Will Oklahoma City’s Mammoth Energy Services be able to bounce back from second quarter losses? The answer will be revealed in about a week.
Mammoth Energy plans to disclose its 2021 third quarter financial results on Friday, November 5, 2021 at 6:00 a.m. Eastern Time.
Investors have hopes the company will improve on its losses from the second quarter of the year.
In conjunction with the earnings release, the company has scheduled a conference call and webcast to discuss third quarter results the same day at 9:00 a.m. Eastern Time (8:00 a.m. Central Time).
Mammoth is still struggling to receive hundreds of millions of dollars in payments for its electrical-power restoration work in Puerto Rico following the 2017 Hurricane Maria. It also recorded a net loss of $34.8 million or 75 cents a share in the second quarter of this year on top of $47.4 million in total revenue. The total revenue was down from $66.8 million in the first quarter of the year and also less than the $60.1 million for the second quarter of 2020.
Arty Straehla, Chief Executive Officer of Mammoth stated at the time, “While second quarter results did not meet expectations, internally we remain focused on improving near-term results as we continue migrating the Company further into the infrastructure space to enhance long-term growth and sustainability. “