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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 has secured a $26 million contract with the Georgia Department of Transportation for Construction Engineering and Inspection services over three years. This contract involves critical services such as contract administration, inspection, and materials testing for various construction projects in the Southeastern District, covering 26 counties. Atlas aims to enhance transportation infrastructure, including road widening, asphalt rehabilitation, and bridge work, emphasizing a strong relationship with Georgia DOT, which focuses on innovation and sustainability in mobility solutions.
Atlas Technical Consultants reported strong second quarter results, with gross revenue rising 19.0% to $156.5 million. Adjusted EBITDA increased 16.7% to $21.2 million, indicative of robust operational performance. The gross margin, excluding subcontractor costs, reached a historic 60.4%. Backlog also set a record at $855 million, up 13.8% year-over-year. Despite a net loss of $1.4 million, the company reaffirms its 2022 outlook for continued double-digit revenue and EBITDA growth, supported by strong demand in infrastructure and environmental sectors.
Atlas Technical Consultants, Inc. (Nasdaq: ATCX) is set to release its second quarter 2022 financial results on August 9, 2022, after market close. A conference call to discuss these results will occur on August 10, 2022, at 9:00 a.m. Eastern time. Headquartered in Austin, Texas, Atlas provides Infrastructure and Environmental solutions across diverse sectors. With over 3,500 employees, the company integrates services in Environmental, Engineering, and Quality Management. The press release contains forward-looking statements, highlighting various risks and uncertainties impacting future performance.
Atlas Technical Consultants has secured a six-year, $6.5 million contract for program management services related to Cobb County PARKS' 2022 SPLOST program. This initiative is expected to generate $52.2 million for park improvements and new developments, continuing Atlas' long-term partnership with the county. Atlas will provide essential management services to enhance community access to green spaces. The company has been managing Cobb PARKS SPLOST since 2012, reflecting its commitment to supporting local environmental and social needs.
AUSTIN, Texas, July 8, 2022 – Atlas Technical Consultants (Nasdaq: ATCX), a leading Infrastructure and Environmental services provider, announced that CEO L. Joe Boyer and Chief Strategy Officer Jonathan Parnell will participate in the CJS Securities 22nd Annual New Ideas Summer Conference on July 12, 2022. Atlas, headquartered in Austin, is focused on improving the performance and longevity of infrastructure assets through innovative solutions in Environmental, Testing, Inspection, Certification, Engineering, and Program Management. For more information, visit oneatlas.com.
Atlas Technical Consultants (ATCX) has secured a three-year, $18 million contract with the California Department of Transportation for Quality Assurance and Inspection Services in Southern California. This contract underscores Atlas's commitment to enhancing quality assurance services, positioning it strategically before major global events such as the 2026 FIFA World Cup and 2028 Olympics. The company aims to support various capital projects, enhancing infrastructure quality across multiple counties, including Los Angeles and San Diego.
Atlas Technical Consultants, Inc. (Nasdaq: ATCX) announced its inaugural sustainability report outlining its 2030 Environmental, Social, and Governance (ESG) goals. The report emphasizes Atlas' commitment to the UN Sustainable Development Goals and includes a full ESG strategy, governance enhancements, and a carbon footprint inventory. Key targets involve completing 50,000 infrastructure projects, reducing GHG emissions by 50%, and achieving gender pay equity. The company aims to foster diversity and community engagement through various initiatives.
Atlas Technical Consultants has entered into an interest rate cap transaction with JPMorgan Chase to mitigate interest expense risks linked to potential rate fluctuations. This transaction, effective from June 1, 2022, caps the variable portion of the company’s interest at 3.0% for a notional amount of $500 million. Monthly payments will be made by JPMorgan if the benchmark interest rate exceeds this cap. CEO L. Joe Boyer emphasized that this step is part of ongoing efforts to reduce leverage and simplify the company’s capital structure.
Atlas Technical Consultants (ATCX) reported a strong start to 2022 with a 9.7% increase in gross revenue, reaching $135.2 million, driven by 6% organic growth and acquisitions. Adjusted EBITDA rose 13.4% to $16.5 million, representing a 12.2% margin. The backlog reached a record $851 million, up 24% year-over-year. Despite a net loss of $4.4 million, the company reaffirmed its full-year outlook, anticipating revenue of $580-$620 million and adjusted EBITDA of $84-$90 million.
Atlas Technical Consultants, Inc. (Nasdaq: ATCX) has been awarded a contract worth $85.90 million by the Los Angeles County Metropolitan Transportation Authority for Environmental Capital Construction Support services. The initial three-year term of the contract is valued at $82.65 million, with additional options bringing the total potential value to $85.90 million. Atlas anticipates booking at least $12 million from this contract, which encompasses handling environmental waste, hazardous materials, and related construction services.
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