TUSK stock data

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Calendar

31 Jul 20
25 Oct 20
31 Dec 20

News

Quarter (USD) Jun 20 Mar 20 Sep 19 Jun 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
4 Sep 20 Smith Arthur L Common Stock Buy Aquire P No 1.29 20,000 25.8K 129,685
17 Aug 20 Corey J. Booker Common Stock Grant Aquire A No 0 53,618 0 53,618
2 Jul 20 Smith Arthur L Common Stock Grant Aquire A No 0 86,957 0 109,685
2 Jul 20 Palm James D Common Stock Grant Aquire A No 0 86,957 0 117,175
64.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 47 60 -21.7%
Opened positions 13 9 +44.4%
Closed positions 26 19 +36.8%
Increased positions 11 11
Reduced positions 17 27 -37.0%
13F shares
Current Prev Q Change
Total value 51.74M 26.1M +98.3%
Total shares 29.6M 30.91M -4.3%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Wexford Capital 22.05M $26.01M 0.0%
Valueworks 3.63M $4.28M +15.3%
Bridgeway Capital Management 471.5K $556K +34.2%
Dimensional Fund Advisors 466.32K $550K -38.1%
Vanguard 408.76K $482K -15.0%
EAM Investors 295.11K $348K NEW
BLK BlackRock 294.33K $347K -66.2%
WINTON 292.07K $345K +191.9%
Two Sigma Advisers 283.5K $335K -8.3%
IVZ Invesco 232.99K $275K -11.5%
Largest transactions
Shares Bought/sold Change
Russell Investments 0 -662.77K EXIT
BLK BlackRock 294.33K -575.28K -66.2%
Valueworks 3.63M +482.65K +15.3%
EAM Investors 295.11K +295.11K NEW
Dimensional Fund Advisors 466.32K -286.84K -38.1%
STT State Street 0 -251.86K EXIT
WINTON 292.07K +192.02K +191.9%
Two Sigma Investments 26.9K -160.89K -85.7%
Bridgeway Capital Management 471.5K +120.1K +34.2%
NTRS Northern Trust 48.57K -112.6K -69.9%

