash provided by (used in) operating activities

(553

)

18,996

88,642

Current income tax expense (benefit) (5)

(4,617

)

4,617

1,325

Change in operating assets and liabilities

33,019

(9,855

)

(35,232

)

Cash interest expense (5)

14,847

14,760

13,459

Maintenance capital expenditures (5)

(14,622

)

(24,624

)

(21,589

)

Gain on sales of power equipment

923

1,284

—

Credit loss expense

—

(17

)

(4,110

)

Loss on early payoff of lease financing

(6,783

)

—

Litigation-related costs, net (2)

6,683

1,511

750

Other non-recurring costs (3)

7,005

1,750

4,298

Other acquisition related costs (4)

142

1,969

Insurance recovery (gain) (1)

—

(3,326

)

—

Other

(1,050

)

108

Adjusted Free Cash Flow

34,892

5,289

49,620

Adjusted EBITDA Margin

Adjusted Free Cash Flow Margin

Adjusted Free Cash Flow Conversion

(1)

Represents insurance recovery (gain) related to the dredge mining assets at the Kermit facility.

(2)

Represents litigation-related costs that are unrelated to our core ongoing business operations, including external legal fees and probable settlement fees, net of insurance.

(3)

Other non-recurring costs includes loss on early payoff of lease financing, credit loss expense due to a dispute with a counterparty, costs incurred during our 2025 Term Loan Credit Facility transaction, and other infrequent and unusual costs.

(4)

Represents transactions costs incurred in connection with acquisitions, including fees paid to finance, legal, accounting and other advisors, employee retention and benefit costs, and other operational and corporate costs.

(5)

A reconciliation of these items used to calculate Adjusted Free Cash Flow to comparable GAAP measures is included below.

Atlas Energy Solutions Inc. – Supplemental Information

Reconciliation of Maintenance Capital Expenditures to Purchase of Property, Plant and Equipment

(unaudited, in thousands)

Three Months Ended

June 30, 2026

March 31, 2026

June 30, 2025

Maintenance Capital Expenditures, accrual basis reconciliation:

Purchases of property, plant and equipment

153,830

29,275

40,268

Changes in operating assets and liabilities associated with investing activities, equipment assets acquired through debt, and asset retirement obligations (1)

(3,851

)

37,801

Less: Equipment assets acquired through debt and asset retirement obligations

(3,821

)

(35,470

)

(6,154

)

Less: Growth capital expenditures and reconstruction of previously incurred growth capital expenditures

(131,536

)

(6,982

)

(12,559

)

Maintenance Capital Expenditures, accrual basis

14,622

24,624

21,589

(1)

Positive working capital changes reflect capital expenditures in the current period that will be paid in a future period. Negative working capital changes reflect capital expenditures incurred in a prior period but paid during the period presented. In addition, this amount includes equipment assets acquired through debt and asset retirement obligations.

Atlas Energy Solutions Inc. – Supplemental Information

Reconciliation of Current Income Tax Expense to Income Tax Expense

(unaudited, in thousands)

Three Months Ended

June 30, 2026

March 31, 2026

June 30, 2025

Current tax expense reconciliation:

Income tax benefit

(20,433

)

(510

)

(1,677

)

Less: deferred tax expense

15,816

5,127

3,002

Current income tax expense (benefit)

(4,617

)

4,617

1,325

Atlas Energy Solutions Inc. – Supplemental Information

Cash Interest Expense to Interest Expense, Net

(unaudited, in thousands)

Three Months Ended

June 30, 2026

March 31, 2026

June 30, 2025

Cash interest expense reconciliation:

Interest expense, net

16,240

15,784

14,798

Less: Amortization of debt discount

(1,457

)

(1,057

)

(1,399

)

Less: Amortization of deferred financing costs

(1,799

)

(97

)

(97

)

Less: Interest income

1,863

130

157

Cash interest expense

14,847

14,760

13,459

Atlas Energy Solutions Inc. – Supplemental Information

SG&A to Adjusted Cash SG&A

(unaudited, in thousands)

Three Months Ended

June 30, 2026

March 31, 2026

June 30, 2025

Selling, general and administrative expense

39,411

35,746

34,371

Less: Stock-based compensation expense

8,683

8,442

8,290

Less: Depreciation expense recognized in SG&A

2,066

1,656

1,080

Less: Non-recurring transaction expenses (1)

262

1,892

1,949

Less: Litigation expenses and insurance proceeds recognized in SG&A

4,133

413

750

Adjusted Cash SG&A

24,267

23,343

22,302

(1) Represents other non-recurring costs and other acquisition related costs recorded in SG&A.

GRAPHIC

Filename: img266941355_0.gif · Sequence: 3

Binary file (24492 bytes)

Download img266941355_0.gif

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 6

v3.26.1

Document And Entity Information

Aug. 03, 2026

Cover [Abstract]

Document Type

8-K

Amendment Flag

false

Document Period End Date

Aug. 03, 2026

Entity Registrant Name

Atlas Energy Solutions Inc.

Entity Central Index Key

0001984060

Entity Emerging Growth Company

false

Entity File Number

001-41828

Entity Incorporation, State or Country Code

Entity Tax Identification Number

93-2154509

Entity Address, Address Line One

5918 W. Courtyard Drive

Entity Address, Address Line Two

Suite 500

Entity Address, City or Town

Austin

Entity Address, State or Province

Entity Address, Postal Zip Code

78730

City Area Code

512

Local Phone Number

220-1200

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Common stock, par value $0.01 per share

Trading Symbol

AESI

Security Exchange Name

NYSE

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Cover page.

+ References

No definition available.

+ Details

Name:

dei_CoverAbstract

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 2 such as Street or Suite number

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine2

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration