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Mammoth Energy Services Reports Third Quarter 2026 Operational and Financial Results

Mammoth Energy Services, Inc. (NASDAQ: TUSK) recently announced its operational and financial results for the third quarter ending September 30, 2026. The company showcased remarkable growth, with total revenue soaring to $21.3 million—an astounding increase of 95% year-over-year.

Revenue and Income Highlights

In comparison to the third quarter of 2025, where revenue stood at $10.9 million, this growth is noteworthy. Furthermore, the company reported a net income from continuing operations of $0.3 million, rebounding from a significant loss of $12.6 million during the same period last year, and a loss of $1.2 million just the previous quarter.

Adjusted EBITDA more than doubled sequentially to reach $5.8 million, marking a substantial adjusted EBITDA margin of 27.2%—a significant increase from 10.0% achieved in the previous quarter and 15.0% for the first three quarters of 2026 overall.

The rental services segment also saw a sequential increase in adjusted EBITDA, rising 35% to $5.0 million. The company expanded its aviation portfolio to include 44 total assets, up from just 15 the previous year, with 29 of these assets generating revenue by the end of September 2026.

Growing Financial Outlook

In light of these achievements, Mammoth Energy raised its outlook for the entire year of 2026 for the third time. Projected revenue growth is expected to exceed 90%, with adjusted EBITDA margins anticipated in the mid-teens. This is attributed largely to the positive developments within the aviation leasing segment and other operational improvements across the board.

Operational Reporting Segments

Mammoth Energy detailed its performance across various segments, noting that its rental services segment earned revenue of $9.6 million compared to $2.8 million the prior year. This segment's growth was driven by an increase in aviation fleet utilization and rental of heavy equipment.

Moreover, the natural sand proppant services segment generated $5.2 million—a substantial rise from $2.7 million compared to the previous year—despite a slight dip in revenue from the second quarter of 2026. The average sales price for natural sand rose due to a favorable change in the product mix, enhancing overall profitability.

The accommodation services segment also saw growth, producing revenue of $3.4 million, while infrastructure services contributed an additional $1.1 million. Although the drilling services segment experienced a slight revenue decline due to typical seasonal variations, overall, performance remained strong across other areas.

Increased Capital Deployment and Investment

As of September 30, 2026, Mammoth possesses a robust financial position with approximately $37.6 million in cash and marketable securities, alongside a significant investment of $41.8 million—a majority directed towards aviation assets. Furthermore, the company has no funded debt, providing a solid base for future investments.

Subsequent to the quarter, Mammoth entered into a senior secured term loan facility with Bank7, valued at up to $58.0 million to fuel its aviation growth, further securing its expansion plans.

Looking Ahead

The company’s outlook for 2027 is equally promising, with adjusted EBITDA expected to increase by over 40% compared to the determined figures for 2026. Mammoth's strategy clearly aims to enhance its aviation leasing platform while ensuring improved operational execution driving consistent margins.

In conclusion, Mammoth Energy Services demonstrated an outstanding quarter fueled by significant revenue growth, operational enhancements, and a confident outlook for future performance, indicating its commitment to operational excellence and value creation in the energy sector.