Recent Updates — TUSK

Mammoth Energy Services' aviation subsidiaries entered into a Loan and Security Agreement with Bank7 providing for up to $58.0 million in senior secured term loans, split between a $25.0 million Term Loan A and a $33.0 million Term Loan B. The facility is intended to finance the acquisition of additional aircraft assets. No amounts were advanced at closing; Term Loan B availability depends on Bank7 selling participation interests of at least $10.0 million. Borrowings bear interest at the greater of 6.25% or the WSJ prime rate plus 0.50%, with monthly principal and interest payments beginning in January 2027 under a 48-month amortization schedule maturing in October 2030. Mammoth Energy Services operates an aviation leasing platform, heavy equipment rental services, fiber optic services, natural sand proppant supply, workforce accommodations, and directional drilling.

Mammoth Energy Services reported third-quarter 2026 net income from continuing operations of $0.3 million, or $0.01 per diluted share, a significant turnaround from the $12.6 million loss in the prior year period. Revenue increased 95% year-over-year to $21.3 million, driven by aviation fleet expansion and higher utilization. Adjusted EBITDA more than doubled sequentially to $5.8 million with a margin of 27.2%. The company raised its full-year 2026 outlook for the third time this year, expecting revenue growth exceeding 90% and mid-teens Adjusted EBITDA margins. Additionally, Mammoth announced an initial 2027 outlook anticipating more than 40% Adjusted EBITDA growth. The company also entered into a $58 million senior secured term loan facility to support aviation growth. Mammoth Energy Services operates in the energy services sector with an expanding aviation leasing platform.

Mammoth Energy Services reported second quarter 2026 results with revenue increasing 110% year-over-year to $26.1 million and Adjusted EBITDA rising 37% sequentially to $2.6 million. The company incurred a net loss from continuing operations of $1.2 million, or $0.02 per diluted share, compared to a net income of $4.7 million in the first quarter of 2026. Management raised its full-year 2026 outlook for the second time this year, expecting revenue growth to exceed 90% and Adjusted EBITDA margins to surpass 10%. The firm completed acquisitions of Mission Construction and BERE Rentals to expand fiber infrastructure capabilities while deploying capital into aviation assets. Mammoth Energy Services operates in the oil and natural gas, aviation, and utility infrastructure industries.