Mammoth Energy Services, Inc. · NASDAQ:TUSK
Mammoth Energy Services — Q4 2023 Earnings Presentation
21 slides from Mammoth Energy Services's earnings presentation, Mar 1, 2024
Slide 1: Mammoth Energy Services Investor Presentation
MAMMOTH ENERGY SERVICES INVESTOR PRESENTATION SPRING 2024 (NASDAQ: TUSK) December 2018
Slide 2: Forward-Looking and Cautionary Statements
Forward-Looking and Cautionary Statements The information in this investor presentation of Mammoth Energy Services, Inc. (“Mammoth” or “Mammoth Energy”) includes “forward-looking statements.” All statements, other than statements of historical facts that address activities, events or developments th
Slide 3: Experienced Management Team
EXPERIENCED MANAGEMENT TEAM Extensive Oil & Gas and Infrastructure T&D Expertise Chief Executive Officer since the Company’s formation in 2016. Previously the Chief Executive Officer of Serva Group LLC, an oilfield equipment manufacturer, as well as at Diamondback Energy Services, Inc., an energy se
Slide 4: Mammoth Energy Services
MAMMOTH ENERGY SERVICES Mammoth is an integrated, growth-oriented energy services company: Oil & Gas Sector: provides products and services to enable the exploration and development of North American onshore unconventional oil and natural gas reserves. Infrastructure Sector: focused on the construct
Slide 5: PREPA Receivable Update
PREPA RECEIVABLE UPDATE $402M (a)+ Receivable Owed to Cobra for Completed Work in Puerto Rico in 2019 ➢ TUSK remains unpaid for vital recovery work after Hurricane Maria destroyed Puerto Rico’s power grid in 2017 ➢ TUSK’s infrastructure service group was awarded two contracts to restore power and mo
Slide 6: Q4 2023 Financial Performance
Q4 2023 FINANCIAL PERFORMANCE Revenue by Segment ($ in millions) Adjusted EBITDA(a) by Segment ($ in millions) $0.6 $(0.5) $(0.6) $0.6 $0.3 $(0.9) $4.9 Consolidated Revenue $4.5 Q4-23 – $52.8 million $16.1 Q3-23 – $65.0 million Consolidated Adj EBITDA(a) $11.1 $27.2 Q4-23 – $10.5 million Q3-23 – $13
Slide 7: Mammoth Overview
MAMMOTH OVERVIEW Diversified Portfolio of Assets Oilfield Services Well Completion revenues down 21% for Q4 2023 vs Q3 2023 - One pressure pumping fleet active at the end of Q4 2023 - Experiencing short-term softness in the market, but see indications that activity may ramp back up in mid-2024 Infra
Slide 8: Oilfield Services
Oilfield Services ➢ Currently have 40 Tier 2 dual fuel pumps and one Tier 4 dual fuel pump ➢ Pumped 669 stages in Q4 2023 vs. 577 stages in Q3 2023 APRIL 2021 7
Slide 9: Natural Sand Proppant Services
Natural Sand Proppant Services ➢ Own three sand facilities in Wisconsin with access to all major Class One railroads ➢ High quality Jordan Substrate and Wonewoc Sandstone frac sand with approx. 4.4M(a) tons per annum capacity ➢ Own or control destination transloads in multiple basins with unit train
Slide 10: Natural Sand Proppant Services
Natural Sand Proppant Services Sold approx. 104K tons of sand in Q4 2023 vs. 352K tons in Q3 2023 Q4 2023 Plant Production (a)(b) (b) (b) Capacity Reserves Output Cost/Ton Piranha Facility 2,030 36,706 38,244 $ 13.37 Taylor Facility 1,695 23,191 79,416 $ 14.87 Muskie Facility(c) 675 N/A - $ - 4,400
Slide 11: Diversified Portfolio of Infrastructure Services
DIVERSIFIED PORTFOLIO OF INFRASTRUCTURE SERVICES Engineering, Procurement & Construction (EPC): Services & Capabilities Broad Service Capabilities & Specialized Crews Design Evaluate Develop Construct Analyze Storm Project Transmission Distribution Substation Engineering Repair Management Rapid Grow
Slide 12: Portfolio of Turnkey Services
Portfolio of Turnkey Services High Voltage Transmission/Substations/Switchyards Projects performed by combined resources of 450+ employees and 1,000+ pieces of owned equipment TUSK Margin Enhancement (Vertical Integration Services) Project Design • Design overhead transmission & distribution electri
Slide 13: High Quality Infrastructure Customer Base
HIGH QUALITY INFRASTRUCTURE CUSTOMER BASE APRIL 2021 12
Slide 14: 2024 Capex Budget
2024 Capex Budget Major Projects ➢ Dual fuel pressure pump upgrades ➢ Maintenance CapEx for pressure pumping fleet ➢ Growth capital, including dual fuel upgrades, will remain dependent on market conditions and liquidity requirements Infrastructure Sand & Other Segments $1.0 $1.0 Well Completions $13
Slide 15: Appendix
APPENDIX APRIL 2021 14
Slide 16: Consolidated Adjusted EBITDA Reconciliation
Appendix: Consolidated Adjusted EBITDA Reconciliation Adjusted EBITDA is a supplemental non-GAAP financial measure that is used by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. We define Adjusted EBITDA as net income or
Slide 17: Well Completion Services Adjusted EBITDA Reconciliation
Appendix: Well Completion Services Adjusted EBITDA Reconciliation Adjusted EBITDA is a supplemental non-GAAP financial measure that is used by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. We define Adjusted EBITDA as ne
Slide 18: Infrastructure Services Adjusted EBITDA Reconciliation
Appendix: Infrastructure Services Adjusted EBITDA Reconciliation Adjusted EBITDA is a supplemental non-GAAP financial measure that is used by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. We define Adjusted EBITDA as net
Slide 19: Natural Sand Proppant Services Adjusted EBITDA Reconciliation
Appendix: Natural Sand Proppant Services Adjusted EBITDA Reconciliation Adjusted EBITDA is a supplemental non-GAAP financial measure that is used by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. We define Adjusted EBITDA
Slide 20: Drilling Services Adjusted EBITDA Reconciliation
Appendix: Drilling Services Adjusted EBITDA Reconciliation Adjusted EBITDA is a supplemental non-GAAP financial measure that is used by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. We define Adjusted EBITDA as net incom
Slide 21: Other Services Adjusted EBITDA Reconciliation
Appendix: Other Services(a) Adjusted EBITDA Reconciliation Adjusted EBITDA is a supplemental non-GAAP financial measure that is used by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. We define Adjusted EBITDA as net incom
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