Latest news with #JohnTurner
Business Wire
04-08-2025
- Business
- Business Wire
Atlas Energy Solutions Announces Second Quarter 2025 Results
AUSTIN, Texas--(BUSINESS WIRE)--Atlas Energy Solutions Inc. (NYSE: AESI) ('Atlas' or the 'Company') today reported financial and operating results for the second quarter ended June 30, 2025. Second Quarter 2025 Highlights Total sales of $288.7 million Net (loss) of ($5.6) million ((1.9)% Net Income Margin) Adjusted EBITDA of $70.5 million (24.4% Adjusted EBITDA Margin) (1) Net cash provided by operating activities of $88.6 million Adjusted Free Cash Flow of $48.9 million (16.9% Adjusted Free Cash Flow Margin) (1) Maintained quarterly dividend of $0.25 per share, payable August 21, 2025 Subsequent to quarter close, Atlas acquired PropFlow, a patented sand filtration system designed to eliminate debris from proppant at the wellsite Financial Summary Three Months Ended June 30, 2025 March 31, 2025 June 30, 2024 (unaudited, in thousands, except percentages) Revenue $ 288,676 $ 297,591 $ 287,518 Net income (loss) $ (5,558 ) $ 1,219 $ 14,837 Net Income (loss) Margin (2 %) 0 % 5 % Adjusted EBITDA $ 70,459 $ 74,291 $ 79,072 Adjusted EBITDA Margin 24 % 25 % 28 % Net cash provided by (used in) operating activities $ 88,642 $ (7,450 ) $ 60,856 Adjusted Free Cash Flow $ 48,870 $ 58,758 $ 73,654 Adjusted Free Cash Flow Margin 17 % 20 % 26 % Expand (1) Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Free Cash Flow and Adjusted Free Cash Flow Margin are non-GAAP financials measures. See Non-GAAP Financial Measures for a discussion of these measures and a reconciliation of these measures to our most directly comparable financial measures calculated and presented in accordance with GAAP. Expand John Turner, President & CEO, commented, 'Despite the slowdown in activity across the Permian Basin, Atlas delivered strong free cash flow in the second quarter of 2025, a testament to Atlas's operational excellence. This was our first full quarter of contribution from our new Power segment, and we are excited about this business' potential as we evaluate opportunities in production support, micro-grid, and commercial and industrial applications. The Dune Express is now fully operational, and, today, a majority of the sand deliveries from our Kermit plant are taking place at our End of Line and State Line facilities.' 'While the West Texas completions market in the second half of 2025 is expected to be challenging, Atlas's status as the low-cost producer with an advantaged logistics network positions us well to gain market share and enhance our position as the leading provider of proppant and logistics in the Permian Basin. Combined with our burgeoning Power platform, Atlas is well positioned for growth in 2026 and beyond.' Second Quarter 2025 Financial Results Second quarter 2025 total sales decreased $8.9 million, or 3.0% when compared to the first quarter of 2025, to $288.7 million. Product sales decreased $13.4 million, or 9.6% when compared to the first quarter of 2025, to $126.3 million. Second quarter 2025 sales volumes decreased to 5.4 million tons, or approximately 4.0% when compared to the first quarter of 2025. Service sales decreased $4.2 million, or 2.8% when compared to the first quarter of 2025, to $146.4 million. Second quarter 2025 rental revenue increased $8.7 million, or 119.2% when compared to first quarter of 2025, to $16.0 million. Second quarter 2025 cost of sales (excluding depreciation, depletion and accretion expense) ('cost of sales') decreased by $10.2 million, or 4.9% when compared to the first quarter of 2025, to $195.9 million. Cost of sales consisted of $60.9 million of plant operating costs, $123.9 million related to service costs, $5.9 million related to rental costs and $5.2 million in royalties. Selling, general and administrative expenses for the second quarter of 2025 remained consistent when compared to the first quarter of 2025, at $34.4 million. Net (loss) for the second quarter of 2025 was ($5.6) million, and Adjusted EBITDA for the second quarter of 2025 was $70.5 million. Liquidity, Capital Expenditures and Other As of June 30, 2025, the Company's total liquidity was $203.6 million, which was comprised of $78.8 million in cash and cash equivalents, and $124.8 million of availability under the Company's 2023 ABL Credit Facility. Quarterly Cash Dividend On August 3, 2025, the Board of Directors of Atlas declared a dividend to common stockholders of $0.25 per share, or approximately $30.9 million in aggregate to shareholders. The dividend will be payable on August 21, 2025 to shareholders of record at the close of business on August 14, 2025. Future Guidance The Company is providing financial guidance for the third quarter of 2025. Guidance is based on current outlook and plans and is subject to a number of known and unknown uncertainties and risks and constitutes 'forward-looking statements' within the meaning of Section 21E of the Securities Exchange Act of 1934 as further described under the Cautionary Statement below. Actual results may differ materially from the guidance set