Atlas Energy Solutions Posts $45.1 Million Third-Quarter Loss
Key Facts
Atlas Energy Solutions reported revenue of $267.8 million and a net loss of $45.1 million for the third quarter ended September 30, 2026, according to a company statement. Adjusted EBITDA was $30.3 million for the period. The results came as revenue declined from the second quarter and the net loss widened. The company said proppant sales volumes were 5.4 million tons, at an average selling price of about $16.93 per ton. The statement also reflects the company's focus on maintaining prices in its sand business, alongside plans to expand its power business tied to data centers.
Revenue was $267.778 million in the third quarter, compared with $293.178 million in the second quarter, while the net loss widened to $45.115 million from $25.096 million. Year over year, revenue increased from $259.613 million in the third quarter of 2025 to $267.778 million in the latest period. But the net loss widened over the same comparison, from $23.721 million to $45.115 million. In the second quarter, the company reported revenue of $293.2 million, a net loss of $25.1 million and adjusted EBITDA of $49.5 million. It said at the time that Dune Express volumes and Last Mile service shipments reached a quarterly record of 6 million tons.
The chief executive said the company chose during the quarter to "hold the line on pricing rather than chase uneconomic bids," adding that the decision reduced quarterly sales volumes as expected. Proppant sales totaled 5.4 million tons, while the average selling price was about $16.93 per ton. Management said it made up in the fourth quarter for sales volumes it did not achieve in the third quarter. That puts pricing policy at the center of the company's explanation for the decline in sales volumes, while third-quarter results remained weaker than the prior quarter in revenue and net loss. Atlas operates in two segments, sand and logistics and power, and its sand reserves are in the Permian Basin in Texas, according to its quarterly filing with the Securities and Exchange Commission.
In its power segment, the company announced two cost-reimbursement agreements with a leading artificial intelligence lab to support ancillary equipment and an additional 283 megawatts of capacity for two data center projects. After the quarter ended, it completed a $424 million secured bridge facility provided by Goldman Sachs and Barclays. The company estimated total liquidity of about $499.4 million on October 23, after completing the facility. The estimate included $152.2 million in cash and cash equivalents, $252.8 million available under the bridge facility for specified purchases, and $94.4 million available under its existing 2023 asset-based facility. These figures combine financing completed after quarter-end with liquidity sources the company disclosed in October.
The company expects adjusted EBITDA of between $40 million and $50 million in the fourth quarter of 2026. It said it expects sequential improvement across all of its business lines during the quarter, after making up for sales volumes it did not achieve in the third quarter. It also said it is entering 2027 with more than 23 million tons committed. On the power project, the chief executive said the company's first behind-the-meter generation project in Socorro, Texas, remains on track to begin operations at the end of the first quarter of 2027. The company scheduled a call to discuss its financial and operating results for November 3, 2026, at 9:00 a.m. Central time, or 10:00 a.m. Eastern time.