RNGR

Ranger Energy (RNGR) came out with quarterly earnings of $0.29 per share, missing the Zacks Consensus Estimate of $0.3 per share. This compares to earnings of $0.32 per share a year ago. A quarter ago, it was expected that this company would post earnings of $0.36 per share when it actually produced earnings of $0.12. Over the last four quarters, the company has not been able to surpass consensus EPS estimates. Ranger Energy, which belongs to the Zacks Oil and Gas - Field Services industry, posted revenues of $176.5 million for the quarter ended June 2026, beating the Zacks Consensus Estimate of $164.4 million. This compares to year-ago revenues of $140.6 million. The company beat consensus revenue estimates once in the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Ranger Energy shares have added about 12.4% since the beginning of the year versus the S&P 500's gain of 8.3%. While Ranger Energy has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Ranger Energy was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.36 on $170 million in revenues for the coming quarter and $1.13 on $655 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Field Services is currently in the bottom 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. RPC (RES), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on July 30. This oil and gas services company is expected to post quarterly earnings of $0.04 per share in its upcoming report, which represents a year-over-year change of -50%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. RPC's revenues are expected to be $464 million, up 10.3% from the year-ago quarter. (We are reissuing this article to correct a mistake. The original article, issued on July 27, 2026, should no longer be relied upon.) Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report RPC, Inc. (RES) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Ranger Energy Services, Inc.? Here are five stocks we like better. Ranger Energy Services delivered strong second-quarter growth: Revenue rose 25.5% year over year to $176.5 million, while adjusted EBITDA increased 23% sequentially to $28.6 million. Management said the company exceeded a $100 million annualized EBITDA run rate and expects 2026 adjusted EBITDA to surpass that level. Performance was mixed across segments: Ancillary Services and Wireline Services posted substantial revenue gains, but Wireline is expected to weaken after several high-performing contracts ended. High-Spec Rig margins were pressured by a tax audit and ECHO deployment costs, though management expects improvement in the third quarter. ECHO hybrid-rig expansion remains a major growth initiative: Two rigs are expected to enter service by the end of the third quarter, and Chevron has committed to three additional rigs. Ranger has 20 ECHO rigs under contract, with deployment planned at roughly one rig per month, while full-year capital expenditures are projected at about $50 million. Ranger Energy Services (NYSE:RNGR) reported higher second-quarter revenue and adjusted EBITDA as activity strengthened across its production-focused service lines and the company continued integrating American Well Services, or AWS. Revenue for the quarter ended June 30 totaled $176.5 million, up 10.9% from $159.1 million in the first quarter and 25.5% from $140.6 million a year earlier. Net income was $6.9 million, or $0.29 per diluted share, compared with $3 million, or $0.12 per diluted share, in the prior quarter and $7.3 million, or $0.32 per diluted share, in the second quarter of 2025. → Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit Adjusted EBITDA increased 23% sequentially to $28.6 million, producing a 16.2% margin, compared with $23.3 million and a 14.6% margin in the first quarter. CEO Stuart Bodden said the company had exceeded an annualized adjusted EBITDA run rate of $100 million, a target Ranger had outlined following the AWS acquisition. “We continue to believe adjusted EBITDA for 2026 will exceed $100 million,” Bodden said, adding that Ranger expects third-quarter results to be similarly strong before potential fourth-quarter softness from holiday and weather effects. → This Tiny AI Supplier Could Be More Important Than the Chipmakers Ranger’s High-Spec Rig segment generated $113.4 million in revenue, up 3.9% sequentially and 31.4% year over year. The segment recorded 146,800 rig hours, modestly above the first quarter and 25% higher than a year earlier, benefiting from the expanded fleet. Average hourly rig rates were $772, up from $731 in the first quarter, primarily reflecting fuel surcharges passed through to customers. High-Spec Rig adjusted EBITDA was $20.6 million, down from $21.4 million in the first quarter, with margins just under 19%. CFO Melissa Cougle said margins were affected by an unusual state sales-tax audit that Ranger is challenging, as well as make-ready costs for the upcoming deployment of its ECHO hybrid electric workover rigs. → 2 Stocks Built to Thrive If Inflation Refuses to Fade Bodden said the company forecasts slight third-quarter revenue growth in High-Spec Rigs and expects margins to improve toward 20%. He said customer activity has included more smaller programs that have helped fill available capacity, although he does not believe market conditions have changed enough to meaningfully add industry capacity. Ancillary Services revenue reached $44.5 million, increasing 13% from the first quarter and 38% from the year-earlier period. Adjusted EBITDA was $10 million, for a 22.5% margin. Ranger cited growth of 20% or more in its coiled tubing, plugging and abandonment, and Torrent service lines. Wireline Services delivered revenue of $18.6 million, up 75% from $10.6 million in the first quarter, and generated $3.6 million in adjusted EBITDA with a 19% margin. The segment completed 2,560 stages during the quarter, aided by an efficiently executed completions contract. Cougle said the pump-down service line posted record results, while the conventional production-focused line expanded revenue and tripled margins from the prior quarter. Management cautioned that the contracts supporting Wireline’s outperformance have concluded. Ranger expects softer revenue and reduced EBITDA margins in the second half, potentially returning to single-digit levels. Ranger said construction of its ECHO next-generation hybrid electric workover fleet remains on schedule. Two rigs are currently undergoing field testing and are expected to be operational by the end of the third quarter under an earlier contract award. The company also recently announced that Chevron committed to three additional ECHO rigs. During the