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Atlas Technical Consultants Inc. (ATCX), headquartered in Austin, Texas, is a leading provider of professional testing, inspection, engineering, environmental, program management, and consulting services. With a nationwide footprint and more than 3,300 employees, Atlas is dedicated to offering comprehensive solutions to clients across various sectors including transportation, commercial, water, government, education, and industrial markets. The company's core services include testing, inspecting, certifying, planning, designing, and managing diverse projects, ensuring top-notch service quality and client satisfaction.
Recently, Atlas has made significant strides in innovation by deploying Data Recon, an application-based software designed to collate structural data on a small tablet. This innovative tool reduces field time by more than 50 percent and streamlines data collection processes. Additionally, Atlas collaborated with STRUCINSPECT to implement automated, data-collection methodologies along with artificial intelligence-assisted software. This collaboration has enabled the identification, quantification, and sizing of defects, and the generation of 3D models and orthomosaic maps, giving LA Metro critical insights for optimized maintenance decisions.
As a prime consultant, Atlas secured a five-year contract with an annual $1.2-million budget to provide structural inspection services. The work includes inspecting and rating light-rail and roadway bridges, tunnels, pedestrian crossings, and retaining walls. Each structure undergoes a visual inspection, a federal 'State of Good Repair' condition rating, and recommendations for corrective repairs tailored to specific defects. Detailed inspection reports and comprehensive databases for defects, assets, and photos are also part of the service.
Atlas is committed to complying with regulatory standards, performing inspections in accordance with the Federal Transit Administration, California Public Utilities Commission, Federal Highway Administration, National Bridge Inspection Standards, American Public Transportation Association (APTA), and Metro Engineering Standards.
Atlas' achievements extend to its five-year, $12-million master agreement with the Georgia Department of Transportation (GDOT) to conduct engineering design review services. With a longstanding partnership with GDOT, Atlas has been delivering engineering design review services for over 35 years. The company will schedule and conduct field plan reviews, ensuring adherence to AASHTO and GDOT guidance documents, and oversee review responses to findings, thereby playing a crucial role in maximizing the return on investment for public transportation tax dollars.
For more information about Atlas Technical Consultants and their innovative solutions, visit their website.
Atlas Technical Consultants (Nasdaq: ATCX) will be presenting at the D.A. Davidson 19th Annual Diversified Industrials & Services Virtual Conference on September 22, 2020, at 4:45 PM ET. The presentation will feature CEO Joe Boyer and CFO David Quinn. A live audio webcast will be accessible via the Company’s website, and a replay will be available post-event. Atlas provides professional testing, inspection, and consulting services across various sectors, operating over 100 offices nationwide with more than 3,200 employees.
Atlas Technical Consultants (Nasdaq: ATCX) announced that CEO Joe Boyer and CFO David Quinn will participate in the virtual Lake Street Capital Markets Best Ideas Growth (BIG4) Conference on September 17, 2020. Atlas is a premier provider of testing, inspection, engineering, and consulting services, serving various sectors including transportation and government. Headquartered in Austin, Texas, the company operates over 100 offices nationwide, employing more than 3,200 professionals to deliver critical technical services.
Atlas Technical Consultants (Nasdaq: ATCX) has been recognized as the #61 Top Environmental Firm globally by Engineering News-Record. Additionally, it ranks in the Top 10 for Environmental Management Market Segment based on revenue. Since the pandemic began, Atlas has provided COVID-19 consulting services, including safety planning and disinfection oversight. This recognition highlights Atlas's significant role in aiding clients during the pandemic. The company merged with ATC Group Services in January 2019 and became publicly traded in February 2020.
AUSTIN, Texas, Aug. 14, 2020 - Atlas Technical Consultants (NASDAQ: ATCX) announced the withdrawal of its public offering of Class A common stock due to unfavorable stock market conditions. The company, which specializes in professional testing, inspection, engineering, and consulting services, emphasizes its diverse offerings to both public and private sector clients across various markets. This decision highlights the potential volatility in the current market environment that companies face when attempting to raise capital.
Atlas Technical Consultants has announced a public offering of 6,250,000 shares of Class A common stock. The offering consists of 5,000,000 shares from the company and 1,250,000 from a selling stockholder, with an option for underwriters to purchase an additional 937,500 shares. The last reported share price was $9.20. The proceeds will primarily be used to repay debts and for general corporate purposes. The registration statement has been filed with the SEC but is not yet effective.
Atlas Technical Consultants, Inc. (Nasdaq: ATCX) has announced the acquisition of WesTest LLC, a transportation-related materials testing and inspection services provider based in Colorado. With around 40 employees, WesTest enhances Atlas's capabilities in engineering and testing services. Atlas's CEO, L. Joe Boyer, expressed optimism about expanding their services in Colorado, aiming for growth in transportation and infrastructure sectors. The deal is set to close in Q3 2020, although financial terms were not disclosed.
AUSTIN, Texas, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Atlas Technical Consultants (Nasdaq: ATCX) announced its agreement to acquire Alta Vista Solutions, a provider of transportation-related testing and inspection services. This strategic move will enhance Atlas's capabilities in California and New York, where demand for transportation investment is growing. Alta Vista operates with approximately 100 employees from multiple offices. The acquisition aims to expand Atlas's service offerings and increase self-performing capabilities. The deal is expected to close in Q3 2020.
Atlas Technical Consultants (ATCX) will announce its second quarter 2020 financial results on August 10, 2020, after market close. A conference call will take place at 5:00 p.m. Eastern Time to discuss the results and recent developments, with a Q&A session included. Interested parties can access the webcast on the company's website or join via phone. Atlas, based in Austin, Texas, provides professional testing, inspection, and engineering services across various sectors with over 100 offices nationwide and a workforce exceeding 3,200 employees. For further details, visit their website.
Atlas Technical Consultants (Nasdaq: ATCX) has been selected by the Georgia Department of Transportation to provide Right-of-Way Acquisition services for two critical infrastructure projects: the I-285 at I-20 East Side Interchange Reconstruction and the I-285 Express Lanes. These projects will enhance traffic flow, safety, and capacity in Dekalb County, Georgia. The announcement reflects Atlas's focus on expanding its self-perform capabilities amidst increasing demand for right-of-way services. The improvements are part of the Georgia DOT's Major Mobility Investment Program aimed at optimizing the state's transportation network.
Atlas Technical Consultants (Nasdaq: ATCX) reported preliminary second quarter 2020 results, with gross revenue projected between $111 million and $113 million and net income estimated at $2.0 million to $2.5 million. Adjusted EBITDA is expected to be $15.0 million to $15.5 million, while liquidity reached approximately $39 million. For the full year 2020, gross revenue is anticipated between $453 million and $468 million, a decrease from prior expectations due to COVID-19 impacts. Backlog surpassed $620 million, showing business resilience despite pandemic challenges.
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