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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Mark Layton Executive | Chief Financial Officer | None | CPA with extensive financial experience; CFO of TUSK since its formation in 2016; previously held finance roles at Archer Well Company Inc. and Great White Energy Services, Inc.. | |
Phil Lancaster Executive | Chief Executive Officer | None | Over 20 years of experience in the energy industry; previously VP of Corporate Development at TUSK; served as Interim President of infrastructure subsidiaries and President of Mammoth Energy Partners LP. | View Report → |
Arthur Amron Board | Chairman of the Board | Special Limited Partner at Wexford Capital LP; Board Member at Nephros, Inc. | Legal and transactional expert with over 20 years at Wexford Capital; serves on the board of Nephros, Inc.; previously General Counsel at Wexford Capital and corporate attorney at Schulte Roth & Zabel LLP. | |
Arthur Smith Board | Director | President of Triple Double Advisors, LLC; Board Member at Evergreen Natural Resources LLC | Energy equity analysis and financial expert; President of Triple Double Advisors; serves on the board of Evergreen Natural Resources LLC, where he chairs the Audit Committee. | |
Corey Booker Board | Director | CEO of Bedside LLC; Board Member at HarborPath Inc. | Founder and CEO of Bedside LLC, a healthcare management services company; serves on the board of HarborPath Inc., where he leads the finance committee and a special task force. | |
James Palm Board | Director | None | Extensive oil and gas industry experience; former CEO of Gulfport Energy Corporation; previously managed Crescent Exploration, LLC; served as President of the Oklahoma Independent Petroleum Association. | |
Paul Jacobi Board | Director | Managing Director at Wexford Capital LP; Director at Mako Mining Corp and Grizzly Oil Sands ULC | Private equity energy investment expert; Managing Director at Wexford Capital; serves on the boards of Mako Mining Corp and Grizzly Oil Sands ULC. |
Research analysts who have asked questions during MAMMOTH ENERGY SERVICES earnings calls.
Recent press releases and 8-K filings for TUSK.
- Mammoth Energy Services reported Q3 2025 revenue of $14.8 million, down from $16.4 million in the second quarter, and a net loss from continuing operations of $12.1 million, or $0.25 per diluted share.
- The company continued its transformation plan, including the divestiture of Piranha division assets and year-to-date investments of approximately $40 million in its aviation portfolio within the rentals segment.
- The drilling segment was a standout, with revenue increasing 207% sequentially to $2.3 million and achieving a record gross margin of 19%. The sand segment's revenue declined significantly but is expected to return to positive gross margin in 2026.
- Mammoth Energy Services maintains a debt-free balance sheet with $110.9 million in unrestricted cash and total liquidity of approximately $153.4 million at quarter end. Subsequent to quarter end, $19.8 million in restricted cash was released, boosting pro forma liquidity to over $170 million.
- The company anticipates improved cash generation and margin recovery in 2026 as transformation initiatives, including a significant reduction in SG&A run rate from $35 million in 2024 to around $21 million exiting Q3 2025, take hold.
- Mammoth Energy Services reported Q3 2025 revenue of $14.8 million and a net loss from continuing operations of $12.1 million, or $0.25 per diluted share, while generating positive free cash flow from operations.
- The drilling segment was a standout, with revenue increasing 207% sequentially to $2.3 million and achieving a record gross margin of 19%. Conversely, sand segment revenue declined 49% sequentially to $2.7 million due to the Piranha division divestiture and weather-related disruptions, with management viewing Q3 as a reset point for expected positive gross margin in 2026.
- The company continued its transformation, divesting the Piranha division assets and investing approximately $40 million year-to-date to grow and diversify its aviation portfolio within the rentals segment.
- Mammoth Energy Services maintained a strong balance sheet, being debt-free with $110.9 million in unrestricted cash, cash equivalents, and marketable securities at quarter end. Subsequent to the quarter, $19.8 million of restricted cash was released, increasing pro forma total liquidity to over $170 million.
