AUSTIN, Texas—Brian Anthony Leveille, a member of the 10% owner group at Atlas (NYSE:ATCO) Energy Solutions Inc. (NYSE:AESI), has sold 10,000 shares of the company's common stock. The transaction, which took place on October 29, was executed at a price of $21.02 per share, amounting to a total sale value of $210,200.
Following this transaction, Leveille's direct ownership in Atlas Energy Solutions stands at 532,010 shares. The sale was disclosed in a recent SEC filing, highlighting Leveille's continued involvement as a significant shareholder in the company.
In other recent news, Atlas Energy Solutions reported financial growth and operational progress in its third-quarter earnings call. The company's revenue rose by 6% to $304 million, with an adjusted EBITDA of $71.1 million. Atlas Energy Solutions also announced a dividend increase to $0.24 per share and a $200 million share repurchase program, signaling its strong financial position and dedication to shareholder value.
The company sold 6.0 million tons of product, generating $145.3 million in sales, and service revenues were $159.1 million for the quarter. Despite facing challenges such as a fire at the Kermit facility and damage to a new dredge, Atlas remains optimistic about its Dune Express project, which is expected to enhance proppant delivery in the Permian Basin.
The company anticipates a slowdown in exploration and production activities during the holiday season but expects operational expenses to normalize by year-end. Atlas Energy Solutions also projects that its service margins will align with historical averages. These are among the recent developments for the company, which continues to balance capital returns while managing debt, as per the Q&A highlights from the earnings call.
InvestingPro Insights
While Brian Anthony Leveille's recent sale of 10,000 shares might raise eyebrows, it's important to view this transaction within the broader context of Atlas Energy Solutions Inc.'s (NYSE:AESI) financial performance and market position.
According to InvestingPro data, Atlas Energy Solutions boasts a market capitalization of $2.19 billion, reflecting its substantial presence in the energy sector. The company's revenue growth has been particularly impressive, with a 93.15% increase in quarterly revenue as of Q3 2024. This robust growth trajectory aligns with an InvestingPro Tip indicating that analysts anticipate continued sales growth in the current year.
Despite Leveille's sale, the company's financial health appears solid. Atlas Energy Solutions operates with a moderate level of debt, as noted by another InvestingPro Tip. This prudent financial management is further supported by the company's profitability over the last twelve months and analysts' predictions of continued profitability this year.
Investors should also consider the company's attractive dividend yield of 5.16%, which has seen a remarkable 70% growth in the last twelve months. This generous dividend policy, coupled with the company's strong revenue growth, may offset concerns about insider selling.
For those seeking a more comprehensive analysis, InvestingPro offers 6 additional tips on Atlas Energy Solutions, providing deeper insights into the company's financial outlook and market position.
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