Mammoth Energy Services (NASDAQ:TUSK) reported a sharp rebound in first-quarter 2026 results, with executives describing the period as an “inflection point” after several quarters of portfolio restructuring, cost reductions and operational fixes.
Chief Financial Officer Mark Layton said first-quarter revenue rose to $22 million, up 90% from a year earlier and 133% sequentially
Adjusted EBITDA from continuing operations was positive $1.9 million, compared with a loss of $6.8 million in the fourth quarter of 2025 and a loss of $2.3 million in the prior-year period. Layton said it was Mammoth’s first positive adjusted EBITDA quarter in eight quarters. Net income from continuing operations was $4.7 million, or $0.10 per diluted share, compared with a net loss of $12.3 million, or $0.26 per diluted share, in the fourth quarter of 2025.
In the first quarter of 2025, the company posted a net loss from continuing operations of $2.2 million, or $0.05 per diluted share. “The pivot we’ve spent the last several quarters executing — simplifying the portfolio, redeploying capital into higher-return businesses, and rebuilding the cost structure to match the size and shape of the company we are today — is now showing up in the numbers,” Layton said. Rentals and Aviation Drive Growth Mammoth’s rental segment was the company’s largest contributor in the quarter. Segment revenue was $13 million, up approximately 294% sequentially and 584% year-over-year.