Mammoth Energy Services' Q4 Results Miss Estimates

Mammoth Energy Services Inc TUSK reported a fourth-quarter revenue decline of 32.7% year-over-year to $57.23 million, missing the consensus of $62.90 million.
Q4 operating loss reduced to $(12.08) million from $(23.08) million in 4Q20.
Adjusted EPS improved to $(0.25) from $(0.26) a year ago, missing the consensus of $(0.23).
Adjusted EBITDA improved to $17.21 million from $7.54 million a year ago, and the margin expanded to 30.1% from 8.9%.
SG&A expenses, as a percentage of total revenue, SG&A expenses were 6% in 4Q21, compared to 36% in 4Q20 and 73% for 3Q21.
As of March 2, 2022, Mammoth had cash on hand of $7.2 million and outstanding borrowings under its revolving credit facility of $83.7 million.
The company used cash in operating activities of $18.85 million in FY21, compared to cash generated of $6.97 million a year ago.
"As we enter 2022, we see improved macro-economic trends that we believe will drive increased demand for our two largest business segments, well completion services, and infrastructure services," commented CEO Arty Straehla.
Price Action: TUSK shares closed higher by 4.05% at $1.54 on Thursday.