Atlas Copco AB (publ) (ATLCY) Q2 2026 Earnings Call Transcript
Atlas Energy Solutions offers a compelling Strong Buy after a 25% share price decline driven by index removal and sector headwinds. AESI's transformative CAT engine deal secures 1.6 GW of low-cost deployable power, underpinning robust free cash flow growth through 2030. Operational leverage in sand and logistics, aided by the Dune Express system, positions AESI to capture margin expansion as US shale activity rebounds.
OpenAI is sunsetting Atlas, the AI-powered browser it launched in October with ChatGPT at its core. But it's not giving up on the idea that AI should help people browse the web.
Atlas Lithium Corporation is advancing the Neves Project in Brazil, transitioning from exploration to near-term lithium production. I assign ATLX a speculative Buy, citing a 145% after-tax IRR, $539M NPV, and strong Mitsui partnership, but emphasize high execution and financing risk. ATLX trades at ~20% of Neves' DFS NPV, reflecting a significant market discount for pre-production risk and lithium price volatility.