question-and-answer session, Bodden said Ranger has 20 ECHO rigs under contract and would not be surprised to see additional contracts over the next nine to 12 months. He said the company expects approximately one rig per month to be deployed, with the 15 rigs announced earlier in 2026 expected to be deployed by the end of 2027. Bodden said the company is becoming increasingly confident that many ECHO rigs will add to its overall fleet, though it expects some “modest shuffling” of conventional equipment. He said customers are still evaluating the appropriate mix of electric or hybrid and conventional rigs, with wider adoption likely depending on demonstrated safety and efficiency gains over time. Cougle said the accounting treatment of upfront ECHO payments is expected to have a muted effect on reported results initially. Ranger plans to adjust amortization of upfront payments out of EBITDA, while any premium day rates under contracts could provide margin uplift. The company said it will provide additional updates if ECHO’s effect becomes material to margins. Free cash flow totaled $20 million in the second quarter, supported by $26.4 million in cash provided by operating activities. Year-to-date free cash flow was neutral because of working-capital investment earlier in the year and spending on the ECHO fleet. Capital expenditures totaled $24.7 million year to date, including $12.7 million related to ECHO rigs. Ranger expects approximately $50 million in capital expenditures for the full year, including roughly $23 million in ECHO-related payments that depend on deliveries through year-end. Ranger used more than $4.5 million during the quarter to repurchase 282,900 shares. Since mid-2023, the company has repurchased 4.6 million shares for a total of $52.1 million, while continuing its standard quarterly dividend, according to Bodden. At June 30, Ranger had total liquidity of $61.3 million, including $57.1 million of available revolver capacity and $4.2 million of cash. Cougle said receivables and contract assets remained elevated because of billing delays in June, but the company expects collection efforts, billing-process automation and potential working-capital releases in the second half to support debt reduction and strategic opportunities. Ranger Energy Services, Inc, based in The Woodlands, Texas, is a North American land drilling contractor serving exploration and production companies in the oil and natural gas industry. The company provides contract drilling, well servicing, pressure pumping and completion support services designed to enhance operational efficiency and optimize well performance. Through its diversified fleet of drilling and service rigs and ancillary equipment, Ranger offers turnkey solutions across all phases of the drilling lifecycle—from pad construction and drilling to completion and workover operations. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Ranger Energy Services Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Achieved a key strategic milestone by surpassing a $100 million annualized adjusted EBITDA run rate, validating the earnings power anticipated following the American Well Services (AWS) acquisition. Performance was bolstered by a 10.9% sequential revenue increase, driven by seasonal strength in workover and maintenance activity and improved market sentiment throughout the quarter. The High Spec Rig segment benefited from increased rig hours and modest rate uplifts achieved through fuel surcharges passed to customers to offset rising costs. Wireline performance was exceptionally strong due to the execution of specific completion contracts, though management notes these contracts have concluded, leading to expected normalization in the back half of the year. Strategic focus remains on the integration of AWS to capture synergies, including standardized billing protocols and cross-selling opportunities across the combined footprint. The company continues to differentiate its service offering through the rollout of the Echo hybrid-electric rig fleet, which management views as a competitive advantage in safety and efficiency. Management expects Q3 performance to remain similarly strong to Q2, followed by typical seasonal softening in Q4 due to holiday schedules and weather impacts. The Echo fleet rollout remains on schedule with a target deployment rate of approximately one rig per month, aiming for 17 rigs in the field by the end of 2027. Wireline margins are expected to face pressure in the second half of the year, potentially returning to single digits as high-margin completion contracts conclude. Capital expenditures for 2026 are projected at approximately $50 million, with $23 million dedicated to Echo rig payments depending on delivery timelines. Working capital releases are anticipated in the latter half of the year to support debt reduction and strategic capital allocation opportunities. High Spec Rig margins were slightly impacted by an unusual state sales tax audit currently under challenge and make-ready costs for upcoming Echo rig deployments. Receivables and contract assets remained elevated at quarter-end due to billing delays in June, prompting initiatives for further billing automation to reduce DSO. Management highlighted a shift in capital allocation strategy, having repurchased 4.6 million shares since mid-2023 to create shareholder value alongside strategic acquisitions. The company maintains a low federal cash tax position by utilizing historical net operating losses, which are expected to persist in the near to mid-term. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management shares the view that activity may increase toward 2027 as the forward curve strengthens, though current demand is primarily driven by smaller programs filling utilization gaps. While utilization is improving, management has not yet seen enough fundamental market change to justify meaningfully adding new capacity beyond the Echo fleet. The financial impact of Echo rigs will be largely muted in the near term as management plans to adjust out the non-cash amortization of upfront payments. Potential margin uplift is expected to come from premium day rates on contracts, which will be quantified for investors once they reach a material threshold of approximately 50 basis points. Large operators are currently evaluating whether to move to a complete electric base load, while smaller independents are 'kicking the tires' but waiting for a longer track record of safety and efficiency gains. Ranger currently has 23 Echo rigs under contract. and anticipates additional orders over the next 9 to 12 months as field results mature.

