Brief: Mammoth Energy Services Quarterly Loss Per Share $1.85

Mammoth Energy Services

11/05/2020 14:15

May 11 (Reuters) - Mammoth Energy Services Inc  TUSK.O :
    * QUARTERLY LOSS PER SHARE $1.85
    * QUARTERLY ADJUSTED LOSS PER SHARE $0.36
    * QUARTERLY REVENUE $97.4 MILLION VERSUS $262.1 MILLION
    * "OUR OILFIELD BUSINESS REMAINS UNDER FUNDAMENTAL PRESSURE
FROM
VOLATILITY IN OIL PRICES"
    * MAMMOTH ENERGY - WORKING WITH NEW INFRASTRUCTURE
MANAGEMENT
TEAM, AND ARE CUTTING COSTS, STREAMLINING OPERATIONS AND
IMPROVING OPERATING MARGINS
    * MAMMOTH ENERGY - TEMPORARILY IDLED SEVERAL OF OUR OILFIELD
SERVICES BUSINESSES, EXPECT LOWER PRICING AND UTILIZATION IN
THOSE THAT REMAIN IN OPERATION
    * MAMMOTH ENERGY - RECOGNIZED GOODWILL IMPAIRMENT OF $55.0
MILLION
IN Q1, PRIMARILY RELATED TO PRESSURE PUMPING SERVICES DIVISION

Source text: (https://bit.ly/3cp2TnU)
Further company coverage:  TUSK.O 

 ((Reuters.Briefs@thomsonreuters.com;))