Mammoth Energy Services Inc ( (TUSK) ) has released its Q4 earnings. Here is a breakdown of the information Mammoth Energy Services Inc presented to its investors.
Mammoth Energy Services, Inc. is an integrated energy services company that provides products and services for the exploration and development of North American onshore unconventional oil and natural gas reserves, as well as construction and repair services for the electric grid. The company operates across several divisions, including well completion, infrastructure, natural sand proppant services, and other energy services.
Mammoth Energy Services recently released its financial results for the fourth quarter and full year of 2024, highlighting a challenging year with a significant net loss. Despite the difficulties, the company reported improved utilization rates and revenue growth in the fourth quarter compared to the previous quarter, signaling potential positive momentum heading into 2025.
Key financial metrics for 2024 include total revenue of $187.9 million, a decrease from $309.5 million in 2023. The company reported a net loss of $207.3 million for the year, a stark contrast to the previous year’s net loss of $3.2 million. Adjusted EBITDA for 2024 was negative at $167.5 million, compared to a positive $71.0 million in 2023. The infrastructure services division remained relatively stable, contributing $110.4 million in revenue, while the well completion services and natural sand proppant services divisions experienced significant declines.
Looking ahead, Mammoth Energy Services aims to capitalize on potential growth opportunities in 2025, focusing on operational execution and efficiency. The company maintains a debt-free balance sheet with substantial cash reserves, positioning it to make strategic investments for future growth. Management remains optimistic about unlocking shareholder value and anticipates sharing further developments in the coming quarters.