Mammoth Energy Q2 revenue $75.4M, net loss $4.5M; refinancing and $55M buyback authorized

MAMMOTH ENERGY SERVICES, INC.

2023-Q2 EPS reported $0.08 revenue$191,751,000

Total revenue $75.4M (-16% YoY); net loss $4.5M (-$0.09/diluted) vs net income $1.7M in Q2 2022.
Well completion services revenue fell to $27.6M from $43.8M YoY; active fleets dropped to 1.6 from 3.5.
Adjusted EBITDA $16.4M, down from $23.0M YoY and $30.7M in Q1 2023; capex reduced.
Board approved stock repurchase up to $55M or 10M shares, contingent on closing credit facility refinancing.
Received $10.75M from PREPA (first payment in 4+ years); still pursuing outstanding amounts plus interest.

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 second quarter ended June 30, 2023 results: revenue $75.4 million, net income Net loss for the second quarter of 2023 was $4.5 million, or $0.09 loss per diluted share, EPS $0.09 loss per diluted share.

Period: second quarter ended June 30, 2023
Revenue: $75.4 million
Net income: Net loss for the second quarter of 2023 was $4.5 million, or $0.09 loss per diluted share
EPS: $0.09 loss per diluted share
Result: reported results

Exact text from the filing

(NASDAQ: TUSK) today reported financial and operational results for the second quarter ended June 30, 2023. Financial Overview for the Second Quarter 2023 Total revenue was $75.4 million for the second quarter of 2023, a decrease of 16% compared to $89.7 million for the same quarter last year and a decrease of 35% compared to $116.3 million for the first quarter

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MAMMOTH ENERGY SERVICES, INC. filing history →

Source: SEC EDGAR

accession 0001679268-23-000045

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