Welcome to our dedicated page for Ranger Energy Services news (Ticker: RNGR), a resource for investors and traders seeking the latest updates and insights on Ranger Energy Services stock.
Ranger Energy Services, Inc. (symbol: RNGR) is a key player in the United States' onshore energy sector, providing high-specification well service rigs, wireline completion services, and comprehensive processing solutions. Established to support exploration and production (E&P) companies, Ranger Energy Services operates through three primary segments: High Specification Rigs, Completion and Other Services, and Processing Solutions.
The High Specification Rigs segment offers a fleet of 139 well service rigs, along with complementary equipment and services that facilitate operations throughout the lifecycle of a well. This includes the rental of fluid pumps, power swivels, well control packages, hydraulic catwalks, frac tanks, pipe racks, and pipe handling tools. Such services are essential for maintaining and enhancing well productivity.
The Completion and Other Services segment is dedicated to wireline completion services, which are crucial for bringing wells into production. This segment also provides various ancillary services that complement rig operations, ensuring seamless production and maintenance of wells.
Ranger Energy's Processing Solutions segment delivers proprietary solutions that are integral to the oil and gas extraction process. The company’s holistic approach and diverse service offerings enable it to meet the evolving needs of its clients and maintain a competitive edge in the market.
Recent achievements for Ranger Energy Services include strategic partnerships and continuous enhancement of their service capabilities, which have solidified their reputation as a reliable service provider in the energy industry. Currently, the company is engaged in innovative projects aimed at optimizing well performance and extending the productive life of wells.
With a strong financial position and a commitment to operational excellence, Ranger Energy Services is well-positioned to capitalize on opportunities within the energy sector and deliver value to its shareholders. The company's focus on high-specification equipment and services underpins its strategic advantage in the competitive landscape.
Ranger Energy Services (NYSE: RNGR) reported Q3 2024 results with revenue of $153.0 million, up 11% from Q2 but down 7% year-over-year. Net income reached $8.7 million ($0.39 per share), showing an 85% increase from Q2. Adjusted EBITDA was $25.1 million, up 20% quarter-over-quarter. The company generated Free Cash Flow of $10.8 million and continued its shareholder returns with 155,200 shares repurchased during Q3. High Specification Rigs segment achieved record revenues, while Wireline Services showed improvement in margins despite lower completions activity.
Ranger Energy Services, Inc. (NYSE:RNGR) has announced its schedule for the third quarter 2024 earnings conference call. The company will release its financial and operating results before the market opens on Monday, October 28, 2024. Following this, management will host an earnings conference call at 10:00 a.m. Eastern time (9:00 a.m. Central time).
Interested parties can join the call by dialing 1-833-255-2829 for domestic calls or 1-412-902-6710 for international calls, requesting to join the Ranger Energy Services call. Alternatively, participants can access the call via the company's website at www.rangerenergy.com. A replay of the conference call will be available on the company's website after the event.
Ranger Energy Services (NYSE: RNGR) reported Q2 2024 results with revenue of $138.1 million, a slight increase from Q1 2024 but down from Q2 2023. Net income was $4.7 million ($0.21 per share), up from a Q1 2024 loss but down year-over-year. Adjusted EBITDA reached $21.0 million, a 93% improvement from Q1 2024. The company's High Specification Rig segment set a new revenue record of $82.7 million. Ranger repurchased 518,200 shares for $5.3 million in Q2, bringing total repurchases to 14% of outstanding shares. The company declared a $0.05 quarterly dividend and reported Free Cash Flow of $6.8 million for the quarter.
Ranger Energy Services, Inc. (NYSE:RNGR) has announced its schedule for releasing second quarter 2024 financial and operating results. The company will report its results after the market closes on Monday, July 29, 2024. Following this, management will host an earnings conference call on Tuesday, July 30, 2024, at 9:00 a.m. Eastern time (8:00 a.m. Central time).
Interested parties can join the call by dialing 1-833-255-2829 for domestic calls or 1-412-902-6710 for international calls. Alternatively, they can access the call via the company's website at www.rangerenergy.com. A replay of the conference call will be available on the company's website after the call concludes.
Ranger Energy Services, Inc. announced Q1 2024 results with revenue of $136.9 million, a 13% decrease from Q1 2023. Net loss of $0.8 million, adjusted EBITDA of $10.9 million, and free cash flow of $5.5 million. The company repurchased 846,900 shares for $8.5 million and declared a quarterly dividend of $0.05 per share. Despite challenges in completions market, the company remains optimistic about future opportunities.
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