- Mammoth Energy Services, Inc. reported total revenue from continuing operations of $14.8 million for the third quarter of 2025, alongside a net loss from continuing operations of $12.1 million (or $0.25 per diluted share) and an Adjusted EBITDA of ($4.4) million.
- As of September 30, 2025, the company maintained a strong liquidity position with $98.2 million in unrestricted cash and cash equivalents, $12.7 million in marketable securities, and no debt, resulting in total liquidity of $153.4 million.
- During the third quarter of 2025, Mammoth completed the divestiture of its Piranha assets within the Sand segment and continued to deploy capital in its aviation platform.
- Capital expenditures from continuing operations totaled $17.299 million for the third quarter of 2025.
- On June 16, 2025, Mammoth’s subsidiaries sold all hydraulic fracturing equipment (Well Completion segment) to MGB Manufacturing, LLC for $15.0 million, and on April 11, 2025, Lion Power Services LLC sold its T&D Business (5 Star Electric, Higher Power, Python) to Peak Utility Services Group, Inc.
- The sales are reported as discontinued operations in the upcoming Form 10-Q for Q2 2025; pro forma financial statements assume both transactions occurred January 1, 2022, showing $98.4 million cash proceeds from the T&D sale and $15.0 million from the hydraulic fracturing sale
- Mammoth expects to record a $7.7 million to $9.2 million goodwill impairment for the hydraulic fracturing business in Q2 2025
- CEO transition: Phil Lancaster resigns as CEO effective June 30, 2025, becomes a non-voting board observer, while Bernard Lancaster is named Chief Operating Officer effective July 1, 2025.
- New executive role: Paul Jacobi is appointed as Chief Business Officer effective July 1, 2025, transitioning from his role as an independent director.
- Board update: Director Arthur Smith will retire and not stand for re-election, and Mark L. Plaumann is appointed to the Board and committees effective June 11, 2025.
- Compensation framework: Newly appointed non-employee directors will receive annual retainers and meeting fees, with additional payments for audit committee roles.
- Robust Q1 Performance: Revenue reached $62.5 million with revenue up 17% sequentially, Adjusted EBITDA up 157% to $2.7 million, and net loss improved 97% to $0.5 million .
- Strategic Transactions: Sold three infrastructure subsidiaries for $108.7 million and purchased 8 aircraft for approximately $11.5 million, enhancing operational flexibility .
- Strong Liquidity Position: Total cash and liquidity exceeded $200 million, achieving $202.9 million as of May 2, 2025 .
- Operational & Segment Highlights: Revenue contributions from Infrastructure ($30.7M, 33.5%), Well Completions ($20.9M, 49.2%), Natural Sand Proppant ($6.7M, 10.8%), and Other Services ($5.9M, 9.4%); natural sand proppant tons sold rose to 189K from Q4 2024 .
- Management Update: The CEO announced his transition out of his role following the subsidiary sale, with a search for a successor underway .
- Financial Strength: The company remains debt-free, laying a solid foundation for future growth .
- Sold infrastructure subsidiaries: Its subsidiary, Lion Power Services LLC, sold its fully-owned subsidiaries—5 Star Electric, Higher Power Electrical, and Python Equipment—for an aggregate sales price of approximately $108.7 million, with $98.3 million received in cash and $10.4 million deposited into escrow for post-closing adjustments.
- Enhanced liquidity position: The transaction contributes to a strong balance sheet with approximately $160 million in cash, positioning the company for further capital deployment opportunities.
- Strategic asset acquisition: The company also purchased eight small passenger aircraft under lease for about $11.5 million, expanding its operational capabilities.
- Mammoth Energy Services Inc sold its infrastructure subsidiaries (5 Star, Higher Power Electrical, and Python Equipment LLC) for an aggregate price of $108.7 million, receiving $98.3 million in cash and depositing $10.4 million into escrow for adjustments.
- The company now holds approximately $160 million in cash and is actively exploring deployment opportunities for its capital.
- An amendment to the revolver with Fifth Third Bank now permits up to $50 million or 10 million share repurchases (subject to cash thresholds) along with expanded investment opportunities, enhancing its liquidity.