Mammoth Energy Services, Inc. Earnings Recaps
Q2 2026
Aug 10, 2026
Mammoth Energy’s shares surged 15.3% following a markedly better-than-expected quarter driven by stronger-than-anticipated revenue growth, positive adjusted EBITDA, and multiple upward revisions to full-year guidance. The market rewarded the company’s clear progress on margin expansion and capital deployment discipline.
Key takeaways
- Q2 revenue grew 19% sequentially to $26.1 million, more than doubling year-over-year (up 110%).
- Adjusted EBITDA rose 37% sequentially to $2.6 million, turning positive for the second consecutive quarter with a 10% margin, ahead of earlier plans.
- Rentals segment showed strong lease revenue growth driven by higher utilization in both aviation leasing and equipment rentals, despite a decline in asset sale revenue.
- Capital deployment reached $50 million this quarter, including strategic acquisitions expanding fiber optic services and aviation leasing assets with a clear focus on returns.
- Full-year 2026 guidance was significantly raised again to over 90% revenue growth and adjusted EBITDA margins exceeding 10%, reflecting the company’s accelerating momentum and sustained cost reductions.
Q1 2026
May 13, 2026
Mammoth Energy’s stock surged 23% post-earnings, driven by a clear turnaround evidenced by its first positive EBITDA quarter in two years and raised 2026 guidance, signaling that the market is convinced by early operational improvements and disciplined capital allocation.
Key takeaways
- Revenue rose 90% year-over-year and 133% sequentially to $22 million, led primarily by the Rentals segment, particularly aviation assets.
- Adjusted EBITDA turned positive at $1.9 million, marking the first positive EBITDA quarter in eight quarters.
- Management initiated share repurchases, reflecting confidence in the business trajectory.
- Sequential SG&A declined approximately 37%, with structural cost reductions reducing annual run rate from ~$25 million in 2024 to a projected $11–12 million.
- While Sand and Drilling segments saw revenue gains, margins showed pressure due to higher operating costs and market activity factors, with targeted actions underway to improve efficiencies and profitability.