Thanks for this idea but it reminds me of corsa coal. Even with loads of cash, a shitty company always stay shitty, they just burn more cash. No return for shareholders or special dividend proposed?
Not familiar with Corsa Coal, but yeah TUSK is not a great company but there are multiple paths to profit here if management does some smart things. Management mentioned potential to conduct strategic review so might have something come out by end of year.
Just some comments here, I have looked this myself a couple of months ago. ROIC negative and getting worse. Shareholders constantly diluting, but slightly, which is not so bad. Operating Margin negative. Volatility in P/E shows inconsistent earnings. Maybe there is some value here and maybe things will improve, but too many "maybes" here. I personally act when most of the possibilities are in my favour and I stay away of narratives. Great work though, keep it up!
Agreed, it's not a great business. Some intriguing optionality here though, and an easy activist playbook as I outlined on selling the oil services segment and focusing on infrastructure as core secular growth business unit.
Looks like TUSK received another $18M due from PREPA today:
https://ir.mammothenergy.com/news-events/press-releases/detail/128/cobra-acquisitions-llc-announces-receipt-of-18-4-million
Thanks for this idea but it reminds me of corsa coal. Even with loads of cash, a shitty company always stay shitty, they just burn more cash. No return for shareholders or special dividend proposed?
Not familiar with Corsa Coal, but yeah TUSK is not a great company but there are multiple paths to profit here if management does some smart things. Management mentioned potential to conduct strategic review so might have something come out by end of year.
Just some comments here, I have looked this myself a couple of months ago. ROIC negative and getting worse. Shareholders constantly diluting, but slightly, which is not so bad. Operating Margin negative. Volatility in P/E shows inconsistent earnings. Maybe there is some value here and maybe things will improve, but too many "maybes" here. I personally act when most of the possibilities are in my favour and I stay away of narratives. Great work though, keep it up!
Agreed, it's not a great business. Some intriguing optionality here though, and an easy activist playbook as I outlined on selling the oil services segment and focusing on infrastructure as core secular growth business unit.
How much does management own?
About 5% in total doing a quick search. Nothing notable
why don't you have a say with them
Ha I don’t own enough shares :)