secwatch.observer — SEC 8-K summary
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Issuer:     Ranger Energy Services, Inc. (RNGR)
CIK:        0001699039
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001699039-24-000066
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1699039/000169903924000066/0001699039-24-000066-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1699039/000169903924000066/rng-20240507.htm
  HTML page:      https://secwatch.observer/filing/0001699039-24-000066

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer