Mammoth Energy Deploys $44M in Q2 Capex, Aviation Portfolio Tops $100M
TUSK sits 98% above its 52-week low of $1.715.
Summary
Mammoth Energy spent ~$44M in Q2 capex, with ~$41.2M directed at its aviation segment, pushing the total aviation portfolio past $100M deployed. The company added a Boeing 747 package leased to a blue-chip client, expanding its fleet to 38 aircraft (23 leased). This follows yesterday's Q2 earnings release that showed 110% revenue growth and a raised outlook. The capex details confirm aggressive fleet expansion is driving the turnaround, with the 747 lease signaling high-value contract wins. The two 8-Ks filed on Aug 7 formalize the earnings and a Reg FD notice, but the capex breakdown is new granularity.
At the time of this announcement, TUSK was trading at $3.40 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $163.3M. The 52-week trading range was $1.72 to $3.92. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.