forth below. For the third quarter of 2025, management expects a sequential increase in proppant sales volume and a greater contribution from our Power segment to be offset by a decrease in average proppant sales prices and short-fall payments, resulting in a modest decline in consolidated revenue and adjusted EBITDA. Conference Call Information The Company will host a conference call to discuss financial and operational results on Tuesday, August 5, 2025 at 9:00am Central Time (10:00am Eastern Time). Individuals wishing to participate in the conference call should dial (877) 407-4133. A live webcast will be available at Please access the webcast or dial in for the call at least 10 minutes ahead of the start time to ensure a proper connection. An archived version of the conference call will be available on the Company's website shortly after the conclusion of the call. The Company will also post an updated investor presentation titled 'Investor Presentation August 2025', in addition to a "August 2025 Growth Projects Update" video, at in the "Presentations' section under 'News & Events' tab on the Company's Investor Relations webpage prior to the conference call. About Atlas Energy Solutions Atlas Energy Solutions Inc. (NYSE: AESI) is a leading solutions provider to the energy industry. Atlas's portfolio of offerings includes oilfield logistics, distributed power systems, and the largest proppant supply network in the Permian Basin. With a focus on leveraging technology, automation, and remote operations to enhance efficiencies, Atlas is centered on a core mission of improving human access to the hydrocarbons that power our lives and, by doing so, maximizing value creation for our shareholders. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the 'Securities Act'), and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'). Statements that are predictive or prospective in nature, that depend upon or refer to future events or conditions or that include the words 'may,' 'assume,' 'forecast,' 'position,' 'strategy,' 'potential,' 'continue,' 'could,' 'will,' 'plan,' 'project,' 'budget,' 'predict,' 'pursue,' 'target,' 'seek,' 'objective,' 'believe,' 'expect,' 'anticipate,' 'intend,' 'estimate' and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements. Examples of forward-looking statements include, but are not limited to statements regarding: the anticipated financial performance of Atlas following the recent acquisition of Moser Energy Systems (the 'Moser Acquisition'), expected accretion to Adjusted EBITDA, expectations regarding the leverage and dividend profile and expectations of Atlas, our plans and expectations regarding our stock repurchase program; the expected synergies and efficiencies to be achieved as a result of the Moser Acquisition; expansion and growth of Atlas's business following the Moser Acquisition, our business strategy, industry, future operations and profitability, expected capital expenditures and the impact of such expenditures on our performance, statements about our financial position, production, revenues and losses, our capital programs, management changes, current and potential future long-term contracts and our future business and financial performance. Although forward-looking statements reflect our good faith beliefs at the time they are made, we caution you that these forward-looking statements are subject to a number of risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks include but are not limited to: uncertainties as to whether the Moser Acquisition will achieve its anticipated benefits and projected synergies within the expected time period or at all; Atlas's ability to integrate Moser's operations in a successful manner and in the expected time period; unforeseen or unknown liabilities, future capital expenditures and potential litigation relating to the Moser Acquisition; unexpected future capital expenditures; our ability to successfully execute our stock repurchase program or implement future stock repurchase programs; commodity price volatility, including volatility stemming from the ongoing armed conflicts between Russia and Ukraine and Israel and Hamas; increasing hostilities and instability in the Middle East; adverse developments affecting the financial services industry; changes in tariffs, trade barriers, price and exchange controls and other regulatory requirements, including such changes that may be implemented by U.S. and foreign governments; our ability to complete growth projects, on time and on budget; the risk that stockholder litigation in connection with our recent corporate reorganization may result in significant costs of defense, indemnification and liability; changes in general economic, business and political conditions, including changes in the financial markets; transaction costs; actions of OPEC+ to set and maintain oil production levels; the level of production of crude oil, natural gas and other hydrocarbons and the resultant market prices of crude oil; inflation; environmental risks; operating risks; regulatory changes; lack of demand; market share growth; the