Atlas Energy Solutions Inc
For the period ended Sep 30, 2024. Filed Oct 29, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 29, 2024
AESI$5.36-3.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(In thousands)
| Nine Months Ended | ||
|---|---|---|
| September 30, | ||
| 2024 | 2023 | |
| Operating activities: | ||
| Net income | $45,542 | $190,443 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation, depletion and accretion expense | 70,865 | 29,368 |
| Amortization expense of acquired intangible assets | 8,573 | — |
| Amortization of debt discount | 2,535 | 469 |
| Amortization of deferred financing costs | 318 | 270 |
| Loss on disposal of assets | 19,672 | — |
| Stock and unit-based compensation | 15,961 | 3,660 |
| Deferred income tax | 10,433 | 19,059 |
| Other | (1,655) | 143 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (22,361) | (28,893) |
| Accounts receivable - related party | — | 868 |
| Inventories | (5,093) | 1,653 |
| Spare part inventories | (3,613) | (4,141) |
| Prepaid expenses and other current assets | (2,387) | (10,355) |
| Other long-term assets | (412) | (1,681) |
| Accounts payable | 27,373 | 3,877 |
| Accounts payable - related parties | (42) | 93 |
| Deferred revenue | (5,460) | — |
| Accrued liabilities and other liabilities | 25,358 | 8,691 |
| Net cash provided by operating activities | 185,607 | 213,524 |
| Investing activities: | ||
| Purchases of property, plant and equipment | (297,552) | (245,693) |
| Hi-Crush acquisition, net of cash acquired | (142,233) | — |
| Proceeds from insurance recovery | 10,000 | — |
| Net cash used in investing activities | (429,785) | (245,693) |
| Financing Activities: | ||
| Principal payments on term loan borrowings | (9,931) | (16,573) |
| Proceeds from borrowings | 198,500 | — |
| Issuance costs associated with debt financing | (1,183) | (4,397) |
| Payments under finance leases | (1,774) | (1,932) |
| Repayment of notes payable | (2,527) | — |
| Dividends and distributions | (70,444) | (42,158) |
| Net proceeds from IPO | — | 303,426 |
| Payment of offering costs | — | (6,020) |
| Member distributions | — | (15,000) |
| Prepayment fee on 2021 Term Loan Credit Facility | — | (2,649) |
| Net cash provided by financing activities | 112,641 | 214,697 |
| Net increase (decrease) in cash and cash equivalents | (131,537) | 182,528 |
| Cash and cash equivalents, beginning of period | 210,174 | 82,010 |
| Cash and cash equivalents, end of period | $78,637 | $264,538 |
| Supplemental cash flow information | ||
| Cash paid during the period for: | ||
| Interest | $27,602 | $10,735 |
| Taxes | $2,275 | $11,403 |
| Supplemental disclosure of non-cash investing activities: | ||
| Property, plant and equipment in accounts payable and accrued liabilities | $44,654 | $46,710 |
| Asset retirement obligations incurred | $6,743 | $847 |
| Hi-Crush acquisition consideration, equity issuance | $189,082 | $— |
| Hi-Crush acquisition consideration, Deferred Cash Consideration Note | $107,189 | $— |
| Equipment assets acquired through debt | $5,012 | $— |
| Redeemable noncontrolling interest cumulative adjustment to redemption value | $— | $185,412 |
| Finance lease assets acquired through debt | $— | $39,454 |
| Finance lease liabilities converted to debt | $— | $42,795 |
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