This article first appeared on GuruFocus. Release Date: July 28, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Ranger Energy Services Inc (NYSE:RNGR) reported a significant sequential revenue increase of 10.9%, reaching $176.5 million. The company achieved an adjusted EBITDA of $28.6 million, representing a 16.2% margin, which is an improvement of 160 basis points quarter-over-quarter. The integration of AWS has been successful, contributing to the company's strong performance and surpassing the $100 million annualized adjusted EBITDA run rate. The high-spec rig segment saw a 4% revenue increase, supported by increased rig hours and a modest rate uplift. Ranger's wireline segment delivered exceptional performance, with revenue up 75% from the previous quarter, driven by new contracts and improved profitability. The wireline segment is expected to experience reduced EBITDA margins and a softer top-line in the second half of the year as recent contract awards conclude. There was a slight softness in margins for the high-spec rig segment due to an unusual state sales tax audit and make-ready costs for upcoming Echo deployments. Receivables and contract assets remained elevated at the end of the quarter due to billing delays experienced in June. The company anticipates potential softening in Q4 due to holiday and weather impacts, which could affect overall performance. Some service lines acquired from AWS showed inconsistent performance, and the company is focused on finding better opportunities to nurture and grow these businesses. Warning! GuruFocus has detected 4 Warning Signs with RNGR. Is RNGR fairly valued? Test your thesis with our free DCF calculator. Q: With the anticipation of higher oil prices, how is Ranger Energy Services adapting to increased activity and 24-hour work schedules? A: Stuart Bowden, CEO: We share the view that oil prices will strengthen, leading to increased activity. Currently, we're seeing smaller programs filling up white space, which helps with utilization. However, we haven't seen enough change to add capacity significantly, but we're closely monitoring as we move into budgeting season. Q: Can you provide an update on the ECHO rig program and the expected run rate for rig deployment? A: Stuart Bowden, CEO: We have two rigs in the field, with two more expected by the end of Q3. We anticipate deploying 15 rigs by the end of next year, maintaining a run rate of about one rig per month. Additionally, we have a contract for three more rigs, totaling 20 under contract. Q: How do the prepayments for ECHO rigs affect margins, and what should we expect as more rigs are deployed? A: Melissa Kugel, CFO: The impact on margins will be largely unnoticeable. We will adjust back the amortization of upfront payments, which will lift revenue but not EBITDA. As premium day rates come into play, there could be margin uplift, but currently, the effect is muted. Q: What are Ranger's plans for expanding service lines through acquisitions, and what are you seeing in the M&A landscape? A: Stuart Bowden, CEO: We're pleased with the performance of service lines like COIL, P&A, and Torrent. Some AWS-acquired service lines are mixed, and we're focused on consistency. In terms of M&A, we're exploring opportunities aligned with our current service lines. Q: What is the long-term outlook for the Torrent business, and what are the current drivers of its performance? A: Stuart Bowden, CEO: Torrent had a strong quarter, driven by infield gas processing. We're seeing increased demand and are focused on achieving sustained full utilization. Our current focus is on deploying existing equipment effectively. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Ranger Energy (RNGR) came out with quarterly earnings of $0.12 per share, missing the Zacks Consensus Estimate of $0.3 per share. This compares to earnings of $0.32 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -60.00%. A quarter ago, it was expected that this company would post earnings of $0.36 per share when it actually produced earnings of $0.12, delivering a surprise of -66.67%. Over the last four quarters, the company has not been able to surpass consensus EPS estimates. Ranger Energy, which belongs to the Zacks Oil and Gas - Field Services industry, posted revenues of $159.1 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 3.19%. This compares to year-ago revenues of $140.6 million. The company has not been able to beat consensus revenue estimates over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Ranger Energy shares have added about 12.4% since the beginning of the year versus the S&P 500's gain of 8.3%. While Ranger Energy has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Ranger Energy was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.36 on $170 million in revenues for the coming quarter and $1.13 on $655 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Field Services is currently in the bottom 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. RPC (RES), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on July 30. This oil and gas services company is expected to post quarterly earnings of $0.04 per share in its upcoming report, which represents a year-over-year change of -50%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. RPC's revenues are expected to be $464 million, up 10.3% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ranger Energy Services, Inc. (RNGR) : Free Stock Analysis Report RPC, Inc. (RES) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

