Mammoth Energy Services, Inc. · NASDAQ:TUSK
Mammoth Energy Services — Q1 2023 Earnings Presentation
21 slides from Mammoth Energy Services's earnings presentation, Apr 27, 2023
Slide 1: Mammoth Energy Services Investor Presentation Spring 2023
MAMMOTH ENERGY SERVICES INVESTOR PRESENTATION SPRING 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: Q1 2023 Financial Performance
Q1 2023 FINANCIAL PERFORMANCE Q1 2023 Adj EBITDA(a) by Segment ($ in millions) First Quarter Year-over-Year Growth $1.5 $(0.5) Consolidated Adj EBITDA(a) ➢Revenues up 87% Q1-23 – $30.7 million $4.2 Q1-22 – $9.3 million ➢Net income up 157% $12.6 ➢Consolidated Adjusted EBITDA(a) up 230% $12.9 Q1 2023
Slide 6: Compelling Investment Thesis
COMPELLING INVESTMENT THESIS Diversified Portfolio of Assets Oilfield Services Well Completion revenues up 182% for Q1 2023 vs prior year - Three pressure pumping fleets active at the end of Q1 2023 Infrastructure Services and Project Work Infrastructure revenues up 23% for Q1 2023 vs prior year - O
Slide 7: Oilfield Services
Oilfield Services ➢ Three pressure pumping fleets operating in April 2023 ➢ Two in northeast region ➢ One in mid-continent region ➢ Currently have 30 Tier 2 dual fuel pumps in service and 10 additional units being upgraded to be put into operation in 2023 ➢ Pumped 2,018 stages in Q1 2023 vs. 699 sta
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 ➢ Currently producing ~143K tons per month (with ability to expand) ➢ Own
Slide 9: Natural Sand Proppant Services
Natural Sand Proppant Services Sold approx. 391K tons of sand in Q1 2023 vs. 329K tons in Q1 2022 Made ~$10 spread per ton in Q1 2023 Q1 2023 Plant Production (a)(b) (b) (b) Capacity Reserves Output Cost/Ton Piranha Facility 2,030 37,351 257 $ 18.48 Taylor Facility 1,695 23,822 171 $ 13.88 (c) Muski
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 475+ 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 $1.0 $1.0 Infrastructure $1.0 Well Compl
Slide 14: TUSK Remains Unpaid For Vital Hurricane Maria Recovery Work
TUSK Remains Unpaid For Vital Hurricane Maria Recovery Work $390M (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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