Mammoth Q1 rev $116.3M (+87% YoY), net income $8.4M; cuts capex outlook on nat-gas headwinds

MAMMOTH ENERGY SERVICES, INC.

2023-Q1 EPS reported $0.17 revenue$116,320,000

Net income of $8.4M ($0.17 diluted) vs net loss of $14.8M ($0.32 loss) in Q1 2022.
Adjusted EBITDA $30.7M, up 230% from $9.3M YoY; revenue rose 87% to $116.3M.
Well Completion Services rev $67.3M on 2,018 stages vs $23.9M on 699 stages YoY.
CEO cites ~50% drop in nat-gas prices since year-end; expects lower near-term completion utilization.
Capex plan reduced to ~$24M; liquidity as of April 26 was $35.5M ($9.5M cash + $26M revolver availability).

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MAMMOTH ENERGY SERVICES, INC. reported first quarter ended March 31, 2023 results: revenue $116.3 million, net income $8.4 million, or $0.17 per diluted share, EPS $0.17 per diluted share.

Period: first quarter ended March 31, 2023
Revenue: $116.3 million
Net income: $8.4 million, or $0.17 per diluted share
EPS: $0.17 per diluted share
Result: reported results

Exact text from the filing

(NASDAQ: TUSK) today reported financial and operational results for the first quarter ended March 31, 2023. Financial Overview for the First Quarter 2023: Total revenue was $116.3 million for the first quarter of 2023, an increase of 87% compared to $62.3 million for the same quarter of 2022 and an increase of 13% compared to $102.9 million for the fourth quarter

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Source: SEC EDGAR

accession 0001679268-23-000026

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