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Mammoth Energy Services(TUSK) - 2023 Q4 - Earnings Call Presentation
2024-03-01 16:32
Forward-Looking and Cautionary Statements This presentation includes financial measures that are not presented in accordance with generally accepted accounting principles ("GAAP"), including Adjusted EBITDA. While management believes such non-GAAP measures are useful for investors, they should not be used as a replacement for financial measures that are in accordance with GAAP. Please see the Appendix included at the end of this presentation and Mammoth's filings with the SEC for definitions and reconciliat ...
Mammoth Energy Services(TUSK) - 2023 Q4 - Earnings Call Transcript
2024-03-01 16:31
Mammoth Energy Services, Inc. (NASDAQ:TUSK) Q4 2023 Earnings Conference Call March 1, 2024 10:00 AM ET Company Participants Ken Dennard - Investor Relations Arty Straehla - Chief Executive Officer Mark Layton - Chief Financial Officer Conference Call Participants John Daniel - Daniel Energy Partners Michael Mathison - Singular Research Operator Greetings, and welcome to the Mammoth Energy Services Fourth Quarter and Full Year 2023 Earnings Conference Call. At this time, all participants are in a listen-onl ...
Mammoth Energy Services(TUSK) - 2023 Q4 - Annual Results
2024-03-01 14:04
Mark Layton, Chief Financial Officer of Mammoth commented, "We're pleased to have received these payments from PREPA, which has allowed us to extinguish the liability owed to SPCP Group and collect nearly $10 million in cash. We continue to pursue payment of the outstanding amounts owed to Cobra, including the associated interest, as these payments represent only a portion of the amounts still owed to us." Exhibit 99.1 Mammoth Energy Services, Inc. Announces PREPA's Payment of $50.6 Million and Reports Four ...
Mammoth Energy Services(TUSK) - 2023 Q3 - Quarterly Report
2023-11-09 21:58
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the ...
Mammoth Energy Services(TUSK) - 2023 Q3 - Earnings Call Transcript
2023-11-09 19:23
Financial Data and Key Metrics Changes - Total revenue for Q3 2023 was $65 million, down from $107.2 million in Q3 2022, primarily due to lower utilization in the well completion services division [10] - Net loss for Q3 2023 was $1.1 million, compared to net income of $7.7 million in the same quarter last year [12] - Adjusted EBITDA for Q3 2023 was $13.4 million, a decrease from $29.8 million in Q3 2022 [12] - Capital expenditures for Q3 2023 were approximately $4.7 million, with an expected total CapEx budget of $18 million for 2023 [12][13] Business Line Data and Key Metrics Changes - Well completion services division saw a decrease in activity, pumping 577 stages with an average utilization of 1.2 fleets, compared to 1,897 stages and 3.5 fleets in Q3 2022 [10] - Sand division sold approximately 352,000 tons of sand in Q3 2023, up from 341,000 tons in Q3 2022, with an average price of $30.18 per ton compared to $29.95 per ton last year [11] - Infrastructure Services Division generated revenue of $26.7 million in Q3 2023, down from $33.3 million in the same quarter last year [12] Market Data and Key Metrics Changes - The company noted challenges in the U.S. onshore activity and weakness in natural gas basins, impacting utilization in well completion services [5] - There are expectations for improved funding from the Infrastructure Investment and Jobs Act, which is anticipated to increase bidding activity in late 2023 and into 2024 [6] Company Strategy and Development Direction - The company is focused on managing costs and constraining capital expenditures while preparing for increased completion activity in 2024 [5] - The infrastructure business is positioned for long-term growth, particularly in fiber and substation projects [6][7] - The company aims to leverage its diversified business model and operational efficiencies to adapt to changing market conditions [7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about increasing completion activity and improving fleet counts in 2024 [5] - The company is encouraged by the potential for growth in its infrastructure segment and believes it is well-positioned for future opportunities [6][7] - Management acknowledged the challenges faced in the current year but highlighted the resilience and capabilities of their teams as a catalyst for future performance improvement [14] Other Important Information - The company successfully refinanced its credit facility, establishing a new five-year revolving credit facility of up to $75 million and a term loan of $45 million [4] - As of September 30, 2023, the company had cash on hand of $10.5 million and total liquidity of approximately $21.5 million [13] - The company is still owed over $394 million by PREPA for work completed, with ongoing efforts to pursue payment [8] Q&A Session Summary Question: Inquiry about new loan agreements and interest rate calculation - Management confirmed that the revolving credit facility is priced at SOFR plus 225, and the term loan is priced at SOFR plus 750 [16] Question: Expectations on bringing back furloughed crews - Management indicated confidence in ramping up operations in Q1 2024, leveraging both former employees and new hires to fill experienced crews [18]
Mammoth Energy Services(TUSK) - 2023 Q2 - Quarterly Report
2023-08-11 20:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File No. 001-37917 Mammoth Energy Services, Inc. (Exact name of registrant as specified in its charter) Delaware 32-0498321 (State or other jurisdiction of inc ...
Mammoth Energy Services(TUSK) - 2023 Q2 - Earnings Call Transcript
2023-08-11 19:58
Mammoth Energy Services, Inc. (NASDAQ:TUSK) Q2 2023 Earnings Conference Call August 11, 2023 10:00 AM ET Company Participants Rick Black - IR Arty Straehla - CEO Mark Layton - CFO Conference Call Participants John Daniel - Daniel Energy Partners Carter Dunlap - Dunlap Equity Management Operator Greetings, and welcome to the Mammoth Energy Services Second Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal ...
Mammoth Energy Services(TUSK) - 2023 Q1 - Earnings Call Transcript
2023-04-29 18:52
Mammoth Energy Services, Inc. (NASDAQ:TUSK) Q1 2023 Results Conference Call April 27, 2023 5:00 PM ET Company Participants Ken Dennard - IR Arty Straehla - CEO Mark Layton - CFO Conference Call Participants Ignacio Bernaldez - EF Hutton John Daniel - Daniel in Partners Don Crist - Johnson Rice Michail Paraskevopoulos - Marktfeld Carter Dunlap - Dunlap Equity Management Operator Greetings, and welcome to the Mammoth Energy Services First Quarter Earnings Conference Call. [Operator Instructions] As a reminder ...
Mammoth Energy Services(TUSK) - 2023 Q1 - Quarterly Report
2023-04-28 23:54
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File No. 001-37917 Mammoth Energy Services, Inc. (Exact name of registrant as specified in its charter) Delaware 32-0498321 (State or other jurisdiction of in ...
Mammoth Energy Services(TUSK) - 2022 Q4 - Earnings Call Transcript
2023-02-27 03:37
Mammoth Energy Services, Inc. (NASDAQ:TUSK) Q4 2022 Earnings Conference Call February 23, 2023 5:00 PM ET Company Participants Ken Dennard - Investor Relations Arty Straehla - Chief Executive Officer Mark Layton - Chief Financial Officer Conference Call Participants Carter Dunlap - Dunlap Equity Management Operator Greetings and welcome to the Mammoth Energy Services Fourth Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to in ...