Mammoth Energy Services: Drops on wider Q2 loss, lower revenue

Mammoth Energy Services

31/07/2020 16:10

** Integrated oilfield services provider's shares  TUSK.O 
fall 9.3% to $1.26  
    ** Co on Thursday after markets close posted a 67% slump in
Q2 revenue to $60.1 mln  urn:newsml:reuters.com:*:nASA00Z8W
    ** Its quarterly net loss widened to $15.2 mln, from a loss
of $10.9 mln a year earlier, as total selling, general and
administrative expense rose 45% 
    ** Co says while the oilfield portion of its service
offerings have experienced significant challenges, it continues
to maintain oilfield equipment and plans to ramp up service
lines once demand returns
    ** Stock down 43% YTD 

 (Reporting by Shradha Singh in Bengaluru)
 ((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2804, outside U.S. +91 80 6182 2630;))