Atlas Technical Consultants, Inc. (ATCX) Misses Q1 EPS by 8c

Atlas Technical Consultants, Inc. (NASDAQ: ATCX) reported Q1 EPS of ($0.26), which may not compare to the analyst estimate of ($0.18). Revenue for the quarter came in at $109.3 million versus the consensus estimate of $102 million.

L. Joe Boyer, Atlas’ Chief Executive Officer, said “As a provider of critical services to the nation’s infrastructure and other essential sectors, we are focused on ensuring the well-being of our team members, while continuing to serve our customers during these challenging times. We have maintained operational excellence while safely working on essential projects in the field, supported by our administrative staff who are largely working remote. I am profoundly grateful to all Atlas employees for their professionalism and dedication to excellence during this unprecedented time.”

Mr. Boyer continued, “We delivered exceptional operating results in the first quarter driven by strong project activity to start the year, although the pandemic did impact our private sector work late in the quarter. Our efforts to self-perform more services and enhance the efficiency of our workforce drove a meaningful 160 basis point improvement in Adjusted EBITDA as percent of net revenue. The addition of Long Engineering further accelerated our growth and contributed to our success during the quarter. The endurance of our team, along with our strong customer connections, operating discipline and ample liquidity, position us to power through this crisis and gain momentum once our markets begin to recover.”

For earnings history and earnings-related data on Atlas Technical Consultants, Inc. (ATCX) click here.

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