Why Mammoth Energy Shares Are Falling Today
Portfolio Pulse from Nabaparna Bhattacharya
Mammoth Energy Services, Inc. (NASDAQ:TUSK) shares are trading lower after missing Q2 earnings estimates. The company reported Q2 revenues of $75.43 million, a 16% Y/Y decrease, and an EPS loss of $(0.09), both missing consensus estimates. The company also announced a stock repurchase program, subject to repayment and refinancing of its credit facility. TUSK shares are trading lower by 22.9% to $4.24.
August 11, 2023 | 2:59 pm
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Mammoth Energy Services' shares are trading lower after missing Q2 earnings estimates and announcing a stock repurchase program.
Mammoth Energy Services missed Q2 earnings estimates, which is a negative signal to investors and can lead to a decrease in the stock price. The announcement of a stock repurchase program can be seen as a positive signal, as it indicates that the company believes its stock is undervalued. However, the overall impact is negative due to the missed earnings estimates.
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