HOUSTON, July 27, 2026--(BUSINESS WIRE)--Ranger Energy Services, Inc. (NYSE: RNGR) ("Ranger" or the "Company") today reported its financial and operational results for the second quarter ended June 30, 2026. Second Quarter 2026 Financial and Operational Highlights Revenue of $176.5 million, compared to $159.1 million in the first quarter of 2026 and $140.6 million in the second quarter of 2025 Net income of $6.9 million, or $0.29 per diluted share, compared to $3.0 million, or $0.12 per diluted share, in the first quarter of 2026 and $7.3 million, or $0.32 per diluted share, in the second quarter of 2025 Adjusted EBITDA(1) of $28.6 million, representing an Adjusted EBITDA margin of 16.2%, compared to $23.3 million and 14.6% in the first quarter of 2026 and $20.6 million and 14.7% in the second quarter of 2025 Significant share repurchases during the quarter of 282,900 shares at an average repurchase price of $15.84 per share, supported by Free Cash Flow(2) for the quarter of $20.0 million Management Commentary Stuart Bodden, Ranger’s Chief Executive Officer, commented, "During the second quarter, Ranger built on the momentum from our first quarter results and delivered another quarter of sequential topline growth across segments, EBITDA and margin expansion with meaningful cash flows. The breadth of improvement reflects the continued strong execution across our operations teams while the AWS business approaches full integration into the organization and our legacy business continues to benefit from steadily improving customer activity and longer summer days. Overall, quarter over quarter, our topline expanded over 10% with EBITDA growing by more than 22%. We have previously stated that Ranger would generate more than $100 million in EBITDA annually going forward and it was gratifying to have achieved that run rate milestone in the second full quarter post-acquisition. "Our High Specification Rigs segment generated over $20 million of EBITDA in the quarter, growing revenues modestly quarter over quarter. Segment margins were slightly affected from impacts of a state sales tax audit in the quarter as well as some make ready costs for our upcoming ECHO deployments. This segment is seeing slightly increasing activity levels from customers in response to commodity price strength, albeit with fluctuations. That said, our customers remain highly disciplined and most activity increases are translating into improved utilization for existing rigs rather than commitments for incremental rigs. Recently, we also announced an award for three additional ECHO rigs to be built with Chevron, one of our core customers, and we are excited about the continued build out of our next generation fleet with differentiated technology. We see interest out there for additional ECHO rig deployments and foresee incremental announcements in future quarters as market adoption develops. "The expanded Ancillary segment once again outperformed as new service lines from the AWS acquisition continued to gain traction and contribute to profitability. Our Plug and Abandonment service line saw strong expansion of activity with recent contract awards while Torrent and Coil Tubing service lines also outperformed expectations. Most Ancillary service lines experienced activity expansion in the quarter with improved profitability, and we are evaluating which lines could benefit from additional investment in the future. "Specific to the Wireline segment, we are proud of our operations team and the recovery they have facilitated in that segment over the past few quarters. This quarter was a breakout financially benefitting from stronger activity levels across service lines and a multi-well contract award resulting in a strong Adjusted EBITDA contribution. The team is beginning to demonstrate the ability to respond to oscillating activity levels more successfully, and we are more encouraged when we look at this segment over the longer term. That said, some contract activity has been completed for the year and we expect that the back half of 2026 will see reductions in activity and more modest profitability as a consequence. "As we look to the second half of 2026, we are increasingly optimistic about the long term prospects for the Ranger business. Our opportunity set remains strong with multiple paths of growth in front of us to invest in high-return opportunities, including the continued build-out of our ECHO Hybrid Electric Rig fleet, expanding our already strong presence in well services and potentially stepping out with new service lines through advantageous acquisitions that position us well in the future. The Ranger team remains committed to investing with a disciplined capital allocation mindset and will continue to return capital to shareholders, just as we did this past quarter, while maintaining unparalleled financial strength. Our view remains unchanged, namely that Ranger is well positioned to capitalize on the continued demand for US energy resources, enabling us to generate durable, long-term value for our shareholders." CAPITAL RETURNS UPDATE During the second quarter of 2026, the Company repurchased 282,900 shares of stock for a total value of $4.5 million, net of tax, at an average price of $15.84 per share. Since the inception of the share repurchase program in 2023 through the end of the second quarter of 2026, the Company has repurchased a total of 4,641,800 shares, for a total value of $52.1 million, net of tax at an average repurchase price of $11.17 per share. Additionally, today the Ranger Board of Directors declared this quarter’s cash dividend of $0.06 per share payable on August 21, 2026, to common stockholders of record at the close of business on August 7, 2026, reinforcing our commitment to a consistent return of capital each and every quarter. PERFORMANCE SUMMARY Second quarter 2026 revenue was $176.5 million, an increase of $17.4 million from the first quarter of 2026 and an increase of $35.9 million compared to the second quarter of 2025. The sequential increase primarily reflects expanding activity levels, while the year over year increase primarily reflects the contribution of the AWS business. Cost of services was $142.7 million, or 81% of revenue, in the second quarter of 2026, compared to $115.0 million, or 82% of revenue, in the prior year period, and $130.6 million in the first quarter of 2026, also reflecting the consolidation of AWS in the more recent periods. General and administrative expenses were $7.6 million in the second quarter of 2026, compared to $7.8 million in the first quarter of 2026 and $7.0 million in the second quarter of 2025. Both the first and second quarter of 2026 included additional expenses related to the acquisition of AWS. Net income for the second quarter of 2026 was $6.9 million, compared to $3.0 million in the first quarter of 2026 and $7.3 million in the second quarter of 2025. Fully diluted earnings per share was $0.29 for the second quarter of 2026, compared to $0.12 in the prior quarter and $0.32 in the prior year period. Second quarter 2026 Adjusted