Mammoth Energy Reports Q3 2026 Profitability Driven by Aviation Fleet Expansion
Mammoth Energy (TUSK) returned to profitability in the third quarter of 2026, reporting a net income of $0.3 million compared to a significant loss in the prior-year period. The company's revenue surged 95% year-over-year to $21.3 million, fueled primarily by its Rental Services segment and a strategic pivot toward higher-margin aviation leasing. This shift resulted in Adjusted EBITDA more than doubling from the previous quarter to $5.8 million. The company significantly expanded its aviation fleet to 44 assets and secured a new $58 million senior secured term loan facility with Bank7, marking its first asset-backed financing against the aviation portfolio. While some segments like Sand and Drilling saw seasonal declines in revenue, management raised its 2026 Adjusted EBITDA margin guidance to the mid-teens and projected year-over-year growth of over 40% for 2027.
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