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
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100