Atlas Energy reports Q2 EPS 13c, consensus 33c

Reports Q2 revenue $287.5M, consensus $272.55M. John Turner, President & CEO, commented, “While second quarter results were weighed down by lower throughput and higher costs related to the reconstruction of the Kermit Feed System, the rest of our operations performed exceedingly well. The reconstruction of the damaged feed system was completed at the end of June, and, after a ramp-up period in July, Atlas is back to normal loadout operations today at Kermit. With the recovery in our productive capacity, we expect our third quarter financial results to meaningfully improve sequentially relative to those of the second quarter. I am extremely proud of our team’s remarkable response times and tireless work ethic throughout this incident, and I would like to congratulate and say thank you to our entire organization for responding so admirably to the event. We’re looking forward to the remainder of 2024 as we near the initial in-service date of the Dune Express.”