EBITDA(1) was $28.6 million, an increase of $5.3 million from $23.3 million in the first quarter of 2026, and an increase of $8.0 million from $20.6 million in the second quarter of 2025. The improvement relative to both comparison periods was driven by stronger revenue and margins in the High Specification Rigs and Processing Solutions and Ancillary Services segments with inclusion of operating results from AWS as well as a profitable quarter in the Wireline segment. BUSINESS SEGMENT FINANCIAL RESULTS High Specification Rigs High Specification Rigs segment revenue was $113.4 million in the second quarter of 2026, an increase of $4.3 million from $109.1 million in the first quarter of 2026 and an increase of $27.1 million from $86.3 million in the prior year period. Rig hours increased 1% sequentially to 146,800 from 145,400, and increased 25% year over year from 117,000. Hourly rig rates increased modestly, rising 6% sequentially to $772 per hour from $731, and 5% year over year from $738, largely reflecting the pass through of fuel surcharges as well as certain changes in asset and regional revenue mix. Segment operating income was $11.2 million in the second quarter of 2026, an increase of $0.8 million, or 8%, from $10.4 million in the prior quarter, and a decrease of $0.8 million, or 7%, from $12.0 million in the prior year period. Adjusted EBITDA(1) was $20.6 million, down from $21.4 million in the first quarter of 2026 and up from $17.6 million in the second quarter of 2025. The quarter was negatively affected by a unique $750,000 audit levy assessed by a state taxing authority related to prior years that is currently under dispute. Processing Solutions and Ancillary Services Processing Solutions and Ancillary Services segment revenue was $44.5 million in the second quarter of 2026, an increase of $5.1 million, or 13%, from $39.4 million in the first quarter of 2026, and an increase of $12.3 million, or 38%, from $32.2 million in the prior year period. The improvement relative to both comparison periods was primarily attributable to higher operating activity across several service lines, with the most significant contribution coming from ancillary solutions acquired in the AWS transaction. Segment operating income was $6.3 million in the second quarter of 2026, an improvement from $4.2 million in the first quarter of 2026 and from $4.5 million in the prior year period. Adjusted EBITDA(1) was $10.0 million, an increase from $7.7 million in the first quarter of 2026 and an increase from $6.6 million in the second quarter of 2025. Wireline Services Wireline Services segment revenue was $18.6 million in the second quarter of 2026, an increase of $8.0 million, or 75%, from $10.6 million in the first quarter of 2026, and a decrease of $3.5 million, or 16%, from $22.1 million in the prior year period. Wireline Completions reported 2,560 completed stages in the second quarter of 2026, an increase of 246% from 740 in the first quarter of 2026 and an increase of 2% from 2,500 stages in the second quarter of 2025. The sequential increase in revenue and completed stages reflects new contract activity completed during the quarter, while the year over year decrease in revenue reflects changes in customer and job mix to drive towards more profitability. Contribution from Pump Down and Conventional Production lines during the quarter significantly improved from the prior quarter as warmer months and longer days arrived supported by improved sales and bidding processes instituted earlier in the year. Segment operating income was $1.0 million in the second quarter of 2026, an improvement of $3.4 million from an operating loss of $2.4 million in the first quarter of 2026, and improved from an operating loss of $1.2 million in the prior year period. Adjusted EBITDA(1) was $3.6 million, an increase from $0.2 million in the first quarter of 2026 and an increase from $1.6 million in the second quarter of 2025. The improved operating income and Adjusted EBITDA reflect higher activity across service lines and strong operating leverage with improved efficiency. BALANCE SHEET, CASH FLOW AND LIQUIDITY As of June 30, 2026, the Company had total liquidity of $61.3 million, consisting of $57.1 million of available capacity under its revolving credit facility and $4.2 million of cash on hand. This compares to total liquidity of $67.7 million as of December 31, 2025, consisting of $57.4 million of revolving credit facility capacity and $10.3 million of cash. The reduction in liquidity reflects a buildup of working capital through the early part of the year from certain customers. Cash provided by Operating Activities was $26.4 million for the quarter and $23.0 million year to date in 2026. Free Cash Flow for the quarter was $20.0 million while for the 2026 year to date period it is negative $1.7 million, a decrease from $17.8 million in the prior year period. This decrease has been driven by a growing accounts receivable and contract assets balance resulting from continued customer payment delays and process lags. The Company had capital expenditures of $24.7 million for year to date 2026, an increase from $13.5 million in the prior year period. Approximately $12.7 million of capital expenditures year to date are related to our ECHO rig program milestone payments associated with the construction of the hybrid rigs to be delivered in future periods. Conference Call The Company will host a conference call to discuss its second quarter 2026 results on Tuesday, July 28, 2026, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time). Participants within the United States may access the call by dialing 1-833-255-2829; international participants may dial 1-412-902-6710. A live audio webcast will be available through the Investor Relations section of the Company’s website at www.rangerenergy.com. Participants are encouraged to join the webcast or dial in to the conference call before the scheduled start time. An audio replay will be available on the Company’s website shortly after the conclusion of the call and will remain accessible for approximately seven days. About Ranger Energy Services, Inc. Ranger is one of the largest providers of high specification mobile rig well services, cased hole wireline services, and ancillary services in the U.S. oil and gas industry. The