Ranger Energy Q1 2024 revenue $136.9M (-13% YoY), net loss $0.8M; declares $0.05 dividend

Ranger Energy Services, Inc.

2024-Q1 EPS reported -$0.03 revenue$136,900,000

Revenue $136.9M, down 13% YoY; net loss $0.8M vs $6.2M income; adj. EBITDA $10.9M, down 46%.
High-spec rig rev +3% to $79.7M; wireline rev -34% to $32.8M due to completions market pullback.
Quarterly dividend $0.05/share, payable May 31, record May 17.
Repurchased 846,900 shares for $8.5M in Q1; cumulative 2.65M shares for $27.6M since program start.
Identified $4M annualized cost savings; expects Q2 revenue and margin improvement.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Ranger Energy Services, Inc. reported first quarter ended March 31, 2024 results: revenue $136.9 million, net income $0.8 million loss, EPS negative $0.03 per fully diluted share.

Period: first quarter ended March 31, 2024
Revenue: $136.9 million
Net income: $0.8 million loss
EPS: negative $0.03 per fully diluted share
Result: reported results

Exact text from the filing

Ranger Energy Services, Inc. Announces Q1 2024 Results HOUSTON, TX--(May 7, 2024) - Ranger Energy Services, Inc. (NYSE: RNGR) (“Ranger” or the “Company”) announced today its results for the first quarter ended March 31, 2024 . First Quarter 2024 Highlights – Revenue of $136.9 million, a 13% decrease from $157.5 million in first quarter 2023 driven by declines in wireline completions and ancillary services – High specification rig revenue of $79.7 million, a 3% increase from $77.5 million in first quarter 2023 with additional growth anticipated in future quarters – Net loss of $0.8 million, or negative $0.03 per fully diluted share, a decrease from net income of $6.2 million, or $0.25 per share in first quarter of 2023

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Source: SEC EDGAR

accession 0001699039-24-000066

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