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Jun 30, 2022
Ranger Energy Services Q2 2022 Earnings Report
Ranger Energy Services demonstrated significant growth with expanded market presence and reduced leverage.
Key Takeaways
Ranger Energy Services reported a strong second quarter in 2022, with revenues of $153.6 million, a 24% increase from the previous quarter and a 207% increase from the same quarter last year. The company reduced its net loss to $0.4 million and achieved an adjusted EBITDA of $18.0 million, driven by increased activity and expanding margins.
Revenues increased by 24% compared to the previous quarter, reaching $153.6 million.
Net loss improved by $5.3 million, reaching $0.4 million.
Adjusted EBITDA increased by 88%, reaching $18.0 million.
Net debt was reduced by $21.8 million, or 24%, due to asset sales and working capital improvements.
Revenue by Segment
Forward Guidance
Ranger Energy Services anticipates stronger revenues for the year, projecting a range between $580 million and $600 million, and expects total company Adjusted EBITDA margins to range between 11% and 13% for the full year. The company's financial focus will be on improving operating efficiency to facilitate margin expansion and deploying cash flows to pay down debt and create shareholder value.
Positive Outlook
- Revenues for the year are expected to be stronger than previously anticipated, ranging between $580 million and $600 million.
- Total company Adjusted EBITDA margins are expected to range between 11% and 13% for the full year.
- Continued improvements to operating efficiency are expected to facilitate additional margin expansion.
- Strong cash flow generation will enable the company to pay down debt.
- Management will be looking at opportunities to create and return shareholder value, including dividends, buybacks, and strategic opportunities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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