Atlas Energy drops on disappointing Q1 results

Atlas Energy Solutions

06/05/2024 13:48

** Atlas Energy Solutions' shares  AESI.N  fall 4.4% to $21
premarket after the logistics provider's Q1 results disappoint
    ** If losses hold, stock will open at a more than 1-month
low 
    ** Co reports Q1 sales of $192.667 mln, lower than the
$203.4 mln analysts were expecting - LSEG 
    ** AESI's Q1 profit of $26.79 mln also misses Street
estimates of $40.77 mln - LSEG data
    ** Co says much of the additional cost incurred in Q1 was as
a result of the acquisition of HI-CRUSH that closed on March 5
    ** All 10 brokerages covering AESI have a "buy" or higher
rating, with a median PT of $26 - LSEG 
    ** Up to last close, stock had risen 27.6% YTD 

 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))