Mammoth Energy Services, Inc. · NASDAQ:TUSK
Mammoth Energy Services — Q3 2023 Earnings Presentation
21 slides from Mammoth Energy Services's earnings presentation, Nov 9, 2023
Slide 1: Mammoth Energy Services Investor Presentation Fall 2023
MAMMOTH ENERGY SERVICES INVESTOR PRESENTATION FALL 2023 (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: Q3 2023 Financial Performance
Q3 2023 FINANCIAL PERFORMANCE Q3 2023 Adj EBITDA(a) by Segment ($ in millions) Third Quarter Year-over-Year Comparison Consolidated Adj EBITDA(a) $0.5 $(0.3) Q3-23 – $13.4 million ➢Revenues down 39% $1.0 Q3-22 – $29.8 million $2.5 ➢Net income down 114% ➢Consolidated Adjusted EBITDA(a) down 55% $9.7
Slide 6: Mammoth Overview
MAMMOTH OVERVIEW Diversified Portfolio of Assets Oilfield Services Well Completion revenues down 61% for Q3 2023 vs prior year - One pressure pumping fleet active at the end of Q3 2023 - Experiencing short-term softness in the market, but see indications that activity will ramp back up in 2024 Infra
Slide 7: Oilfield Services
Oilfield Services ➢ One pressure pumping fleet operating in October 2023 ➢ Located in northeast region ➢ Currently have 36 Tier 2 dual fuel pumps and one Tier 4 dual fuel pump ➢ Pumped 577 stages in Q3 2023 vs. 1,897 stages in Q3 2022 APRIL 2021 6
Slide 8: 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 9: Natural Sand Proppant Services
Natural Sand Proppant Services Sold approx. 352K tons of sand in Q3 2023 vs. 341K tons in Q3 2022 Made ~$8 spread per ton in Q3 2023 a) Estimated functional capacity APRIL 2021 b) Amounts in thousands; frac sand reserve information prepared by John T. Boyd. See slide 1 for additional information. 8
Slide 10: 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 11: Portfolio of Turnkey Services
Portfolio of Turnkey Services High Voltage Transmission/Substations/Switchyards Projects performed by combined resources of 430+ employees and 1,000+ pieces of owned equipment TUSK Margin Enhancement (Vertical Integration Services) Project Design • Design overhead transmission & distribution electri
Slide 12: High Quality Infrastructure Customer Base
HIGH QUALITY INFRASTRUCTURE CUSTOMER BASE APRIL 2021 11
Slide 13: 2023 Capex Budget
2023 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, supply chain constraints, and liquidity requirements Infrastructure, Sand, $1.0 Drilling, and
Slide 14: TUSK Remains Unpaid For Vital Hurricane Maria Recovery Work
TUSK Remains Unpaid For Vital Hurricane Maria Recovery Work $394M (a)+ Receivable Owed to Cobra for Completed Work in Puerto Rico in 2019 ➢ Hurricane Maria destroyed Puerto Rico’s power grid in 2017 ➢ TUSK’s infrastructure service group was awarded two contracts to restore power and mobilized equipm
Slide 15: Appendix
APPENDIX APRIL 2021 14
Slide 16: Appendix: 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: Appendix: 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: Appendix: 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: Appendix: 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: Appendix: 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: Appendix: 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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