Atlas Energy Solutions Inc. (AESI), a provider of logistics services to the energy industry, announced on Thursday a revision in its third- quarter outlook, citing higher plant operating expenses of the Dune Express.
For the third quarter, the company now expects adjusted EBITDA of $70 to $75 million, on revenue of $300 million to $310 million.
Earlier, the company was expecting third-quarter financial results to meaningfully improve sequentially.
The company further revealed that the commissioning of the Dune Express project started early this week. The 42-mile long, fully electric conveyor system that is expected to transform proppant logistics in the Permian Basin.
The commercial transportation of proppant, a solid material, into the Delaware Basin is scheduled to begin in the late fourth quarter.
Proppant sales volumes are expected to be approximately 6 million tons, for the year. The company also expects to book an asset write-down of around $9 million related to one of its dredge mining assets.
John Turner, CEO of Atlas Energy, said: "Ultimately, we expect the investments made this quarter to further differentiate Atlas's position as the low-cost supplier of logistically advantaged premium proppant in the Permian Basin during 2025 and beyond. We are just months away from beginning to realize our goal of taking thousands of trucks off public roads, making the Permian Basin a safer, more reliable, and environmentally cleaner place to live and work."
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