uncertainty inherent in projecting future rates of reserves; production; cash flow; access to capital; the timing of development expenditures; the ability of our customers to meet their obligations to us; our ability to maintain effective internal controls; and other factors discussed or referenced in our filings made from time to time with the U.S. Securities and Exchange Commission ('SEC'), including those discussed under the heading 'Risk Factors' in our Annual Report on Form 10-K, filed with the SEC on February 25, 2025 and Quarterly Report on Form 10-Q, filed with the SEC on May 6 2025, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Atlas Energy Solutions Inc. Condensed Consolidated Statements of Cash Flows (unaudited, in thousands) Three Months Ended June 30, 2025 March 31, 2025 June 30, 2024 Operating activities: Net income (loss) $ (5,558 ) $ 1,219 $ 14,837 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation, depletion and accretion expense 41,717 38,264 25,886 Amortization expense of acquired intangible assets 6,465 4,785 3,768 Amortization of debt discount 1,399 1,109 1,083 Amortization of deferred financing costs 97 106 118 Loss on disposal of assets — — 11,098 Stock-based compensation 8,290 6,518 5,466 Deferred income tax (3,002 ) 1,379 2,758 Credit loss expense 4,110 — — Other (108 ) (122 ) (744 ) Changes in operating assets and liabilities: 35,232 (60,708 ) (3,414 ) Net cash provided by (used in) operating activities 88,642 (7,450 ) 60,856 Investing activities: Purchases of property, plant and equipment (40,268 ) (52,389 ) (115,790 ) Acquisition, net of cash acquired — (181,511 ) — Proceeds from insurance recovery — 5,398 — Net cash used in investing activities (40,268 ) (228,502 ) (115,790 ) Financing Activities: Proceeds from equity offering, net of issuance costs — 253,070 — Proceeds from term loan borrowings — 188,805 3,039 Principal payments on term loan borrowings (4,752 ) (4,725 ) (4,217 ) Payment on ABL credit facility — (70,000 ) — Payment on Deferred Cash Consideration Note — (101,252 ) — Payments under finance leases (732 ) (959 ) (846 ) Repayment of equipment finance notes (1,223 ) (841 ) (855 ) Repurchases of Common Stock under share repurchase program (200 ) — — Dividends (30,906 ) (30,435 ) (24,168 ) Taxes withheld on vesting RSUs (426 ) (595 ) — Issuance costs associated with debt financing — (146 ) (416 ) Net cash provided (used in) by financing activities (38,239 ) 232,922 (27,463 ) Net increase (decrease) in cash and cash equivalents 10,135 (3,030 ) (82,397 ) Cash and cash equivalents, beginning of period 68,674 71,704 187,120 Cash and cash equivalents, end of period $ 78,809 $ 68,674 $ 104,723 Expand Atlas Energy Solutions Inc. Condensed Consolidated Balance Sheets (in thousands) As of As of June 30, 2025 December 31, 2024 (unaudited) Assets Current assets: Cash and cash equivalents $ 78,809 $ 71,704 Accounts receivable, net 185,978 165,967 Inventories, prepaid expenses and other current assets 69,672 51,747 Total current assets 334,459 289,418 Property, plant and equipment, net 1,551,241 1,486,246 Right-of-use assets 23,271 18,666 Goodwill 137,326 68,999 Intangible assets 198,155 105,867 Other long-term assets 3,323 3,456 Total assets $ 2,247,775 $ 1,972,652 Liabilities and stockholders' equity Current liabilities: Accounts payable, including related parties 90,663 119,244 Accrued liabilities and other current liabilities 87,730 80,085 Current portion of long-term debt 36,355 43,736 Total current liabilities 214,748 243,065 Long-term debt, net of discount and deferred financing costs 492,069 466,989 Deferred tax liabilities 240,812 206,872 Other long-term liabilities 28,814 19,170 Total liabilities 976,443 936,096 Total stockholders' equity 1,271,332 1,036,556 Total liabilities and stockholders' equity $ 2,247,775 $ 1,972,652 Expand Non-GAAP Financial Measures Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Free Cash Flow, Adjusted Free Cash Flow Margin, Adjusted Free Cash Flow Conversion and Maintenance Capital Expenditures are non-GAAP supplemental financial measures used by our management and by external users of our financial statements such as investors, research analysts and others, in the case of Adjusted EBITDA, to assess our consolidated operating performance on a consistent basis across periods by removing the effects of development activities, provide views on capital resources available to organically fund growth projects and, in the case of Adjusted Free Cash Flow, assess the financial performance of our assets and their ability to sustain dividends or reinvest to organically fund growth projects over the long term without regard to financing methods, capital structure, or historical cost basis. These measures do not represent and should not be considered alternatives to, or more meaningful than, net income, income from operations, net cash provided by operating activities or any other measure of financial performance presented in accordance with GAAP as measures of our financial performance. Adjusted EBITDA and Adjusted Free Cash Flow have important limitations as analytical