Financial report summary

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Risks
  • Our customer base is concentrated and the loss of one or more of our significant customers, or their failure to pay the amounts they owe us, could cause our revenue to decline substantially.
  • Cobra, one of our infrastructure services subsidiaries, was party to service contracts with PREPA. PREPA is currently subject to bankruptcy proceedings, which were filed in July 2017 and are currently pending in the U.S. District Court for the District of Puerto Rico. As a result, PREPA's ability to meet its payment obligations under the contracts is largely dependent upon funding from the Federal Emergency Management Agency or other sources. In the event that PREPA (i) does not have or does not obtain the funds necessary to satisfy its payment obligations to our subsidiary under the contracts, (ii) obtains the necessary funds but refuses to pay the amounts owed to us or (iii) otherwise does not pay amounts owed to us for services performed, our financial condition, results of operations and cash flows would be materially and adversely affected.
  • The outcomes of investigations and litigation relating to our contracts with PREPA may have a material adverse effect on our business, financial condition, results of operations and cash flows.
  • Opportunities associated with government contracts could lead to increased governmental regulation applicable to us.
  • We provide our hydraulic fracturing completion services to a limited number of customers, and Gulfport, one of our customers, is seeking to terminate its agreement with us, which could adversely affect our operations.
  • We provide natural sand proppant to a limited number of customers, and the termination of one or more of these relationships could adversely affect our operations.
  • Our revolving credit facility imposes, and any of our future credit facilities may impose, restrictions on us that may affect our ability to successfully operate our business.
  • Our failure to receive payment for contract change orders or adequately recover on claims brought by us against customers related to payment terms and costs could materially and adversely affect our financial position, results of operations and cash flows.
  • Competition within the energy services industry may adversely affect our ability to market our services.
  • We may not accurately estimate the costs associated with infrastructure services provided under fixed price contracts, which could have an adverse effect on our financial condition, results of operations and cash flows.
  • We may be unable to obtain sufficient bonding capacity to support certain service offerings, and the need for performance and surety bonds could reduce availability under our credit facility.
  • The nature of our infrastructure services business exposes us to potential liability for warranty claims and faulty engineering, which may reduce our profitability.
  • The timing of new contracts and termination of existing contracts may result in unpredictable fluctuations in our cash flows and financial results.
  • Timing of revenue for our infrastructure services backlog can be subject to change as a result of our delays, customer delays, regulatory delays or other factors. These changes could cause estimated revenue to be realized in periods later than originally expected, or not at all. As a result, our backlog as of any particular date is an uncertain indicator of future revenue and earnings.
  • Delays and reductions in government appropriations can negatively impact energy infrastructure construction, maintenance and repair projects and may impair the ability of our energy infrastructure customers to timely pay for products or services provided or result in their insolvency or bankruptcy, any of which exposes us to credit risk of our infrastructure customers.
  • A portion of our business depends on the oil and natural gas industry and particularly on the level of exploration and production activity within the United States and Canada, and the ongoing volatility in prices for oil and natural gas has had, and continues to have, an adverse effect on our revenue, cash flows, profitability and growth.
  • The cyclicality of the oil and natural gas industry may cause our operating results to fluctuate.
  • If oil prices or natural gas prices decline, the demand for our oil and natural gas services could be adversely affected.
  • Deterioration of the commodity price environment can negatively impact oil and natural gas exploration and production companies and, in some cases, impair their ability to timely pay for products or services provided or result in their insolvency or bankruptcy, any of which exposes us to credit risk of our oil and natural gas exploration and production customers.
  • Shortages, delays in delivery and interruptions in supply of drill pipe, replacement parts, other equipment, supplies and materials may adversely affect our contract land and directional drilling business or our pressure pumping business.
  • Oilfield services equipment, refurbishment and new asset construction projects, as well as the reactivation of oilfield service assets that have been idle for six months or longer, are subject to risks which could cause delays or cost overruns and adversely affect our business, cash flows, results of operations and financial position.
  • Advancements in oilfield service technologies could have a material adverse effect on our business, financial condition, results of operations and cash flows.
  • Our business depends upon our ability to obtain specialized equipment and parts from third-party suppliers, and we may be vulnerable to delayed deliveries and future price increases.
  • An increase in the prices of certain materials used in our businesses could adversely affect our business, financial condition, results of operation and cash flows.
  • Inaccuracies in estimates of volumes and qualities of our sand reserves could result in lower than expected sales and higher than expected production costs.
  • As part of our natural sand proppant services business, we rely on third parties for raw materials and transportation, and the suspension or termination of our relationship with one or more of these third parties could adversely affect our business, financial conditions, results of operations and cash flows.
  • Future performance of our natural sand proppant services business will depend on our ability to succeed in competitive markets, and on our ability to appropriately react to potential fluctuations in the demand for and supply of frac sand.
  • Demand for our frac sand products could be reduced by changes in well stimulation processes and technologies, as well as changes in governmental regulations and other applicable law.
  • An increase in the supply of raw frac sand having similar characteristics as the raw frac sand we produce and sell could make it more difficult for us to market our sand on favorable terms or at all.
  • We face distribution and logistics challenges in our business.
  • Increasing transportation and related costs could have a material adverse effect on our business.
  • Diminished access to water and inability to secure or maintain necessary permits may adversely affect operations of our frac sand processing plants.
  • Similar to our natural sand proppant services, certain of our completion and production services, particularly our hydraulic fracturing services, are substantially dependent on the availability of water. Restrictions on our ability, or our customers’ ability, to obtain water may have an adverse effect on our business, financial condition, results of operations and cash flows.
  • The customized nature, and remote location, of the modular camps that we provide and service present unique challenges that could adversely affect our ability to successfully operate our remote accommodations business.
  • Health and food safety issues and food-borne illness concerns could adversely affect our remote accommodations business.
  • Development of permanent infrastructure in the Canadian oil sands region or other locations where we locate our remote accommodations could negatively impact our remote accommodations business.
  • Revenue generated and expenses incurred by our remote accommodation business are denominated in the Canadian dollar and could be negatively impacted by currency fluctuations.
  • Our business is difficult to evaluate because we have a limited operating history.
  • In the course of our business, we may become subject to lawsuits, indemnity or other claims, which could materially and adversely affect our business, results of operations and cash flows.
