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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) has secured a three-year, $21 million contract extension to provide Construction Materials Testing for the Spent Fuel Handling Recapitalization Project at the Naval Nuclear Laboratory. Under this agreement with Fluor Marine Propulsion, Atlas will serve as the Independent Testing Agency, ensuring compliance with Nuclear Quality Assurance (NQA-1) standards for concrete materials. This extension builds on Atlas' 20+ years of experience at the Idaho National Laboratory and supports vital work for U.S. Government agencies, enhancing the quality assurance solutions for critical infrastructure.
Atlas Technical Consultants (Nasdaq: ATCX) has been awarded a $15 million contract by the Georgia Department of Transportation (GDOT) to provide Engineering & Design and Environmental services for rail crossings. The contract spans three years with a potential two-year extension. Atlas will conduct field inventories, develop design plans, and prepare NEPA studies to enhance safety at railroad crossings. This partnership builds on over 16 years of collaboration between Atlas and GDOT, focusing on improving Georgia's transportation infrastructure.
Atlas Technical Consultants (Nasdaq: ATCX) will participate in the CJS Securities 23rd Annual New Ideas for the New Year Conference on January 11, 2023. CEO L. Joe Boyer and Chief Strategy Officer Jonathan Parnell will present at 3:05 PM Eastern time. The event will be accessible virtually, enhancing engagement with investors and stakeholders. Atlas, based in Austin, Texas, is a leading provider of Infrastructure and Environmental solutions, with over 3,500 employees. For more information or to access the live presentation, visit their Investor Relations website.
Atlas Technical Consultants (ATCX) has been selected as a member of an AECOM-led joint venture to provide program delivery support for the California High-Speed Rail Project. The $400 million contract spans four years, with Atlas set to book approximately $65 million in backlog in Q4 2022. This project aims to create a unified quality management system for the rail program, expected to transform transportation in California while promoting environmental sustainability. The High-Speed Rail initiative is anticipated to generate significant reductions in greenhouse gas emissions.
Atlas Technical Consultants (Nasdaq: ATCX) has secured a $5 million contract with the Washington State Department of Transportation for Environmental and Quality Assurance Services. This project aims to remove fish barriers and enhance fish migration patterns following a Federal culvert injunction from 2013. Atlas will provide essential technical services, demonstrating its commitment to meeting environmental goals in the Pacific Northwest. CEO L. Joe Boyer emphasized Atlas' extensive experience in the region, enhancing their credibility in fulfilling this critical project.
Atlas Technical Consultants (Nasdaq: ATCX) reported strong third quarter 2022 results, with gross revenue increasing by 17% to $162.1 million, driven by 10% organic growth. Adjusted EBITDA rose 30% to $25.8 million, achieving a record margin of 20%. Backlog reached a record $864 million, up 14% year-over-year. The company is reaffirming its revenue guidance for 2022, estimating between $590 million and $610 million. Net income improved to $2 million from a loss of $2.5 million in the prior year quarter, reflecting operational improvements and market demand.
Atlas Technical Consultants (Nasdaq: ATCX) has secured multiple contracts with the California Department of Transportation (Caltrans), valued at over $11 million, for Construction Materials Testing and Inspection over three years. These contracts support critical transportation projects that may receive funding from the Infrastructure Investment and Jobs Act. Atlas is tasked with ensuring the safe construction of roadways and fiber optic installations without compromising infrastructure integrity.
Atlas Technical Consultants (Nasdaq: ATCX) has secured an $18 million contract for underground storage tank (UST) inspection and service with a public agency. The contract spans an initial three-year term with two one-year extensions. Atlas will assess environmental releases and develop remediation plans, contributing to community safety through high-quality environmental services. This contract adds to Atlas's backlog for Q2 2022, highlighting its strong position in the UST inspection and remediation market.
Atlas Technical Consultants (Nasdaq: ATCX) will release its third quarter 2022 financial results on November 8, 2022, post-market close. A webcast and conference call are scheduled for November 9, 2022, at 9:00 a.m. Eastern time to discuss these results and recent developments. Atlas specializes in Infrastructure and Environmental solutions, employing over 3,500 people nationally. The company integrates services across Environmental, Testing, Inspection, Engineering, and Quality Management sectors, addressing infrastructure needs impacted by climate and economic challenges.
Atlas Technical Consultants has been awarded a 5-year contract worth up to $25 million by the Georgia Department of Transportation (GDOT) to provide program management services for transportation projects. This contract, containing a base term of three years with two optional one-year extensions, aims to enhance local agency project execution. Atlas's role includes managing projects from funding award to construction, ultimately improving infrastructure while safeguarding environmental resources. The company emphasizes its long-standing collaboration with GDOT to fulfill community infrastructure needs.
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