Mammoth reports $22M in revenue as aviation assets drive segment growth

Mammoth Energy Services (NASDAQ:TUSK) posted total revenue from continuing operations of $22 million for the quarter ended March 31, 2026, up from $11.6 million in the prior-year period.

The company achieved net income from continuing operations of $4.7 million, or $0.10 per diluted share, a sharp reversal from the $2.2 million net loss recorded in the first quarter of 2025.

Adjusted EBITDA also improved to $1.9 million, compared to a loss of $2.3 million a year ago.

The primary catalyst for the quarter’s performance was the Rental Services and Aviation Sales segment, which contributed $13 million in revenue.

This growth was largely driven by a $10 million increase in aviation-related revenue, headlined by the $6.5 million sale of an auxiliary power unit.

Additionally, the company saw higher equipment utilization, with the average number of pieces rented rising to 389 from 231 in the same quarter last year.

While aviation and accommodations saw growth, Mammoth’s traditional energy service lines faced a more challenging environment

Meanwhile, Mammoth maintained a robust balance sheet during the quarter, ending March 31 with $125.1 million in total cash, cash equivalents, and marketable securities.

As of May 6, 2026, the company reported $88.6 million in total liquidity and zero debt drawn on its $50 million revolving credit facility.

Management noted that the reduction in selling, general, and administrative (SG&A) expenses to $3.6 million helped protect margins during the transitional period.