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Mammoth Energy Services (TUSK) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 30, 2026 · Mammoth Energy Services (TUSK) Q3 2026 earnings results →
Q3 2026 Revenue up 97% year over year to $21.3M · 1¢ of every $1 of revenue kept as net profit · operating margin -2.0%
Mammoth Energy Services made $21.3M in Q3 2026 (+97% Y/Y): Rentals $9.6M, Sand $5.2M, Accommodations $3.4M. Operating margin -2.0%, net earnings $126K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $21.3M in Q3 2026, up 97% year over year and down 18% from the previous quarter. Rentals was the largest line at 45% of revenue. Rentals added $6.9M year over year (up 250%), 66% of the total change. Drilling declined 10%.
Operating costs exceeded revenue by $421K, an operating margin of -2.0%. Total costs grew 7% against revenue growth of 97%. The fastest-growing cost line was Other operating costs (+14%). Net earnings were $126K. The effective tax rate was 51.9%. Non-operating items added $683K, 261% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $91K (down 88% year over year), 72% of net earnings. Non-cash charges added back $5.6M of depreciation and amortization. Working capital and other items used $5.6M. Capital expenditures of $41.8M exceeded it, leaving free cash flow of −$41.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 30, 2026 | $21.3M | +97% | -2.0% | $126K | $91K |
| Q2 2026 | 10-Q | Aug 7, 2026 | $26.1M | +111% | 10.1% | −$760K | −$7.0M |
| Q1 2026 | 10-Q | May 11, 2026 | $22.0M | +89% | -3.9% | $5.2M | −$3.0M |
| Q3 2025 | 10-Q | Nov 3, 2025 | $14.8M | -13% | -63.6% | −$12.6M | $730K |
| Q2 2025 | 10-Q | Aug 8, 2025 | $16.4M | +2% | -226.3% | $8.8M | −$12.5M |
| Q1 2025 | 10-Q | May 7, 2025 | $62.5M | +45% | 0.8% | −$537K | $2.7M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Mammoth Energy Services
We are an integrated, growth-oriented services company focused on providing products and services to our customers primarily in the oil and natural gas, aviation and utility infrastructure industries. Our primary business objective is to drive returns through improved execution by prioritizing asset utilization, margin expansion, and capital efficiency across the portfolio. Our suite of services includes rental services, infrastructure services, natural sand proppant services, accommodation services and drilling services. Our rental services segment provides a wide range of equipment used in oilfield, construction and aviation activities. Our infrastructure services division provides engineering, design, construction, upgrade, maintenance and repair services to the fiber industry.
In its own words, from its 10-K, filed Mar 6, 2026.
Mammoth Energy Services against its Oil & Gas Field Services, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +97% against the peers' median +7%. Operating margin: -2.0% against the peers' median 1.6%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| TUSK Mammoth Energy Services | Q3 2026 | $21.3M | +97% | -2.0% |
| SLB SLB Limited | Q3 2026 | $9.4B | +6% | 10.8% |
| HAL Halliburton | Q3 2026 | $5.7B | +2% | 10.9% |
| LBRT Liberty Energy | Q3 2026 | $1.2B | +26% | 1.6% |
| OII Oceaneering International | Q3 2026 | $785M | +6% | 11.7% |
| NESR National Energy Services Reunited | Q2 2026 | $521M | +59% | 12.5% |
| ACDC ProFrac Holding | Q3 2026 | $511M | +27% | -6.7% |
| RES RPC | Q3 2026 | $468M | +5% | -11.5% |
| XPRO Expro | Q3 2026 | $440M | +7% | 1.1% |
Source: Mammoth Energy Services 10-Q on SEC EDGAR · CIK 1679268 · Oil & Gas Field Services, NEC
Guidance and outlook
13F: who owns TUSK and who is buying
More on TUSK
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q3 2025 results · Q2 2025 results · Q1 2025 results