Mammoth Energy Services Inc
NASDAQ:TUSK
Mammoth Energy Services Inc
Mammoth Energy Services, Inc. engages in the exploration and development of North American onshore unconventional oil and natural gas reserves. The company is headquartered in Oklahoma City, Oklahoma and currently employs 783 full-time employees. The company went IPO on 2016-10-14. Its suite of services includes infrastructure services, well completion services, natural sand proppant services and drilling services. Its infrastructure services division provides engineering, design, construction, upgrade, maintenance and repair services to the electrical infrastructure industry. Its well completion services division provides hydraulic fracturing, sand hauling and water transfer services. Its natural sand proppant services division mines, processes and sells natural sand proppant used for hydraulic fracturing. Its drilling services division provides drilling rigs and directional tools for both vertical and horizontal drilling of oil and natural gas wells. The firm also provides other services, including aviation, equipment rentals, remote accommodations and equipment manufacturing.
Mammoth Energy Services, Inc. engages in the exploration and development of North American onshore unconventional oil and natural gas reserves. The company is headquartered in Oklahoma City, Oklahoma and currently employs 783 full-time employees. The company went IPO on 2016-10-14. Its suite of services includes infrastructure services, well completion services, natural sand proppant services and drilling services. Its infrastructure services division provides engineering, design, construction, upgrade, maintenance and repair services to the electrical infrastructure industry. Its well completion services division provides hydraulic fracturing, sand hauling and water transfer services. Its natural sand proppant services division mines, processes and sells natural sand proppant used for hydraulic fracturing. Its drilling services division provides drilling rigs and directional tools for both vertical and horizontal drilling of oil and natural gas wells. The firm also provides other services, including aviation, equipment rentals, remote accommodations and equipment manufacturing.
Revenue Decline: Q3 revenue was $14.8 million, down from $16.4 million in Q2 and $17.1 million a year ago, mainly due to asset divestitures and underperformance in the Sand segment.
Drilling Outperformance: The Drilling segment delivered record gross margin (19%) and more than tripled revenue sequentially, driven by increased horizontal drilling in the Permian Basin.
Positive Free Cash Flow: Mammoth reported positive free cash flow from operations, supported by asset sales and improved cash discipline.
Portfolio Shift: Company continued its transformation by divesting underperforming Sand assets (Piranha), investing in high-return aviation assets, and streamlining operations.
Cost Reduction: SG&A expenses dropped roughly 40% year-over-year, with the run rate now around $21 million versus $35 million in 2024.
Strong Balance Sheet: Ended Q3 with $110.9 million in cash and marketable securities, no debt, and over $170 million in pro forma liquidity after a key cash release post-quarter.
Guidance: Management expects improved margin and cash generation in 2026, with Sand and Drilling segments positioned for recovery and growth.
