Key Highlights

  • Mammoth Energy shares rose 9.45% on October 30, 2026.
  • Third-quarter Revenue nearly doubled to $21.3 million from $10.9 million.
  • Adjusted EBITDA reached $5.8 million versus a $4.8 million loss a year earlier.
  • The company raised its 2026 outlook for the third time this year.

Mammoth Energy Services (NASDAQ:TUSK) rose 9.45% on Friday after reporting third-quarter results that turned a year-ago loss into a small profit and raised its full-year outlook again. The energy services and infrastructure company released its numbers on October 30, and the gain came against a hostile market, though energy was one of the areas that held up.

A Sharp Turnaround

Revenue was $21.3 million, nearly double the $10.9 million a year earlier. Net Income from continuing operations was $0.3 million, or $0.01 per diluted share, compared with a loss of $12.6 million a year earlier. Adjusted EBITDA came to $5.8 million, versus an adjusted EBITDA loss of $4.8 million a year ago and $2.6 million in the second quarter.

Rental services contributed adjusted EBITDA of $5.0 million on aviation fleet expansion and higher utilization, natural sand proppant added $1.5 million after a loss, and accommodations added $1.1 million. Infrastructure remained a drag with a $0.9 million loss.

Outlook and Balance Sheet

Mammoth now expects 2026 revenue growth of more than 90% with an adjusted EBITDA Margin in the mid-teens, the third upward revision this year, and said it expects adjusted EBITDA in 2027 to rise substantially from 2026. It held $37.6 million of cash and marketable securities with no Funded Debt and an undrawn $20.0 million revolver. On October 28 it entered a senior secured term Loan of up to $58.0 million to support its aviation business.

An Energy Tailwind

The S&P 500 fell 140.32 points, or 1.8%, to 7,580.07 and the Nasdaq Composite dropped 747.73 points, or 2.9%, to 25,437.00, as Intel (NASDAQ:INTC)'s weak outlook triggered a chip rout and Amazon (NASDAQ:AMZN)'s results revived worries about AI spending. Energy held up as oil prices rose, which tends to help sentiment toward oilfield-linked businesses, though Mammoth's growth this year has come mostly from aviation rentals.

Delivery on the 2027 Target

Investors will watch whether the aviation fleet keeps growing profitably, how the new loan is deployed, whether infrastructure stops losing money and whether Mammoth delivers on the 2027 EBITDA growth it has laid out.