Mammoth Energy Services Inc (TUSK) Q3 2024 Earnings Call Highlights: Navigating Challenges and ...

GuruFocus.com11-02

Total Revenue: $40 million in Q3 2024, down from $51.5 million in Q2 2024. Net Loss: $23.4 million or $0.50 per diluted share for Q3 2024. Adjusted EBITDA: Negative $6.4 million for Q3 2024. CapEx: $...

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full-year 2024 CapEx budget increased to $23 million.Sand Division Revenue: 163,000 tons sold at $22.89 per ton in Q3 2024.Infrastructure Services Revenue: $26 million in Q3 2024, down from $31.4 million in Q2 2024.Cash on Hand: $4.2 million as of September 30, 2024; approximately $86 million post-settlement.Total Liquidity: $17.9 million as of September 30, 2024.Debt Status: Debt-free as of the call date.Selling, General and Administrative Expenses: $8.7 million in Q3 2024.Professional Fees Related to Puerto Rico: $1.4 million in Q3 2024; $4.1 million year-to-date.GuruFocus has detected 5 Warning Signs with TUSK.Mammoth Energy Services Inc  is now debt-free after paying off its term credit facility using settlement proceeds from the P","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"TUSK":"Mammoth Energy Services Inc."},"translate_title":"Mammoth Energy Services Inc(TUSK)2024年第三季度收益看涨期权亮点：应对挑战和……","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TUSK":1},"content_text":"Total Revenue: $40 million in Q3 2024, down from $51.5 million in Q2 2024.\nNet Loss: $23.4 million or $0.50 per diluted share for Q3 2024.\nAdjusted EBITDA: Negative $6.4 million for Q3 2024.\nCapEx: $1.9 million in Q3 2024, down from $4.9 million in Q2 2024; full-year 2024 CapEx budget increased to $23 million.\nSand Division Revenue: 163,000 tons sold at $22.89 per ton in Q3 2024.\nInfrastructure Services Revenue: $26 million in Q3 2024, down from $31.4 million in Q2 2024.\nCash on Hand: $4.2 million as of September 30, 2024; approximately $86 million post-settlement.\nTotal Liquidity: $17.9 million as of September 30, 2024.\nDebt Status: Debt-free as of the call date.\nSelling, General and Administrative Expenses: $8.7 million in Q3 2024.\nProfessional Fees Related to Puerto Rico: $1.4 million in Q3 2024; $4.1 million year-to-date.\n\n\nWarning! GuruFocus has detected 5 Warning Signs with TUSK.\n\nRelease Date: November 01, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nMammoth Energy Services Inc (NASDAQ:TUSK) is now debt-free after paying off its term credit facility using settlement proceeds from the Puerto Rico Electric Power Authority (PREPA).\nThe company plans to invest approximately $137.5 million in its business, focusing on growing its infrastructure division and modernizing its pressure pumping assets.\nMammoth Energy Services Inc (NASDAQ:TUSK) is seeing a rebound in activity in its well completion services division, with plans to activate additional fleets in the coming weeks.\nThe Infrastructure Services division is benefiting from increased bidding opportunities and macro tailwinds, such as the Infrastructure Investment and Jobs Act funds.\nThe company has a strong backlog in its engineering group and is making strategic investments to enhance its market positioning and drive long-term growth.\n\n Negative Points \n\nMammoth Energy Services Inc (NASDAQ:TUSK) experienced a 22% sequential decrease in total revenues for the third quarter of 2024, primarily due to softness in natural gas basins.\nThe well completion services division faced challenges due to continued activity softness and lower natural gas prices, resulting in underutilization of assets.\nThe Infrastructure Services division saw a sequential decline in revenue, partly due to storm-related work impacting operations.\nThe company reported a net loss of $23.4 million for the third quarter of 2024, with adjusted EBITDA at a negative $6.4 million.\nSelling, general, and administrative expenses remained high, with professional fees related to Puerto Rico totaling $1.4 million for the third quarter.\n\n Q & A Highlights \nQ: On the pressure pumping side, when considering equipment upgrades and increased demand in the second half of next year, what are the current lead times for equipment? A: Arthur Straehla, CEO: We are transitioning to Tier 4 dual fuel pumps, which are more efficient. The availability of engines is excellent, and we are handling the upgrades internally at our manufacturing facility, so there are no issues with obtaining engines.\nQ: When could you potentially add new fleets? A: Arthur Straehla, CEO: We plan to modernize the fleet over the next 8 to 10 months by doing the work internally, which saves significant costs.\nQ: Regarding the cash balance and M&A opportunities, are you looking to expand into new verticals or focus on existing business lines? A: Arthur Straehla, CEO: We are considering both options. We are focused on the T&D business due to increased customer demand for more crews. We are also open to strategic acquisitions that could bring new regional customers or management teams. We remain entrepreneurial and open to investments in various areas.\nQ: Can you elaborate on the organic demand in the T&D business? A: Mark Layton, CFO: We are seeing organic demand increase by 25% to 30% over our current run rate in the T&D business, driven by changing customer behavior.\nQ: What is the company's strategy for future growth and improving operating results? A: Arthur Straehla, CEO: We are focused on positioning Mammoth for future growth and success, leveraging our talented team members. We aim to improve operating results and explore new opportunities to create value.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2480281700"}