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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 strong financial growth for Q4 and FY2022. Q4 revenue reached $154.3 million, a 25% year-over-year increase, with a net income of $7.6 million ($0.30 per share). For the full year, revenue hit $608.5 million, up 108%, and net income was $15.1 million. Adjusted EBITDA skyrocketed to $79.5 million, a 521% increase year-over-year. The company anticipates FY2023 revenue between $685 million and $715 million, alongside improved EBITDA margins. Despite weather-related impacts in Q4, the firm continues to focus on debt reduction and strategic growth initiatives.
Ranger Energy Services, Inc. (NYSE:RNGR) will announce its fourth quarter and full year 2022 financial results on
Ranger Energy Services reported strong fiscal Q3 2022 results, with revenue of $177.0 million, up 15% quarter-over-quarter and over 100% year-over-year. The company achieved a positive net income of $13.6 million, a turnaround from a net loss in Q2. Adjusted EBITDA rose by 69% to $30.3 million, exceeding 17% margins. Notable growth was seen in all segments, particularly Wireline Services, which grew 165% in adjusted EBITDA. Net debt decreased by 19% to $57.5 million.
Management forecasts $615-$620 million in full-year revenue and aims for further growth through strategic acquisitions.
Ranger Energy Services, Inc. announced the appointment of Justin Whitley as General Counsel and Corporate Secretary, effective October 24, 2022. Stuart Bodden, CEO, expressed enthusiasm for Whitley's extensive experience in the oil and gas sector, emphasizing his operational partnership mentality. Whitley has nearly two decades of legal expertise, previously serving as Deputy General Counsel for Parker Wellbore. Ranger, a leading provider of mobile rig well services in the U.S. oil and gas industry, expects Whitley's legal insight to bolster its operations and strategic initiatives.
Ranger Energy Services, Inc. (NYSE:RNGR) will announce its third quarter 2022 financial results and host a conference call on October 28, 2022, at 10:00 a.m. ET. The company expects revenue between
Ranger Energy Services, Inc. (NYSE:RNGR) announced that CEO Stuart Bodden and CFO Melissa Cougle will present at the Barclays CEO Energy-Power Conference 2022 on September 6, 2022, at 4:10 p.m. Eastern time. The Company is a leading provider of high specification mobile rig well services and cased hole wireline services in the U.S. oil and gas industry, supporting operations throughout a well's lifecycle, including completion, production, maintenance, and abandonment.
Ranger Energy Services (RNGR) reported strong financial results for Q2 2022, with revenues reaching $153.6 million, a 24% increase from Q1. Compared to Q2 2021, revenue rose 207%. The net loss improved to $0.4 million, down from a $5.7 million loss in the prior quarter. Adjusted EBITDA surged 88% to $18.0 million, driven by rising activity levels across all segments. Additionally, net debt was reduced by $21.8 million, enhancing liquidity. Management anticipates 2022 revenues will exceed $580 million, reflecting operational improvements and market demand.
Ranger Energy Services, Inc. (NYSE:RNGR) will announce its second quarter 2022 financial and operating results on August 1, 2022, before market opens. Following the release, a conference call will be hosted at 10:30 a.m. Eastern time to discuss the results. Interested participants can join the call by dialing 1-833-255-2829 or visiting the company's website for more details. Ranger is a leading provider of mobile rig well services and wireline services in the U.S. oil and gas sector, facilitating various phases of well lifecycle operations.
Ranger Energy Services, Inc. (NYSE: RNGR) has appointed Melissa Cougle as the new Chief Financial Officer, effective June 15, 2022. She replaces Brandon Blossman, who steps down to pursue other opportunities. Cougle, with nearly two decades of finance leadership experience in the energy sector, previously held CFO roles at Frank's International and National Energy Services Reunited. CEO Stuart Bodden expressed confidence in Cougle's strategic insight, emphasizing the company's recent acquisitions aimed at driving growth and cash flow generation.
Ranger Energy Services (RNGR) reported Q1 2022 revenues of $123.6 million, up $0.5 million from Q4 2021, despite weather and supply chain delays. High-Spec Rig revenue grew 9% to $64.9 million, with operating income increasing significantly to $7.7 million. However, the company posted a net loss of $5.7 million, contrasting with a net income of $24.4 million in Q4 due to prior acquisition gains. Adjusted EBITDA rose to $9.6 million. Ranger anticipates Q2 revenues of $135-$145 million and is targeting 15% EBITDA margins by year-end.
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