Mammoth Energy Q1 revenue $43.2M, net loss $0.25/sh; cuts 2024 capex to $9M

MAMMOTH ENERGY SERVICES, INC.

2024-Q1 EPS reported -$0.25 revenue$43,189,000

Revenue $43.2M, down 63% YoY vs $116.3M; net loss $11.8M ($0.25 loss/sh) vs net income $8.4M in Q1 2023.
Adjusted EBITDA $4.5M vs $30.7M YoY; well completion fleets active averaged 0.6 vs 3.6.
2024 capex guidance lowered to $9M from prior $15M; cites soft natural gas activity.
PREPA paid $64M YTD; $349M principal+interest still owed; net $9.6M received after SPCP repayment.
Cash $22.0M at March 31; revolver undrawn with $21M available borrowing capacity.

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 0.99

MAMMOTH ENERGY SERVICES, INC. reported first quarter ended March 31, 2024 results: revenue $43.2 million, net income Net loss of $11.8 million, EPS $0.25 loss per diluted share. Guidance lowered.

Period: first quarter ended March 31, 2024
Revenue: $43.2 million
Net income: Net loss of $11.8 million
EPS: $0.25 loss per diluted share
Guidance: lowered
Result: reported results

Exact text from the filing

Total revenue was $43.2 million for the first quarter of 2024 compared to $116.3 million for the same quarter of 2023 and $52.8 million for the fourth quarter of 2023. Net loss for the first quarter of 2024 was $11.8 million, or $0.25 loss per diluted share, compared to net income of $8.4 million, or $0.17 per diluted share, for the same quarter of 2023 and net loss of $6.0 million, or $0.12 loss per diluted share, for the fourth quarter of 2023.

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Source: SEC EDGAR

accession 0001679268-24-000023

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