Mammoth Energy Services, Inc. reported its financial and operational results for the fourth quarter and full year ended December 31, 2024, on March 7, 2025. Total revenue for Q4 2024 was $53.2 million, a slight increase from $52.8 million in Q4 2023 and a sequential improvement from $40.0 million in Q3 2024. However, full-year 2024 revenue decreased to $187.9 million from $309.5 million in 2023.
The company reported a net loss of $15.5 million, or $0.32 per diluted share, for Q4 2024, compared to a net loss of $6.0 million, or $0.12 per diluted share, in Q4 2023. The full-year 2024 net loss was $207.3 million, or $4.31 per diluted share, significantly higher than the $3.2 million loss in 2023, largely due to an $89.2 million charge related to the PREPA settlement included in SG&A expenses. Adjusted EBITDA for Q4 2024 was negative $4.8 million.
CEO Phil Lancaster noted signs of improvement in Q4 results, with increased utilization. He stated that the company expects 2025 activity to be relatively steady, with potential upside from incremental natural gas-related demand later in the year. Mammoth ended 2024 with a debt-free balance sheet and approximately $86 million in cash, which it plans to strategically utilize for accretive investments and future growth.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.