tools because they exclude some but not all items that affect net income, the most directly comparable GAAP financial measure. Our computation of Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Free Cash Flow, Adjusted Free Cash Flow Margin, Adjusted Free Cash Flow Conversion and Maintenance Capital Expenditures may differ from computations of similarly titled measures of other companies. Non-GAAP Measure Definitions: We define Adjusted EBITDA as net income before depreciation, depletion and accretion, amortization expense of acquired intangible assets, interest expense, income tax expense, stock and unit-based compensation, loss on extinguishment of debt, loss on disposal of assets, insurance recovery (gain), unrealized commodity derivative gain (loss), other acquisition related costs, and other non-recurring costs. Management believes Adjusted EBITDA is useful because it allows management to more effectively evaluate the Company's consolidated operating performance and compare the results of its operations from period to period and against our peers without regard to financing method or capital structure. We exclude the items listed above from net income in arriving at Adjusted EBITDA because these amounts can vary substantially from company to company within our industry depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. Certain prior period non-recurring costs of goods sold are now included as an add-back to adjusted EBITDA in order to conform to the current period presentation and to more accurately describe the Company's consolidated operating performance and results period over period. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by total sales. We define Adjusted Free Cash Flow as Adjusted EBITDA less Maintenance Capital Expenditures. Management believes that Adjusted Free Cash Flow is useful to investors as it provides a measure of the ability of our business to generate cash. We define Adjusted Free Cash Flow Margin as Adjusted Free Cash Flow divided by total sales. We define Adjusted Free Cash Flow Conversion as Adjusted Free Cash Flow divided by Adjusted EBITDA. We define Maintenance Capital Expenditures as capital expenditures excluding growth capital expenditures, reconstruction of previously incurred growth capital expenditures, equipment assets acquired through debt, and asset retirement obligations. Certain prior period equipment assets acquired through debt and asset retirement obligations have been removed from capital expenditures in order to conform to the current period presentation and to more accurately describe the Company's consolidated operating performance and results period-over-period. Atlas Energy Solutions Inc. – Supplemental Information Reconciliation of Adjusted Free Cash Flow to Net Cash Provided by Operating Activities (unaudited, in thousands, except percentages) Three Months Ended June 30, 2025 March 31, 2025 June 30, 2024 Net cash provided by (used in) operating activities $ 88,642 $ (7,450 ) $ 60,856 Current income tax expense (benefit) (5) 1,325 914 308 Change in operating assets and liabilities (35,232 ) 60,708 3,414 Cash interest expense (5) 13,459 11,831 10,813 Maintenance capital expenditures (5) (21,589 ) (15,533 ) (5,418 ) Credit loss expense (4,110 ) — — Other non-recurring costs (3) 4,298 849 7,049 Other acquisition related costs (4) 1,969 7,317 5,888 Insurance recovery (gain) (2) — — (10,000 ) Other 108 122 744 Adjusted Free Cash Flow $ 48,870 $ 58,758 $ 73,654 Adjusted EBITDA Margin 24 % 25 % 28 % Adjusted Free Cash Flow Margin 17 % 20 % 26 % Adjusted Free Cash Flow Conversion 69 % 79 % 93 % Expand (1) Represents loss on disposal of assets as a result of the fire at one of the Kermit plants that caused damage to the physical condition of the Kermit asset group. (2) Represents insurance recovery (gain) deemed collectible and legally enforceable related to the fire at one of the Kermit plants. (3) Other non-recurring costs includes costs incurred during our 2025 Term Loan Credit Facility transaction, credit loss expense due to a dispute with a counterparty, reorganization under a new public holding company (the 'Up-C Simplification'), temporary loadout, and other infrequent and unusual costs. (4) Represents transactions costs incurred in connection with acquisitions, including fees paid to finance, legal, accounting and other advisors, employee retention and benefit costs, and other operational and corporate costs. (5) A reconciliation of these items used to calculate Adjusted Free Cash Flow to comparable GAAP measures is included below. Expand (1) Positive working capital changes reflect capital expenditures in the current period that will be paid in a future period. Negative working capital changes reflect capital expenditures incurred in a prior period but paid during the period presented. In addition, this amount includes equipment assets acquired through debt and asset retirement obligations. Expand Expand Expand
Daily Mail
02-08-2025
- Entertainment
- Daily Mail
Tragic reason why Elvis super fan's abandoned £325k 'mini Graceland' home was left to rot with vintage car graveyard outside
