NYSE$RNGR
Ranger Energy Services Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Ranger Energy Services reported an increase in revenue and net income compared to the previous quarter, driven by strong performance in high-specification rigs and ancillary services.
Ranger Energy Services announced its Q3 2024 results, featuring revenue of $153.0 million, a net income of $8.7 million, and adjusted EBITDA of $25.1 million. The company also highlighted its commitment to returning cash to shareholders, having repurchased 155,200 shares during the quarter.
- Revenue increased by 11% compared to the second quarter of 2024, reaching $153.0 million.
- Net income rose by 85% from the previous quarter to $8.7 million, or $0.39 per fully diluted share.
- Adjusted EBITDA increased by 20% compared to the second quarter of 2024, reaching $25.1 million.
- The company repurchased 155,200 shares during the quarter, demonstrating its commitment to returning cash to shareholders.
Headline financials
Revenue & EPS history
Ranger Energy Services · Revenue · Quarterly
$153M
Revenue by segment
Ranger Energy Services · $164M total across 3 segments · Q3 2023
- High Specification Rigs$79.2M-0.6%48.2%
- Wireline Services$53.2M-12.2%32.4%
- Processing Solutions$32M-12.8%19.5%
Forward guidance
Looking ahead to the fourth quarter, Ranger anticipates typical seasonality and holiday impacts, but early indications for 2025 are positive. The company expects year-over-year growth in High Specification Rigs, continued stabilization in Wireline, and further contributions from Ancillary Services.
Tailwinds
- Anticipate year-over-year growth in High Specification Rigs.
- Expect continued stabilization in Wireline as the pivot to production services matures.
- Anticipate further contributions from Ancillary Services.
- Ability to continue executing at a high level in a challenging environment.
- Maintain zero net debt.
Headwinds
- Typical seasonality impacts are expected to occur in the fourth quarter.
- Holiday impacts are expected to occur in the fourth quarter.
- Challenging environment.
- Reduced activity in the wireline completions service line.
- Heavy capital expenditures during 2024.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-1.0%
Avg return
Earnings day
-0.9%
Avg return
5 days after
+1.1%
Avg return
30 days after
39%
14 / 36 earnings
Positive
+15.4%
Q3 2020
Best reaction
-20.1%
Q3 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -6.4% | -6.9% | -17.6% | |
| Q4 2025 | -2.9% | -4.4% | -3.7% | |
| Q3 2025 | -0.7% | +0.1% | +3.9% | |
| Q2 2025 | -1.4% | +0.3% | +7.1% | |
| Q1 2025 | -12.1% | -5.8% | -15.6% | |
| Q4 2024 | -2.1% | -9.7% | -18.2% | |
| Q3 2024 | +3.3% | +6.7% | +33.8% | |
| Q2 2024 | +12.0% | +4.9% | +8.9% | |
| Q1 2024 | +1.6% | +0.4% | +0.4% | |
| Q4 2023 | +4.9% | +4.4% | +8.9% | |
| Q3 2023 | -11.4% | -12.6% | -26.4% | |
| Q2 2023 | +6.6% | +19.5% | +17.0% | |
| Q1 2023 | -2.8% | -1.3% | -1.6% | |
| Q4 2022 | +2.6% | +2.2% | -2.9% | |
| Q3 2022 | +3.7% | +5.2% | +10.8% | |
| Q2 2022 | -3.0% | -3.5% | +7.6% | |
| Q1 2022 | +6.3% | -1.8% | +14.1% | |
| Q4 2021 | +9.6% | +7.4% | -5.8% | |
| Q3 2021 | -0.8% | +0.6% | -2.2% | |
| Q2 2021 | -3.1% | -9.7% | -10.7% | |
| Q1 2021 | +3.1% | +7.8% | +35.0% | |
| Q4 2020 | +3.0% | +7.1% | +3.9% | |
| Q3 2020 | +15.4% | +6.1% | +29.6% | |
| Q2 2020 | -10.7% | -11.0% | -7.1% | |
| Q1 2020 | -1.3% | -6.9% | -7.3% | |
| Q4 2019 | -1.6% | -2.0% | -44.5% | |
| Q3 2019 | -5.7% | +0.0% | +33.4% | |
| Q2 2019 | -14.6% | -11.2% | -10.0% | |
| Q1 2019 | +7.5% | +4.2% | -14.4% | |
| Q4 2018 | -2.2% | +0.8% | +34.0% | |
| Q3 2018 | -0.3% | +11.3% | +15.5% | |
| Q2 2018 | -6.8% | -3.8% | -10.3% | |
| Q1 2018 | -2.8% | -2.3% | +2.5% | |
| Q4 2017 | -4.0% | -8.3% | -20.7% | |
| Q3 2017 | -20.1% | -21.4% | -12.2% | |
| Q2 2017 | +2.6% | +2.3% | +3.5% | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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