TUSK.O News & Events

Reports Q4 revenue $9.5M vs. 10M last year. Mark Layton, CFO of Mammoth commented, "2025 was a transformative year for Mammoth. We made the deliberate decision to reshape our portfolio, with four divestitures generating in excess of $150 million in cash proceeds. These transactions strengthened our balance sheet, pruned non-performing businesses and gave us the financial flexibility to invest in higher-return opportunities. Most notably, we deployed over $65 million into our aviation platform at an attractive entry point - a business we continue to view as high-growth and scalable - and we remain committed to using our available liquidity to make additional accretive investments across our current portfolio that create long-term shareholder value. We also made meaningful progress on our cost structure, materially reducing our SG&A run rate as we continue building a leaner, more efficient organization aligned to the portfolio we have today. That said, I want to be direct: Q4 operational execution was not at the level we expect of ourselves, and improving execution across our segments is our top priority - it is the clearest path to unlocking the value embedded in this business. As we enter 2026, we see significant potential across our segments, driven by internal self-help initiatives, favorable market tailwinds, and our continued focus on deploying capital into opportunities with accretive returns. We have the balance sheet, the strategy, and the team to deliver meaningfully better results."

Mammoth Energy Services announced that its subsidiary, Mammoth Energy Partners has completed a sale of all equity interests in its wholly owned subsidiary, Aquawolf to Qualus for an aggregate sales price of $30.0M, advancing the Company's ongoing transformation and portfolio optimization initiatives. Aquawolf's revenue grew from $12.1M in 2022 to $17.3M in 2024, with net income rising from $1.1M to $1.8M over the same period. For the nine months ended September 30 Aquawolf generated $12.0M in revenue and $1.3M in net income. At closing, Mammoth Energy Partners received total cash proceeds of $23.5M. An additional $2.5M was placed into escrow to fund post-closing adjustments for at least ninety days and indemnified liabilities until at least December 1, 2026. In conjunction with the transaction described above, the Company entered into a consent and release agreement with Fifth Third Bank, National Association in which Fifth Third consented to the transaction and agreed to release associated collateral. The Company's borrowing base remains unchanged.

Mammoth Energy Services announced that its subsidiary Lion Power Services, has completed a transaction to sell all equity interests in its wholly-owned subsidiaries 5 Star Electric, Higher Power Electrical, and Python Equipment, to Peak Utility Services Group for an aggregate sales price of $108.7M. At the close of the transaction, Lion received cash proceeds totaling $98.3M with the remaining $10.4M deposited into an escrow account to fund post-closing adjustments for at least ninety days and indemnified liabilities until at least May 15, 2026. As part of the transaction, Mammoth's current CEO, Phil Lancaster, will become an employee of Peak upon July 1, 2025, or appointment of a successor CEO. Additionally, the company announced it has purchased eight small passenger aircraft under lease with a commuter airline for an aggregate amount of approximately $11.5M. Mark Layton, Mammoth's CFO, stated, "We are pleased to close this monumental transaction. The sale of these infrastructure subsidiaries demonstrates tremendous expansion and growth achieved throughout our enterprise during the past eight years. Our strategic approach continues to drive growth, and this is reflected in our preliminary review of first quarter results. After reporting sequential financial improvement in the fourth quarter of 2024, we now anticipate delivering incrementally favorable results and positive Adjusted EBITDA in the first quarter of 2025. We hope to carry this momentum throughout 2025. We have also recently amended our credit facility providing enhanced options to return value to our shareholders through stock repurchases and investment opportunities in the market. Through this addition of investments and cash to our borrowing base, our overall liquidity position will further improve."

Reports Q4 revenue $53.2M vs. $52.8M last year. Phil Lancaster, CEO of Mammoth commented, "There were signs of improvement in our results for the fourth quarter. Despite typical seasonality and budget exhaustion, we experienced increased utilization which helped drive sequential improvement. Although we expect 2025 activity to be relatively steady, we have line of sight for potential upside performance compared to 2024 driven by incremental natural gas-related demand, which may further contribute to improved financial results. While these tailwinds may not materialize until later this year, we are seeing elevated activity from our customers that will lead to additional utilization improvements in the first quarter."