The abandoned home of an Elvis Presley super fan has been left to rot after he tragically died from dementia. John Turner spent 24 years creating his own mini version of Graceland – with memorabilia paying homage to the iconic singer adorning every wall. He invested thousands of pounds cramming his five-bedroomed home, in Leigh, Greater Manchester with all things The King. But John's most prized possessions were his Elvis autograph and a 1959 blue Cadillac, originally from Las Vegas. Today, the house lies in tatters. Neighbours said that John moved out of his home around a decade ago – opting to rent out the property complete with his Elvis shrine. But the most recent tenant vanished abandoning the property and leaving all his possessions behind. John moved into a care home after suffering with dementia and died last year. The house, which has now been emptied and boarded up along with the cars removed, has recently been sold for a guide price of £325,000. The detached house – set within its own grounds – has become a decaying shell. AFTER: The vintage cars left behind by John's tenant were attacked with some broken into and others stripped of parts Ceilings have collapsed after water poured through the roof and mould covers the walls where the pristine vintage record collection once took pride of place. The flamboyant rooms and interiors are a dilapidated wreck and cluttered with junk. Furniture, settees, TVs, jukeboxes and Elvis memorabilia have been damaged beyond repair – covered in a thick layer of dust and grime. Furniture, settees, TVs, jukeboxes and Elvis memorabilia have been damaged beyond repair – covered in a thick layer of dust and grime. The glitz and glamour of the Presley bar is no more but remains fully stocked with out-of-date booze. Rotting food and drink sitting in the fridge fills the kitchen with a vile odour, while moth-eaten clothes still hang in the wardrobes. Stagnant water remains in the empty fish tanks. The gleaming Cadillac – once parked proudly in the driveway – has been replaced with a graveyard of classic cars. The impressive fleet, consisting of a Lotus Elise, two rare Toyota MR Mark 1, a classic Mercedes SLK 55 AMG and vintage Triumph, belonged to the tenant. It is unclear why he left the valuable vehicles. The tragic ending to the house was discovered by urban explorers. Since they posted footage online, the house has been targeted by looters, who ransacked the once impressive property. Teenagers broke into the garages, causing mayhem for neighbours. One resident said: 'The tenant lived there for years, and he loved his cars. 'He was obsessed and more and more would appear on the drive. 'Then one day he was gone. He just left leaving everything behind.' Neighbours added that the house has stood empty for more than a year. John spoke to the Daily Mail in 2008 about his obsession with Elvis. He revealed how he regularly threw rock 'n' roll themed parties, with his friend and Elvis lookalike Ron Highley performing and trophy-winning dancers Glynn Dobinson and Joan Bibby jitterbugging under the mirror ball on the kitchen floor. His home was a shrine to Suspicious Minds singer from coasters and cushions to life-size cardboard cut-outs standing on guard outside the toilet door. John even built a Presley-themed bar – crammed with rock 'n' roll memorabilia – where he held rock n roll themed parties to entertain pals. Neon signs illuminated the Presley bar, which housed an Elvis one-armed bandit. There were also two original jukeboxes, a 1960 Rock-ola and 1955 Wurlitzer, took centre stage, and on top of the Wurlitzer sits an old Teddy once cuddled by the King on stage which John bought off the internet. He said: 'I've been devoted to him since I first heard his music and that moment literally changed my life. I've been collecting Elvis stuff ever since. 'I've visited Graceland - his home in Memphis - three times, which I found fascinating. It was very emotional for me. 'I have a photograph of me crying at his grave.' AFTER: Detritus from raves and squats is left strewn across the floor of John's living room Elvis loved being at home in his mansion and similarly, John was happiest spending time in the house he bought in 1984. John said: 'I've also enjoyed dressing the interior of the house and creating a look for each room. 'I call the hallway Rock and Roll Alley and I have the Presley Bar where I serve drinks and put on music for my friends. 'No matter how many unusual things I pick up on my travels I always seem to find a place for them. 'The rooms in the house have evolved and Elvis is the key to it all. I love having his image all around me. I just can't stop putting him up although I am running out of wall space!' John added: 'The kitchen has been designed for dancing.' 'The sign above the archway says 'At The Hop' and that's exactly what it is. 'I stand behind the Presley Bar and keep the music playing. We have some great parties. Some of them stretch to three-day events. 'Friends bring their sleeping bags, we dress up and dance until we drop!' 'I love sharing the house with friends.
