Quarterly ResultMay 11, 2026, 08:07 AM
Mammoth Energy Q1 Revenue $22M; Net Income $4.7M; Raises 2026 Outlook
AI Summary
Mammoth Energy Services, Inc. reported strong first-quarter 2026 financial results, with total revenue from continuing operations increasing to $22.0 million and net income from continuing operations reaching $4.7 million, or $0.10 per diluted share. The company achieved a positive Adjusted EBITDA of $1.9 million, a significant improvement from previous quarters. Management highlighted a repositioned business, a debt-free balance sheet with $125.1 million in cash, and raised its full-year 2026 Adjusted EBITDA outlook to positive.
Key Highlights
- Total revenue from continuing operations increased to $22.0 million in Q1 2026, up from $11.6 million in Q1 2025.
- Net income from continuing operations was $4.7 million ($0.10/diluted share), reversing a $2.2 million loss in Q1 2025.
- Adjusted EBITDA from continuing operations turned positive at $1.9 million, up from ($2.3) million in Q1 2025.
- The company ended Q1 2026 debt-free with $125.1 million in cash, cash equivalents, and marketable securities.
- Rental services revenue grew to $13.0 million, primarily driven by a $6.5 million aviation unit sale.
- Selling, general and administrative expense decreased to $3.6 million from $4.1 million in Q1 2025.
- Mammoth Energy initiated its share repurchase program during the quarter.
- The company raised its 2026 outlook, now expecting to achieve full-year Adjusted EBITDA positive.