Company’s services support well operations across the full lifecycle, including completion, production, maintenance, intervention, workover and abandonment phases. Cautionary Statement Regarding Forward-Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact, including statements regarding strategy, future operations, financial position, estimated revenues or losses, projected costs, prospects, plans, and management objectives, are forward-looking statements. When used in this press release, the words "may," "should," "intend," "could," "believe," "anticipate," "estimate," "expect," "outlook," "project," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements represent Ranger’s current expectations or beliefs regarding future events, and actual results may differ materially from those described herein. Forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Ranger’s control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Therefore, you should not place undue reliance on any of the forward-looking statements contained herein. The Company’s future results will depend upon various risks and uncertainties, including but not limited to those detailed in its filings with the U.S. Securities and Exchange Commission ("SEC"), including those set forth under "Part I, Item 1A, Risk Factors" in the Company’s Annual Report on Form 10-K filed with the SEC on March 5, 2026. SEC filings are available through the Company’s website or through the SEC’s EDGAR system at www.sec.gov. All forward-looking statements included in this press release are expressly qualified in their entirety by this cautionary statement. Any forward-looking statement speaks only as of the date on which such statement is made, and except as otherwise required by applicable law, the Company undertakes no obligation to update any forward-looking statement to reflect future events or circumstances. RANGER ENERGY SERVICES, INC. SUPPLEMENTAL NON-GAAP FINANCIAL MEASURES (UNAUDITED) Note Regarding Non‑GAAP Financial Measure The Company utilizes certain non-GAAP financial measures that management believes to be insightful in understanding the Company’s financial results. These financial measures, which include Adjusted EBITDA and Free Cash Flow, should not be construed as being more important than, or as an alternative for, comparable U.S. GAAP financial measures. Detailed reconciliations of these non-GAAP financial measures to comparable U.S. GAAP financial measures have been included below and are available in the Investor Relations sections of our website at www.rangerenergy.com. Our presentation of Adjusted EBITDA and Free Cash Flow should not be construed as an indication that our results will be unaffected by the items excluded from the reconciliations. Our computations of these non-GAAP financial measures may not be identical to other similarly titled measures of other companies. Adjusted EBITDA We believe Adjusted EBITDA is a useful performance measure because it allows for an effective evaluation of our operating performance when compared to our peers, without regard to our financing methods or capital structure. We exclude the items listed below from net income or loss in arriving at Adjusted EBITDA because these amounts can vary substantially within our industry depending upon accounting methods, book values of assets, capital structures and the method by which the assets were acquired. Certain items excluded from Adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic costs of depreciable assets, none of which are reflected in Adjusted EBITDA. We define Adjusted EBITDA as net income or loss before net interest expense, income tax expense, depreciation and amortization, equity‑based compensation, acquisition‑related costs, severance and reorganization costs, gain on sale of assets, significant and unusual legal fees and settlements, impairment of assets, employee retention credit, inventory adjustment, and certain other non‑cash and certain other items that we do not view as indicative of our ongoing performance. The following tables are a reconciliation of net income or loss to Adjusted EBITDA for the respective periods, in millions: Free Cash Flow We believe Free Cash Flow is an important financial measure for use in evaluating the Company’s financial performance, as it measures our ability to generate additional cash from our business operations. Free Cash Flow should be considered in addition to, rather than as a substitute for, net income as a measure of our performance or net cash provided by operating activities as a measure of our liquidity. Additionally, our definition of Free Cash Flow is limited and does not represent residual cash flows available for discretionary expenditures due to the fact that the measure does not deduct the payments required for debt service and other obligations or payments made for business acquisitions. Therefore, we believe it is important to view Free Cash Flow as supplemental to our entire statement of cash flows. The following table is a reconciliation of consolidated operating cash flows to Free Cash Flow for the respective periods, in millions: View source version on businesswire.com: https://www.businesswire.com/news/home/20260727738006/en/ Contacts Investor Contact: Melissa CougleExecutive Vice President and Chief Financial Officer(713) [email protected]

This article first appeared on GuruFocus. Total Revenue: $159.1 million for Q1 2026, up from $142.2 million in Q4 2025 and $135.2 million in Q1 2025. Adjusted EBITDA: $23.3 million, with a margin of 14.6% for Q1 2026, compared to $20.3 million (14.3% margin) in Q4 2025 and $15.5 million (11.5% margin) in Q1 2025. Net Income: $3 million or $0.12 per diluted share for Q1 2026, compared to $600,000 or $0.03 per diluted share in Q1 2025. High Spec Rigs Revenue: $106.2 million in Q1 2026, up from $92.3 million in Q4 2025. High Spec Rigs Adjusted EBITDA: $21.4 million in Q1 2026, compared to $19.6 million in Q4 2025. Processing Solutions and Ancillary Services Revenue: $42.3 million in Q1 2026, up from $37.5 million in Q4 2025. Processing Solutions and Ancillary Services Adjusted EBITDA: $8 million in Q1 2026, up from $6.2 million in Q4 2025. Wireline Services Revenue: $10.6 million in Q1 2026. Free Cash Flow: Negative $21.7 million for Q1 2026, compared to positive $3.4 million in Q1 2025. Capital Expenditures: $18.3 million in Q1 2026, compared to $7.2 million in Q1 2025. Total Liquidity: $42.5 million as of March 31, 2026, including $35.6 million under the revolving credit facility and $6.9 million in cash. Warning! GuruFocus has detected 7 Warning Signs with RNGR. Is RNGR fairly valued? Test your thesis with our free DCF calculator. Release Date: April 28, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Ranger Energy Services Inc (NYSE:RNGR) reported strong financial performance with total revenue of $159.1 million and adjusted EBITDA of $23.3 million, showing growth both sequentially and year-over-year. The company successfully integrated AWS businesses and advanced its ECHO hybrid rig program, which is expected to deliver improved efficiency and lower emissions. High-spec rigs delivered strong results, with increased revenue driven by improved utilization and resilient pricing. The ancillary services segment showed solid growth, with revenue and profitability increasing due to higher activity and the inclusion of AWS offerings. Ranger's business model is well-suited to the current market environment, focusing on workover, maintenance, and production optimization services, which are essential and cost-effective. The severe winter storm in January temporarily disrupted activity, particularly in the Permian Basin, affecting the start of the quarter. There was slight margin pressure due to higher levels of white space earlier in the quarter and maintenance-related expenses. Free cash flow for the first-quarter was negative $21.7 million, primarily due to working capital timing issues. Capital expenditures increased significantly to $18.3 million, driven by milestone payments related to the ECHO hybrid rig build-out program. The company faced challenges with working capital due to customer billing blackout periods and transition-related billing changes. Q: How is the current oil market environment affecting customer behavior and activity levels? A: Stuart Bodden, CEO, noted that while larger customers remain disciplined, there is increased interest and inbound inquiries. Smaller operators are showing more activity, particularly in accelerating barrels through workover programs. The company exited the quarter strongly, and this positive trend has continued into April. Q: Is there any slack in the system, or is Ranger considering reactivating rigs to meet demand? A: Stuart Bodden, CEO, mentioned that while there is a little slack, they are nearing the point where they will need to hire crews and add capacity to meet new demand. Q: Can you elaborate on the working capital build this quarter and its expected resolution? A: Melissa Cougle, CFO, explained that the negative cash flow was due to a substantial billing blackout by a major customer and integration-related billing changes. They expect working capital levels to normalize over the next two quarters, with significant improvement anticipated in Q2 and Q3. Q: How does the current market outlook impact Ranger's strategy, particularly regarding consolidation and ECHO new builds? A: Stuart Bodden, CEO, stated that while there won't be a massive shift in strategy, they are more confident and aggressive on the margin. The ECHO program is expected to be additive, and they are naturally adding capacity with these rigs. Q: Are there any supply chain issues affecting Ranger's operations? A: Stuart Bodden, CEO, indicated that Ranger is not currently experiencing supply chain issues. However, he anticipates potential labor tightness in the future. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Solid Q1 results despite weather: Ranger reported revenue of $159.1M and adjusted EBITDA of $23.3M, saying the quarter rebounded after Winter Storm Fern and exited with stronger utilization and momentum into April. High-spec rigs and ECHO driving performance: The high-spec rig segment led growth with margins above 20% and a rig rate expanded to $731/hour, while the ECHO hybrid-electric rigs—already deployed—show "impressive" early results and are expected to be additive capacity. Working-capital hit and constrained near-term cash flow: Free cash flow was negative $21.7M mainly from working-capital timing and ERP transition effects, leaving total liquidity of $42.5M, with management expecting gradual normalization across Q2–Q3. Interested in Ranger Energy Services, Inc.? Here are five stocks we like better. Ranger Energy Services (NYSE:RNGR) reported first-quarter 2026 results marked by year-over-year growth and improving momentum late in the quarter, even as operations were disrupted early on by severe winter weather. On the company’s earnings call, executives said activity rebounded in February and March after Winter Storm Fern temporarily slowed work across regions, particularly in the Permian Basin. CEO Stuart Bodden said the quarter “began sluggishly but finished with strong momentum,” adding that the improved cadence continued into April. Ranger reported total revenue of $159.1 million and adjusted EBITDA of $23.3 million for the first quarter, which Bodden characterized as “solid financial results with meaningful year-over-year growth.” → Homebuilder Earnings: D.R. Horton Sticks Out as Pulte & NVR Sales Tank While the storm created several days of downtime in January, Bodden said utilization improved as conditions normalized, and the company exited the quarter with “stronger utilization and improving operating cadence.” The high-spec rigs segment again served as the company’s largest contributor. Bodden said segment revenue increased sequentially and year-over-year, supported by a full quarter of legacy AWS rigs, improved utilization across the legacy Ranger fleet, and “resilient pricing.” → Meta Platforms Earnings Preview: What to Watch in Q1 2026 Report He noted some margin pressure from “higher levels of white space earlier in the quarter and some maintenance-related expenses,” but said segment margins remained “over 20%” and are expected to improve in the second and third quarters as scheduling and scale benefits take hold. Bodden also highlighted an “expansion of our rig rate to $731 per hour.” CFO Melissa Cougle provided additional detail, reporting high-spec rig segment revenue of $106.2 million versus $92.3 million in the fourth