Mammoth Energy Services, Inc. reported a modest increase in revenue for the second quarter of 2025, totaling $16.4 million, up from $16.0 million in the same period last year. The growth was primarily driven by increased revenue in the rental services, infrastructure services, and natural sand proppant services segments. The company also achieved a net income of $8.8 million, or $0.18 per diluted share, a significant turnaround from a net loss of $156.0 million, or $3.25 per diluted share, in the prior year, which included substantial charges related to a settlement agreement with the Puerto Rico Electric Power Authority (PREPA).
In terms of operational changes, Mammoth Energy completed the divestiture of several subsidiaries, including 5 Star Electric, LLC and Higher Power Electrical, LLC, for a total of $108.7 million in April 2025, and sold equipment used in hydraulic fracturing services for $15.0 million in June 2025. These transactions reflect a strategic shift in the company's focus and have been classified as discontinued operations in the financial statements. The company’s total assets decreased to $364.2 million as of June 30, 2025, down from $384.0 million at the end of 2024, largely due to these divestitures.
Mammoth Energy's operational metrics showed a mixed performance across its segments. The rental services segment saw a 72% increase in revenue to $3.1 million, attributed to a rise in equipment rentals. Infrastructure services revenue increased by 20% to $5.4 million, driven by higher fiber optic activity. However, accommodation services revenue fell by 33% to $1.8 million due to decreased utilization. The natural sand proppant services segment reported a 15% increase in revenue, reaching $5.4 million, despite a decline in average sales price per ton of sand sold.
The company’s financial performance was impacted by a significant impairment charge of $31.7 million related to long-lived assets in the natural sand proppant operations. This impairment, along with a decrease in selling, general, and administrative expenses from $95.3 million in Q2 2024 to $5.3 million in Q2 2025, contributed to a reduced operating loss of $36.4 million compared to $96.0 million in the prior year. Looking ahead, Mammoth Energy anticipates an adjusted EBITDA loss from continuing operations between $3.0 million and $4.0 million for the second half of 2025, while planning to fund this loss through proceeds from the sale of underutilized assets.
About MAMMOTH ENERGY SERVICES, INC.
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