Mammoth Energy Services, Inc.
- Open
- 3.30
- Day high
- 3.30
- Day low
- 3.05
- Prev close
- 3.25
- Volume
- 73K
- Mkt cap
- $142M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.5
- P/S
- 2.3
- Yield
- —
- Per share
- —
- ▲Insiders net buying $10.5M over the last 3 months (5 open-market buys, 0 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions accumulating (13F)
Mammoth Energy Services, Inc. (TUSK) is a Industrials company listed on NASDAQ. The stock is down 7% over the past year. Over the trailing 3 months, insiders filed 5 open-market buys and 0 sales (SEC Form 4).
Mammoth Energy Services, Inc. (TUSK) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TUSK earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 11, 2026 | — | $0.11 | — | $22M | — |
| Mar 6, 2026 | $-0.08 | $-0.26 | -225.0% | $9M | -75.9% |
| Oct 31, 2025 | $-0.07 | $-0.25 | -257.1% | $15M | -65.3% |
| Aug 8, 2025 | $-0.06 | $-0.74 | -1133.3% | $16M | -62.5% |
| Mar 7, 2025 | $-0.14 | $-0.32 | -128.6% | $53M | +34.7% |
| Nov 1, 2024 | $-0.01 | $-0.50 | -4900.0% | $40M | -15.2% |
| Aug 9, 2024 | $-0.07 | $-3.25 | -4533.6% | $52M | +19.9% |
| May 2, 2024 | $-0.03 | $-0.25 | -733.3% | $43M | -22.2% |
| Mar 1, 2024 | $-0.09 | $-0.12 | -33.3% | $53M | -18.1% |
| Nov 9, 2023 | $0.06 | $0.02 | -66.7% | $65M | -14.3% |
| Aug 11, 2023 | $0.10 | $-0.09 | -190.0% | $75M | -12.4% |
| Apr 27, 2023 | $0.09 | $0.17 | +88.9% | $116M | -3.4% |
TUSK insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 22, 2026 | WEXFORD CAPITAL LPdirector, 10 percent owner, officer: Chief Business Officer | Buy | 4,019,574 | $2.60 |
| Jun 15, 2026 | Amron Arthur Hdirector | Buy | 2,000 | $3.28 |
| Jun 15, 2026 | Amron Arthur Hdirector | Buy | 2,500 | $3.22 |
| May 28, 2026 | Amron Arthur Hdirector | Buy | 3,000 | $3.25 |
| May 28, 2026 | Amron Arthur Hdirector | Buy | 2,500 | $3.24 |
| Dec 15, 2025 | Amron Arthur Hdirector | Buy | 10,000 | $1.89 |
| May 27, 2025 | SMITH ARTHUR Ldirector | Sell | 20,000 | $2.51 |
| May 21, 2025 | SMITH ARTHUR Ldirector | Sell | 50,000 | $2.51 |
| May 21, 2025 | SMITH ARTHUR Ldirector | Sell | 15,000 | $2.49 |
| Dec 16, 2024 | Amron Arthur Hdirector | Buy | 1,000 | $2.97 |
| Nov 26, 2024 | Booker Corey J.director | Sell | 10,000 | $3.43 |
| Nov 26, 2024 | Booker Corey J.director | Sell | 15,000 | $3.47 |
| Nov 22, 2024 | Booker Corey J.director | Sell | 6,709 | $3.25 |
| Nov 22, 2024 | Booker Corey J.director | Sell | 5,000 | $3.21 |
| Nov 15, 2024 | Booker Corey J.director | Sell | 7,100 | $3.68 |
Source: TUSK SEC Form 4 filings, latest Jun 22, 2026. For informational purposes only — not investment advice.
