Mammoth Energy Q4 net loss $6.0M on rev $52.8M; receives $50.6M from PREPA

MAMMOTH ENERGY SERVICES, INC.

PREPA paid $50.6M in March plus $13.4M in Jan; extinguished SPCP liability, netting ~$9.6M cash.
Q4 2023 revenue $52.8M (-49% YoY); net loss $6.0M ($0.12 loss/diluted share) vs net income $4.8M in Q4 2022.
Full year 2023 revenue $309.5M (-15% YoY); net loss $3.2M vs net loss $0.6M in 2022.
Well completion rev fell to $16.1M (669 stages) from $51.4M (1,837 stages); only 0.9 fleets active.
Liquidity $37.3M at year-end; 2024 capex budget ~$15M; revolver undrawn with $27M borrowing base.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.73

MAMMOTH ENERGY SERVICES, INC. reported the fourth quarter and full year ended December 31, 2023 results: revenue $52.8 million for the fourth quarter of 2023, net income Net loss for the fourth quarter of 2023 was $6.0 million, or $0.12 loss per diluted share.

Period: the fourth quarter and full year ended December 31, 2023
Revenue: $52.8 million for the fourth quarter of 2023
Net income: Net loss for the fourth quarter of 2023 was $6.0 million, or $0.12 loss per diluted share
Result: reported results

Exact text from the filing

Mammoth Energy Services, Inc. Announces PREPA’s Payment of $50.6 Million and Reports Fourth Quarter and Full Year 2023 Operational and Financial Results

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MAMMOTH ENERGY SERVICES, INC. filing history →

Source: SEC EDGAR

accession 0001679268-24-000003

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