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Atlas Energy Solutions cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$161M in Q3 2026 · −$344M over twelve months

Operating cash flow$23.4M
Capital spending−$185M
Free cash flow−$161M
Cash conversion cycle40 days

Analysis

In Q3 2026, Atlas Energy Solutions generated $23.4M of operating cash flow and spent $185M on capital projects, leaving free cash flow of −$161M. That is $160M less than in Q3 2025 (−$1.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was $45.6M; the largest uses were capital spending ($390M), net borrowing (+) / repaid (−) ($33.5M), taxes on employees’ shares ($3.3M); besides operations, cash came from other financing ($347M), other investing ($14.7M); the cash balance fell by $19.0M.

Operating cash flow was $23.4M against net income of −$45.1M. The largest differences: depreciation & amortization +$47.1M, payables +$15.9M, deferred taxes −$10.7M.

Its cash conversion cycle was 40 days (receivables 74 + inventory 5 − payables 39).

Free cash flow

Atlas Energy Solutions: free cash flow by quarterAtlas Energy Solutions: free cash flow by quarter−$5.6MQ4 2024−$59.8MQ1 2025$48.4MQ2 2025−$1.4MQ3 2025−$18.1MQ4 2025−$10.3MQ1 2026−$154MQ2 2026−$161MQ3 2026
Operating cash flow less capital spending.
Atlas Energy Solutions: operating cash flow against capital spendingAtlas Energy Solutions: operating cash flow against capital spendingOperating cash flowCapital spending$70.9M$76.4MQ4 2024−$7.5M$52.4MQ1 2025$88.6M$40.3MQ2 2025$32.4M$33.8MQ3 2025$3.7M$21.8MQ4 2025$19.0M$29.3MQ1 2026−$553K$154MQ2 2026$23.4M$185MQ3 2026
Latest (Q3 2026): Operating cash flow $23.4M, Capital spending $185M.

Capital allocation, year by year

Atlas Energy Solutions: where the cash came from (up) and went (down), by fiscal yearAtlas Energy Solutions: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $21.4MFY2021: Net borrowing −$173MFY2021: Capital spending −$19.4M$21.4MFY2021FY2022: Operating cash flow $206MFY2022: Net borrowing −$29.6MFY2022: Capital spending −$89.6M$206MFY2022FY2023: Operating cash flow $299MFY2023: Net borrowing −$21.2MFY2023: Capital spending −$365M$299MFY2023FY2024: Operating cash flow $256MFY2024: Net borrowing $63.8MFY2024: Capital spending −$374MFY2024: Acquisitions −$153M$320MFY2024FY2025: Operating cash flow $117MFY2025: Net borrowing $40.6MFY2025: Shares issued $253MFY2025: Capital spending −$148MFY2025: Acquisitions −$204MFY2025: Buybacks −$200K$411MFY2025
Over these 5 years operating cash flow totalled $900M; the largest uses were capital spending ($997M) and acquisitions ($358M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$0
Debt$604M
Net debt$604M
Due within a year$41.0M

Atlas Energy Solutions's operations bring cash in ($45.6M over twelve months), and it spends more than that on capital projects: a gap of $344M funded from its $0 of cash and investments and from borrowing ($604M of debt, $41.0M due within a year). That is a choice to invest, not a cash runway running down.

Atlas Energy Solutions: debt maturities by year (FY2025)Atlas Energy Solutions: debt maturities by year (FY2025)$41.0MYear 1$27.6MYear 2$27.0MYear 3$56.8MYear 4$1.5MYear 5$450MAfter year 5
Principal due in each year as disclosed in the annual report, against $0 of cash and investments now.

Where the cash came from and went

Atlas Energy Solutions: sources (+) and uses (−) of cash, Q3 2026Atlas Energy Solutions: sources (+) and uses (−) of cash, Q3 2026Capital spending−$185MCash drawn (+) / kept (−)$146MOperating cash flow$23.4MNet borrowing (+) / repaid (−)$17.1MOther financing−$5.2MOther investing$3.5MTaxes on employees’ shares−$27K
Atlas Energy Solutions: sources (+) and uses (−) of cash, TTM to Q3 2026Atlas Energy Solutions: sources (+) and uses (−) of cash, TTM to Q3 2026Capital spending−$390MOther financing$347MOperating cash flow$45.6MNet borrowing (+) / repaid (−)−$33.5MCash drawn (+) / kept (−)$19.0MOther investing$14.7MTaxes on employees’ shares−$3.3M

From profit to cash

Atlas Energy Solutions: net income to operating cash flow, Q3 2026Atlas Energy Solutions: net income to operating cash flow, Q3 2026Net income−$45.1MDepreciation & amortization$47.1MStock-based pay$8.8MDeferred taxes−$10.7MGains on disposals−$1.4MOther non-cash$666KReceivables$3.4MInventory$1.2MPayables$15.9MAccrued liabilities−$6.0MDeferred revenue−$571KPrepaid and other assets−$1.6MOperating cash flow$23.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20267453940
Q2 20266653833
Q1 20266663636
Q4 20256764034
Q3 20256674329
Q2 20256874827
Q1 20256275118
Q4 2024598598

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$23.4M−$185M——$17.1M—$146M−$161M
Q2 2026−$553K−$154M——−$92.7M—−$128M−$154M
Q1 2026$19.0M−$29.3M——$20.3M—$852K−$10.3M
Q4 2025$3.7M−$21.8M——$91.9M—$717K−$18.1M
Q3 2025$32.4M−$33.8M−$22.7M−$30.9M$22.5M—$37.5M−$1.4M
Q2 2025$88.6M−$40.3M—−$30.9M−$2.0M—−$10.1M$48.4M
Q1 2025−$7.5M−$52.4M−$182M−$30.4M$117M$253M$3.0M−$59.8M
Q4 2024$70.9M−$76.4M−$11.2M—$18.1M—$6.9M−$5.6M

Atlas Energy Solutions: income statement and cash flow

Atlas Energy Solutions, Q3 2026: revenue $268M (+3% year over year), operating margin -14.9%. The chart follows the revenue to costs, profit and cash.

Atlas Energy Solutions: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.