  • We rely on a few key employees whose absence or loss could adversely affect our business.
  • If we are unable to employ a sufficient number of skilled and qualified workers, our capacity and profitability could be diminished and our growth potential could be impaired.
  • Unionization efforts could increase our costs or limit our flexibility.
  • Our operations may be limited or disrupted in certain parts of the continental U.S. and Canada during severe weather conditions, which could have a material adverse effect on our financial condition and results of operations.
  • Concerns over general economic, business or industry conditions may have a material adverse effect on our results of operations, liquidity and financial condition.
  • A terrorist attack or armed conflict could harm our business.
  • Our operations require substantial capital and we may be unable to obtain needed capital or financing on satisfactory terms or at all, which could limit our ability to grow.
  • The growth of our business through acquisitions may expose us to various risks, including those relating to difficulties in identifying suitable, accretive acquisition opportunities and integrating businesses, assets and personnel, as well as difficulties in obtaining financing for targeted acquisitions and the potential for increased leverage or debt service requirements.
  • We may have difficulty managing growth in our business, which could adversely affect our financial condition and results of operations.
  • If our intended expansion of our business is not successful, our financial condition, profitability and results of operations could be adversely affected, and we may not achieve increases in revenue and profitability that we hope to realize.
  • Our liquidity needs could restrict our operations and make us more vulnerable to adverse economic conditions.
  • Our revolving credit facility provides, and any future credit facilities may provide, for fluctuating interest rates, which may increase or decrease our interest expense.
  • We may not be able to provide services that meet the specific needs of oil and natural gas exploration and production companies or utilities at competitive prices.
  • Our operations are subject to hazards inherent in the oil and natural gas and energy infrastructure industries, which could expose us to substantial liability and cause us to lose customers and substantial revenue.
  • We are subject to extensive environmental, health and safety laws and regulations that may subject us to substantial liability or require us to take actions that will adversely affect our results of operations.
  • Regulation of greenhouse gas emissions could result in increased operating costs and reduced demand for oil and natural gas.
  • Federal and state legislative and regulatory initiatives relating to hydraulic fracturing could result in increased costs and additional operating restrictions or delays.
  • Legislation or regulatory initiatives intended to address seismic activity could restrict certain of our customers’ drilling and production activities, as well as well as their ability to dispose of produced water gathered from such activities, which could have a material adverse effect on our business.
  • Our operations in our natural sand proppant services business are dependent on our rights and ability to mine our properties and on our having renewed or received the required permits and approvals from governmental authorities and other third parties.
  • Penalties, fines or sanctions that may be imposed by the U.S. Mine Safety and Health Administration could have a material adverse effect on our proppant production and sales business and our overall financial condition, results of operations and cash flows.
  • Increasing trucking regulations may increase our costs and negatively impact our results of operations.
  • Restrictions on drilling activities intended to protect certain species of wildlife may adversely affect our ability to conduct mining or drilling activities in some of the areas where we operate.
  • Conservation measures and technological advances could reduce demand for oil and natural gas and our services.
  • Changes in tax laws and regulations or adverse outcomes resulting from examination of our tax returns may adversely affect our business, results of operations, financial condition and cash flow.
  • Our operations are subject to a number of operational risks which may result in unexpected costs or liabilities.
  • Losses and liabilities from uninsured or underinsured activities could have a material adverse effect on our financial condition and operations.
  • We may be subject to claims for personal injury and property damage, which could materially adversely affect our financial condition and results of operations.
  • Loss of our information and computer systems could adversely affect our business.
  • We are subject to cyber security risks. A cyber incident could occur and result in information theft, data corruption, operational disruption and/or financial loss.
  • Our two largest stockholders control a significant percentage of our common stock, and their interests may conflict with those of our other stockholders.
  • A significant reduction by Wexford of its ownership interests in us could adversely affect us.
  • We have and will continue to incur increased costs and obligations as a result of being a public company.
  • We are subject to certain requirements of Section 404 of the Sarbanes-Oxley Act. If we are unable to continue comply with Section 404 or if the costs related to compliance are significant, our profitability, stock price, results of operations and financial condition could be materially adversely affected.
  • The corporate opportunity provisions in our certificate of incorporation could enable Wexford, Gulfport or other affiliates of ours to benefit from corporate opportunities that might otherwise be available to us.
  • We have engaged in transactions with our affiliates and expect to do so in the future. The terms of such transactions and the resolution of any conflicts that may arise may not always be in our or our common stockholders’ best interests.
  • Prior to the IPO, there was no public market for our common stock and if the price of our common stock fluctuates significantly, your investment could lose value.
  • Wexford and Gulfport beneficially own a substantial amount of our common stock and may sell such common stock in the public or private markets. Sales of these shares of common stock or sales of substantial amounts of our common stock by other stockholders, or the perception that such sales may occur, could adversely affect the prevailing market price of our common stock.
  • If securities or industry analysts do not publish research or reports about our business, if they adversely revise their recommendations regarding our stock or if our operating results do not meet their expectations, the price of our stock could decline.
  • We may issue preferred stock whose terms could adversely affect the voting power or value of our common stock.
  • Provisions in our certificate of incorporation and bylaws and Delaware law make it more difficult to effect a change in control of the company, which could adversely affect the price of our common stock.
  • Our certificate of incorporation designates courts in the State of Delaware as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or other employees.
  • The declaration of dividends on our common stock is within the discretion of our board of directors based upon a review of relevant considerations, and there is no guarantee that we will pay any dividends in the future or at levels anticipated by our stockholders.
Management Discussion
  • •Net loss of $15 million, or $0.33 per diluted share for the three months ended June 30, 2020.
  • •Adjusted EBITDA of $7 million for the three months ended June 30, 2020, with Adjusted EBITDA, excluding interest on trade accounts receivable, generated by our infrastructure services segment growing nearly 50% quarter over quarter for the last two consecutive quarters. See “Non-GAAP Financial Measures” below for a reconciliation of net loss to Adjusted EBITDA.
  • •Positive operating cash flow of $5 million for the three months ended June 30, 2020.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: aforementioned, answered, certification, curtail, curtailed, cybersecurity, delay, digital, exacerbated, foregoing, heightened, history, Jonathan, Notwithstanding, observed, pace, quarantine, ramp, ready, recurring, resignation, sector, shortage, travel, vulnerable, weak, widespread, worsen, Yellen
Removed: accuracy, backlog, begun, canceled, collectively, committed, maturity, methodology, notice, occasionally, realize, select, sublimit, uncompleted