The following is a summary of the Mammoth Energy Services, Inc. (TUSK) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Mammoth Energy Services reported Q2 2024 revenue of $51.5 million, a 19% increase from Q1 2024.

• The company recognized a $170.7 million non-cash expense related to the PREPA settlement.

• Net loss for Q2 2024 was $156 million, primarily due to the PREPA settlement.

• Adjusted EBITDA for Q2 2024 was a negative $160.7 million, heavily impacted by the one-time settlement charges.

Business Progress:

• The settlement with PREPA allows for the payoff of their term credit facility and boosts cash for reinvestment.

• Indications of stable activity levels into the latter half of 2024 with potential increases anticipated in 2025.

• Infrastructure services demonstrated growth and resilience, with increased revenue from storm-related work.

Opportunities:

• Forecasted active storm season might boost demand for the company's infrastructure services.

• Gradual release of Infrastructure Investment and Jobs Act funds may provide growth opportunities in fiber, engineering, and transmission and distribution projects.

Risks:

• Persistent softness in natural gas basins continues to impact well completion services and other oil field services.

• Potential activity stagnation throughout 2024, with incremental improvements expected in 2025.

More details: Mammoth Energy Services IR

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