See the full TUSK insider & 13F page →Mammoth Energy Services, Inc. company profile
Overview
Mammoth Energy Services, Inc. (NASDAQ:TUSK) is a diversified energy services company that was incorporated in 2016 and went public the same year. Headquartered in Oklahoma City, Oklahoma, the company operates across multiple segments of the energy industry, providing services ranging from hydraulic fracturing and sand mining to electrical infrastructure construction and maintenance. The company has undergone significant transformation in recent years, including leadership changes and strategic asset sales, while maintaining a focus on serving oil and gas producers, utilities, and government entities across the United States and Canada.
Business
Mammoth Energy Services operates as a diversified energy service provider across four primary business segments, each serving different aspects of the energy infrastructure ecosystem. The Well Completion Services segment provides hydraulic fracturing services, which is a process used to enhance oil and natural gas production from low-permeability rock formations. This involves pumping high-pressure fluid mixtures into underground formations to create fractures that allow hydrocarbons to flow more freely to the wellbore. The company operates pressure pumping fleets that can be deployed to drilling sites, with recent operations running between 1-2 active fleets out of a total fleet capacity of 6. This segment also provides complementary services including sand hauling, water transfer, coil tubing, pressure control, flowback, cementing, and acidizing services. The Natural Sand Proppant Services segment involves mining, processing, and selling natural sand that serves as "proppant" - small particles used in hydraulic fracturing to keep the created fractures open, allowing oil and gas to flow. The company operates sand mining facilities and also purchases processed sand from third-party suppliers for resale. In recent quarters, the company has sold approximately 140,000-190,000 tons per quarter at prices ranging from $21-25 per ton. The Infrastructure Services segment provides electrical transmission and distribution services, including engineering, design, construction, upgrade, maintenance, and repair of high-voltage transmission lines, substations, and distribution systems. This segment also offers storm restoration services and commercial electrical work. The company operates over 100 crews and has been experiencing growth driven by grid modernization needs, data center expansion, and infrastructure investment programs. This segment has been generating approximately $25-31 million in quarterly revenue. The Drilling Services segment offers contract land drilling and directional drilling services, along with rig moving services for land-based drilling contractors. Additionally, the company provides various ancillary services including aviation services, equipment rental, crude oil hauling, transportation services, remote accommodation services, and equipment manufacturing.
Revenue model
Mammoth Energy Services generates revenue through multiple business models across its diversified service portfolio. The company primarily operates on a service fee model, charging customers for the use of its specialized equipment, expertise, and labor. In the Well Completion Services segment, the company charges customers based on the number of hydraulic fracturing stages completed and the duration of equipment deployment. Revenue is typically generated per "stage" of fracturing work, with recent operations showing approximately 292-380 stages pumped per quarter when active. Each active pressure pumping fleet can generate approximately $9-10 million in annual net income and $15 million in annual adjusted EBITDA when fully utilized. The Natural Sand Proppant Services segment operates on a product sales model, selling sand by the ton to hydraulic fracturing operators. The company both mines its own sand and purchases sand from suppliers for resale, generating margins on both mining operations and trading activities. Recent pricing has ranged from $21-25 per ton. The Infrastructure Services segment generates revenue through project-based contracts with utilities, government entities, and commercial customers. This includes both time-and-materials contracts for maintenance and repair work, as well as fixed-price contracts for construction projects. The company operates over 100 crews that can be deployed for transmission line construction, substation work, storm restoration, and routine maintenance. Several factors significantly impact the company's margins and profitability. Commodity price volatility, particularly natural gas prices, directly affects demand for well completion services, as lower gas prices reduce drilling activity. Seasonal weather patterns create both challenges and opportunities, with severe weather increasing demand for emergency infrastructure repair services while potentially disrupting routine operations. Labor availability and costs in specialized technical fields can significantly impact margins, especially during periods of high industry activity. Equipment utilization rates are critical, as the company maintains significant fixed assets that generate optimal returns only when fully deployed. Supply chain constraints for specialized equipment parts and materials can increase costs and limit operational flexibility.