Business Wire
29-07-2025
- Business
- Business Wire
Atlas Energy Solutions Announces Acquisition of PropFlow
AUSTIN, Texas--(BUSINESS WIRE)--Atlas Energy Solutions Inc. (NYSE: AESI) ('Atlas' or the 'Company') today announced the acquisition of Propflow, LLC ('PropFlow'), a leading provider of patented on-wellsite proppant filtration technology. The transaction, which closed on July 28, 2025, is intended to strengthen Atlas' existing proppant handling capabilities as part of the Company's vision of mine-to-blender proppant logistics. PropFlow provides a cutting-edge on-wellsite proppant filtration system that eliminates proppant debris at the wellsite, reducing frac equipment maintenance costs and downtime and aiding in 24/7 pumping operations. 'We are thrilled to welcome PropFlow to the Atlas family,' said John Turner, Atlas' President & Chief Executive Officer. 'The addition of PropFlow is just another step in our mission to drive higher completion efficiencies for our customers. We anticipate that PropFlow's patented filtration system, combined with Atlas' high-quality sand and logistics platform, will allow Atlas to provide customers with the supporting infrastructure to pump at rates that surpass historical benchmarks. Atlas continues to look for ways to generate the next wave of evolution in well completion methodologies in an effort to drive better returns for our customers and Atlas shareholders.' About Atlas Energy Solutions Atlas Energy Solutions Inc. (NYSE: AESI) is a leading solutions provider to the energy industry. Atlas's portfolio of offerings includes oilfield logistics, distributed power systems, and the largest proppant supply network in the Permian Basin. With a focus on leveraging technology, automation, and remote operations to enhance efficiencies, Atlas is centered on a core mission of improving human access to the hydrocarbons that power our lives and, by doing so, maximizing value creation for our shareholders. About Propflow, LLC PropFlow's innovative and patented technology is designed to eliminate debris from proppant at the wellsite. The company's mission is to improve proppant delivery, reduce frac equipment maintenance costs and downtime, minimize the total proppant cost to the end user, and offer customers a viable path to reduce carbon emissions. Pre-transaction, PropFlow was headquartered in Little Rock, Arkansas with operations based in Odessa, Texas. PropFlow was founded in 2021 by Britt Mitchell and Chris Martin. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the 'Securities Act'), and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'). Statements that are predictive or prospective in nature, that depend upon or refer to future events or conditions or that include the words 'may,' 'assume,' 'forecast,' 'position,' 'strategy,' 'potential,' 'continue,' 'could,' 'will,' 'plan,' 'project,' 'budget,' 'predict,' 'pursue,' 'target,' 'seek,' 'objective,' 'believe,' 'expect,' 'anticipate,' 'intend,' 'estimate' and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements. Examples of forward-looking statements include, but are not limited to statements regarding the expected synergies and efficiencies to be achieved as a result of the acquisition of PropFlow. Although forward-looking statements reflect our good faith beliefs at the time they are made, we caution you that these forward-looking statements are subject to a number of risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks include but are not limited to: uncertainties as to whether the Moser Acquisition will achieve its anticipated benefits and projected synergies within the expected time period or at all; Atlas's ability to integrate Moser's operations in a successful manner and in the expected time period; unforeseen or unknown liabilities, future capital expenditures and potential litigation relating to the Moser Acquisition; unexpected future capital expenditures; our ability to successfully execute our stock repurchase program or implement future stock repurchase programs; commodity price volatility, including volatility stemming from the ongoing armed conflicts between Russia and Ukraine, Israel and Hamas and Israel and Iran; increasing hostilities and instability in the Middle East; adverse developments affecting the financial services industry; changes in tariffs, trade barriers, price and exchange controls and other regulatory requirements, including such changes that may be implemented by U.S. and foreign governments; our ability to complete growth projects, on time and on budget; the risk that stockholder litigation in connection with our recent corporate reorganization may result in significant costs of defense, indemnification and liability; changes