The fourth quarter and full-year financial results for Mammoth Energy Services, Inc. will be revealed in early March as company executives remain hopeful the firm reversed the losses experienced in the third quarter.
The Oklahoma City energy firm plans a release before the market opens on Friday, March 7, 2025. Executives will follow the release with a conference call and webcast to discuss the results on the same day at 10 a.m. Central Time.
The company recorded some dismal results in the third quarter when total revenue of $40 million was down from $65 million the same quarter of the previous year. It also suffered a $24 million or 50 cents a share net loss in the quarter, an increase from the $1.1 million loss in the third quarter of 2023.
But Chief Executive Officer Arty Straehla was optimistic things would turn around in the fourth quarter, stating in a release,
“Softness across our Well Completion Services markets appeared to have bottomed in the third quarter, and we expect a rebound in the fourth quarter. More importantly, we were pleased to have recently received a total of $168.4 million of the $188.4 million owed to our subsidiary through the Settlement Agreement with the Puerto Rico Electric Power Authority, or PREPA. We are now debt free and have plans to invest in both our Infrastructure Services and Well Completion Services divisions over the next year.”
