Mammoth Energy Services, Inc. (TUSK) is an energy services provider engaged in the building and restoration of the electric grid for different types of utilities. It also supports the oil and natural gas reserves exploration.
The price of TUSK stock in the early trading session on March 4, 2022, was last checked to be $1.42 with a gain of 1.30%.
TUSK: Key Financials
On March 4, 2022, TUSK released its consolidated unaudited financial statement for the fourth quarter ended December 31, 2021. Some of the key features are discussed here.
Revenue
Total revenue in Q4 2021 was $57.2 million as compared to $85.1 million in the same quarter of 2020. The company observed a significant decline of $27.9 million in its total revenue over the year.
EPS
Basic and diluted net loss per share in Q4 2021 was $13.3 million or $0.28 corresponding to $11.9 million or $0.26 in the comparable quarter of 2020. The company recorded a decline in its EPS over the year.
TUSK: Events and Happenings
On December 1, 2021, TUSK reported that its fiber division had been awarded two fiber-based agreements with electric cooperatives. Under the terms and conditions of the first contract, it will provide make-ready construction facilities in connection with fiber installation. Under the terms of the second agreement, it will provide fiber installation facilities. The projects are anticipated to generate a revenue of $7.7 million.
On November 18, 2021, USK updated on the contract award by its subsidiary by a major enterprise to design the building of EV charging station infrastructure to be utilized in its clean transportation steps. The company will provide assistance in civil and structural engineering, electrical distribution design, drafting and mapping, and construction support. The contract was issued at $5 million and will be completed by 2024.
Conclusion
TUSK stock, like other companies, also faced turmoil in the pandemic as its stock price dropped by 73% in the past year. The recent stock gain is the impact of its financial statement release as its revenue.