in general economic, business and political conditions, including changes in the financial markets; transaction costs; actions of OPEC+ to set and maintain oil production levels; the level of production of crude oil, natural gas and other hydrocarbons and the resultant market prices of crude oil; inflation; environmental risks; operating risks; regulatory changes; lack of demand; market share growth; the uncertainty inherent in projecting future rates of reserves; production; cash flow; access to capital; the timing of development expenditures; the ability of our customers to meet their obligations to us; our ability to maintain effective internal controls; and other factors discussed or referenced in our filings made from time to time with the U.S. Securities and Exchange Commission ('SEC'), including those discussed under the heading 'Risk Factors' in our Annual Report on Form 10-K, filed with the SEC on February 25, 2025 and Quarterly Report on Form 10-Q, filed with the SEC on May 6 2025, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Yahoo
18-07-2025
- Business
- Yahoo
Regions Financial lifts annual interest income forecast above estimates
(Reuters) -U.S. regional lender Regions Financial on Friday raised its annual interest income forecast above Wall Street expectations, betting on prudent management of deposit costs and stable loan demand. Some banks in the country are starting to benefit from steadier funding conditions and improved lending trends, after months of pressure from elevated deposit costs and subdued loan demand. "We are experiencing solid deposit growth, disciplined loan production and strong performance across fee-based businesses, including Treasury Management and Wealth Management," Regions Financial CEO John Turner said. The bank expects its full-year interest income to grow between 3% and 5%, up from its prior view of 1% to 4%. Analysts on average estimate a 2.35% increase, according to estimates compiled by LSEG. Net interest income is a key profit driver for mid-sized banks such as Regions, making its growth vital as the sector contends with elevated rates and tighter liquidity. Regions' upbeat forecast points to strengthening core lending operations. The bank also expects loans to be stable or gain modestly in 2025. Interest income in the second quarter grew 6.2% to $1.26 billion, while net interest margin expanded to 3.65% from 3.51% a year earlier. Regions ended the quarter with $126 million in provision for credit losses, compared with $102 million a year earlier. Provisioning is often seen as a gauge of the economic outlook, with uncertainty prompting banks to set aside more funds in case consumers and businesses struggle to repay commercial loans, credit card debt or mortgages. Regions posted earnings of 59 cents per share in the three months ended June 30, compared with 52 cents apiece a year ago. Sign in to access your portfolio
Yahoo
18-07-2025
- Business
- Yahoo
Regions Financial lifts annual interest income forecast above estimates
(Reuters) -U.S. regional lender Regions Financial on Friday raised its annual interest income forecast above Wall Street expectations, betting on prudent management of deposit costs and stable loan demand. Some banks in the country are starting to benefit from steadier funding conditions and improved lending trends, after months of pressure from elevated deposit costs and subdued loan demand. "We are experiencing solid deposit growth, disciplined loan production and strong performance across fee-based businesses, including Treasury Management and Wealth Management," Regions Financial CEO John Turner said. The bank expects its full-year interest income to grow between 3% and 5%, up from its prior view of 1% to 4%. Analysts on average estimate a 2.35% increase, according to estimates compiled by LSEG. Net interest income is a key profit driver for mid-sized banks such as Regions, making its growth vital as the sector contends with elevated rates and tighter liquidity. Regions' upbeat forecast points to strengthening core lending operations. The bank also expects loans to be stable or gain modestly in 2025. Interest income in the second quarter grew 6.2% to $1.26 billion, while net interest margin expanded to 3.65% from 3.51% a year earlier. Regions ended the quarter with $126 million in provision for credit losses, compared with $102 million a year earlier. Provisioning is often seen as a gauge of the economic outlook, with uncertainty prompting banks to set aside more funds in case consumers and businesses struggle to repay commercial loans, credit card debt or mortgages. Regions posted earnings of 59 cents per share in the three months ended June 30, compared with 52 cents apiece a year ago.