quarter of 2025. Rig hours totaled about 145,400, up from 128,500 in the prior quarter and 115,700 in the first quarter of 2025. Segment adjusted EBITDA was $21.4 million, compared with $19.6 million in the fourth quarter and $17.4 million a year earlier. Cougle said margins remained above 20% due to “solid execution, cost discipline, and operating leverage.” → Palantir Is Down 30%: Noise? Or a Signal to Accumulate? Management reiterated that integrating the AWS businesses remains a key priority, with Bodden saying integration progressed well and Ranger is already seeing early benefits from combining acquired assets with its platform. Ranger also discussed continued progress on its ECHO hybrid electric rig program. Bodden said construction activity is underway and advancing as planned, and that the first ECHO rigs deployed in late 2025 are currently operating in the field with “impressive” early results, including “a high amount of productive time” and positive customer feedback. He said the company views ECHO as a differentiator, citing improved efficiency, lower fuel consumption, and emissions benefits for customers. In the Q&A, Bodden said Ranger has become “more and more confident” the ECHO rigs will be “additive” capacity rather than displacing existing equipment, which he described as potentially meaningful for the business. Bodden said ancillary services continued to grow in strategic importance, with opportunities to expand through cross-selling, utilization improvements, and leveraging customer relationships. He highlighted progress within several service lines, including the P&A group beginning work under a recently awarded Texas Railroad Commission contract. Bodden said the work is progressing well and helps diversify the revenue base. He also called the tubing, rental, and inspection business acquired in the fall “a bright spot,” saying it has capacity to grow with minimal capital and strong incremental margins. On wireline, Bodden said the company was “particularly pleased” by improved stability and performance, noting that Ranger has historically struggled to generate positive adjusted EBITDA in the first quarter due to winter weather and the business’ more northern exposure. He said activity improved meaningfully in March and the segment exited the quarter with “respectable margins.” Cougle reported processing solutions and ancillary services segment revenue of $42.3 million, up from $37.5 million in the fourth quarter and $30.5 million in the first quarter of 2025. Segment adjusted EBITDA was $8.0 million, up from $6.2 million sequentially and $5.6 million a year earlier, reflecting higher activity and continued ramp of AWS-acquired services. Wireline services segment revenue was $10.6 million. Cougle said the segment was essentially break-even on adjusted EBITDA in the first quarter, compared with an adjusted EBITDA loss of $2.3 million in the prior year period. Cougle said Ranger posted net income of $3.0 million, or $0.12 per diluted share, compared with $600,000, or $0.03 per diluted share, in the first quarter of 2025. Adjusted EBITDA margin was 14.6% versus 14.3% in the fourth quarter and 11.5% a year ago. She also noted general and administrative expense of $7.8 million, down from $8.9 million in the fourth quarter due to elevated AWS transaction-related costs in the prior period. Free cash flow was negative $21.7 million, compared with positive $3.4 million in the first quarter of 2025. Cougle attributed the change primarily to working capital timing issues, including accounts receivable build tied to a customer’s billing blackout period at year-end, billing changes and new price books for the legacy AWS business, and temporary impacts from transitioning to Ranger’s ERP system. In response to an analyst question, Cougle said the company expected gradual normalization over the next two quarters, with ERP go-live effects continuing to be challenging for about a month after April 1. She said she expected days sales outstanding to improve in May and June, adding, “I don't think you'll see everything get back to normal by the end of Q2, but I think we'll see a lot of normalization in Q2, and then we'll pick the final piece of it up in Q3.” She also noted Ranger chose late in the quarter to clear open accounts payable ahead of moving the AWS organization into Ranger, which created a near-term working capital hit but was viewed as beneficial for the transition. Capital expenditures were $18.3 million in the quarter versus $7.2 million in the prior-year quarter, driven primarily by milestone payments for the ECHO rig build-out. Cougle also said Ranger received a large upfront contribution from a key customer related to ECHO, which increased liabilities on the balance sheet and will be recognized as revenue over the life of the contract. As of March 31, 2026, Ranger reported total liquidity of $42.5 million, consisting of $35.6 million of revolver availability and $6.9 million in cash. Looking ahead, Bodden said customer sentiment improved modestly during the quarter as crude oil futures strengthened and geopolitical developments influenced the market. However, he told analysts the company’s largest customers remained “fairly disciplined,” with increases more visible “on the margins” among smaller operators looking to accelerate production through workovers. Bodden said Ranger is nearing the point where meeting incremental demand could require reactivating rigs and hiring additional crews, while adding that the company has not experienced supply chain constraints but could see labor tightness emerge again in coming quarters. Ranger Energy Services, Inc, based in The Woodlands, Texas, is a North American land drilling contractor serving exploration and production companies in the oil and natural gas industry. The company provides contract drilling, well servicing, pressure pumping and completion support services designed to enhance operational efficiency and optimize well performance. Through its diversified fleet of drilling and service rigs and ancillary equipment, Ranger offers turnkey solutions across all phases of the drilling lifecycle—from pad construction and drilling to completion and workover operations. The article "Ranger Energy Services Q1 Earnings Call Highlights" was originally published by MarketBeat.