Proppant sand producer Atlas Energy Solutions (NYSE: AESI) will be reporting results this Monday after the bell. Here’s what to look for.
Atlas Energy Solutions beat analysts’ revenue expectations last quarter, reporting revenues of $249.4 million, down 8.1% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ EBITDA 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 13.8% year on year, a reversal from the 54.5% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to 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 Q1 results, giving us a hint as to what we can expect. Noble Corporation’s revenues decreased 10.2% year on year, beating analysts’ expectations by 6.8%, and World Kinect reported revenues up 2.5%, topping estimates by 10.4%. Noble Corporation traded up 8.2% following the results while World Kinect was also up 10.9%.
Read our full analysis of Noble Corporation’s results here and World Kinect’s results here.
There has been positive sentiment among investors in the oilfield services segment, with share prices up 4.1% on average over the last month. Atlas Energy Solutions is up 55.4% during the same time and is heading into earnings with an average analyst price target of $15.36 (compared to the current share price of $17.34).
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