Mammoth Energy Services, Inc. reported significant financial improvements in its first quarter of 2026, with total revenue reaching $22.0 million, a 90% increase from $11.6 million in the same period last year. The surge in revenue was primarily driven by substantial growth in rental services and aviation sales, which saw an increase of $11.1 million, or 584%, to $13.0 million. The company also recorded a net income of $5.2 million, or $0.11 per diluted share, compared to a net loss of $0.5 million, or $(0.01) per diluted share, in the first quarter of 2025. Adjusted EBITDA from continuing operations was reported at $1.9 million, a notable recovery from a loss of $2.3 million in the prior year.
The company experienced a marked increase in operational activity across several segments, particularly in rental services and accommodation services, which contributed to the overall revenue growth. However, revenue from natural sand proppant services decreased by 42% to $3.9 million, attributed to a decline in tons sold and a decrease in average sales price per ton. Infrastructure services revenue also fell by 57% to $0.3 million, reflecting reduced activity in fiber optic services.
Mammoth Energy has undergone strategic changes, including the divestiture of several business segments in 2025, which has been reflected in its financial reporting. The company sold its infrastructure services entities for approximately $108.7 million and its hydraulic fracturing equipment for $15.0 million, among other transactions. These divestitures are classified as discontinued operations, allowing the company to focus on its core services in the oil and natural gas, aviation, and utility infrastructure sectors.
Operationally, Mammoth Energy reported a total employee headcount of 1,200 as of March 31, 2026, a slight increase from the previous year. The company continues to expand its geographic footprint, particularly in the northeastern and midwestern United States, as well as in Canada, where it provides accommodation services for oilfield workers. The company’s liquidity position remains strong, with cash and cash equivalents totaling $92.7 million and no outstanding borrowings under its revolving credit facility as of the end of the quarter.
Looking ahead, Mammoth Energy anticipates generating positive adjusted EBITDA from continuing operations for the full year 2026, driven by improved execution and capital efficiency across its service offerings. The company remains vigilant in monitoring market conditions, including oil and natural gas prices, which significantly influence its operational performance and strategic decisions.
About MAMMOTH ENERGY SERVICES, INC.
Mammoth Energy Services is an integrated energy services company providing well completion, hydraulic fracturing, sand proppant, and infrastructure services for oil, natural gas, and electrical grid projects in North America. Its core offerings include pressure pumping, sand mining, electrical construction, and maintenance, serving exploration, production, and utility markets. The company leverages extensive industry experience, strategic geographic positioning, and a diversified service portfolio to support unconventional resource development and electrical infrastructure growth.
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