earnings
confidence high
sentiment positive
materiality 0.65
Ranger Energy Q1 rev $123.6M, net loss $5.7M; raises FY22 revenue guidance to $540-580M
Ranger Energy Services, Inc.
2022-Q1 EPS reported
-$0.31
revenue$123,600,000
- High-Spec Rig revenue grew 9% to $64.9M; operating income rose $6.8M to $7.7M.
- Adjusted EBITDA of $9.6M, up $0.5M from Q4; Wireline segment loss widened to $1.8M.
- Q2 2022 revenue guidance $135-145M with EBITDA margins 10-12%; FY22 revenue guidance raised to $540-580M.
- Since Q1 end, reduced Term Loan B by $5M and revolver by $13M, total net debt reduction of $18M.
- Company expects term debt of $10-15M, no revolver draw, positive cash by early 2023.