When Mammoth Energy Services Chief Executive Arty Straehla announced second quarter financial results in August, he admitted the second half of the year would be challenging.
After all, the company had just signed two non-binding agreements with lenders to refinance and repay its existing revolving credit facility. It also recorded a 16% drop from a year earlier in second quarter total revenue of $75.4 million, plus a 35% plunge compared to the $116.3 million in the first quarter of 2023.
Mammoth also had a net loss of $4.5 million from the second quarter compared to a year earlier. So, investors will learn next week how the company weathered the financial storm as it releases its third quarter financial results.
The Oklahoma City-based firm will make the release before the opening of markets on Thursday, November 9. The release will be followed by a conference call at 9 a.m. Central Time where leadership will discuss the results.