Competitive moat
Mammoth Energy Services operates in highly competitive, cyclical industries with limited sustainable competitive advantages. The company's primary moat lies in its diversified service portfolio and specialized equipment assets, which provide some protection against downturns in any single market segment. The company's infrastructure services segment offers the strongest competitive positioning, as it requires specialized expertise, regulatory compliance capabilities, and established relationships with utility companies. The technical complexity of high-voltage transmission work and the safety-critical nature of utility infrastructure create barriers to entry for new competitors. Additionally, the company's ability to provide emergency storm restoration services requires pre-positioned crews and equipment, which represents a form of operational moat. In the sand proppant business, the company benefits from owning mining assets and having established logistics capabilities, but this is a relatively commoditized business with numerous competitors. The well completion services segment faces intense competition from larger, better-capitalized hydraulic fracturing companies, and the company's relatively small scale (1-2 active fleets versus industry leaders operating 20+ fleets) limits its pricing power and operational efficiency. The company's geographic concentration in North American energy markets creates both opportunities and vulnerabilities. While this provides deep local market knowledge and established customer relationships, it also exposes the company to regional economic cycles and regulatory changes. Potential disruption comes from several sources: larger, more efficient competitors in hydraulic fracturing services; technological advances in drilling and completion techniques that could reduce demand for traditional services; the ongoing energy transition toward renewable sources; and potential consolidation among customers that could increase their bargaining power. The company's relatively small scale and limited financial resources compared to industry leaders make it vulnerable to extended downturns or rapid technological changes.
Risks & safety
Mammoth Energy Services presents a mixed margin of safety profile, with strong liquidity but operational challenges. **Liquidity and Solvency:** - Strong cash position of $56.7 million in unrestricted cash as of Q1 2025 - Debt-free balance sheet following payoff of term credit facility with PREPA settlement proceeds - Current ratio of 1.78, indicating adequate short-term liquidity - Positive free cash flow generation capability, though recent quarters show volatility **Valuation Metrics:** - Trading at 0.39x book value, suggesting potential undervaluation - EV/EBITDA of 1.8x based on recent positive EBITDA - Market cap of approximately $129 million against $252 million in shareholders' equity **Operational Risks:** - Recent quarterly losses and negative EBITDA in several periods - Highly cyclical business model dependent on energy market conditions - Small scale relative to competitors limits pricing power and operational efficiency - Significant exposure to volatile natural gas and oil markets **Other Considerations:** - Substantial PREPA settlement provided significant cash infusion - Diversified revenue streams provide some downside protection - Management transition and strategic refocusing ongoing
Recent development
Mammoth Energy Services has undergone significant strategic transformation over the past several years, driven by both market conditions and major financial settlements. The most significant development was the PREPA settlement, where the company received $188.4 million in settlement payments related to infrastructure work performed in Puerto Rico, which allowed the company to eliminate debt and build a substantial cash position. In response to challenging market conditions in the hydraulic fracturing sector, the company has rightsized its operations, reducing active pressure pumping fleets from 4-5 fleets in 2022 to 1-2 fleets currently. Management has focused on cost management and operational efficiency, maintaining flexibility to reactivate equipment when market conditions improve. The company has made strategic investments in its infrastructure services segment, adding 20 crews (a 25% increase) to capitalize on growing demand from grid modernization, data center expansion, and infrastructure investment programs. This segment has shown consistent growth and profitability compared to the more volatile oil and gas services segments. Recent leadership changes include the transition of CEO Phil Lancaster to Peak Utility Services Group and the appointment of Bill Lancaster as the new CEO, with a focus on unlocking shareholder value and strategic capital deployment. The company has also made strategic acquisitions, including the purchase of 8 small passenger aircraft for $11.5 million to support its aviation services. In early 2025, the company completed the sale of three infrastructure subsidiaries to Peak Utility Services Group for $108.7 million, further strengthening its balance sheet. Management has indicated plans to modernize its pressure pumping fleet with Tier 4 dual-fuel engines and explore strategic acquisitions across its business segments, particularly in transmission and distribution services.
TUSK company profile · for informational purposes only — not investment advice.
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