Ranger Energy Services Q3 2021 Earnings Report
Key Takeaways
Ranger Energy Services reported a 63% sequential increase in quarterly revenues, reaching $81.7 million, primarily due to wireline acquisitions. The net loss remained consistent with the previous quarter at $9.1 million, while adjusted EBITDA increased to $3.3 million. The company completed the Basic Energy Asset Acquisition and restructured its capital structure.
Revenue grew 63% sequentially, primarily the result of wireline acquisitions
Completed Basic Energy Asset Acquisition (closed October 1st)
Restructured equity into a single share class and terminated the Tax Receivable Agreement (Q4)
Ranger had 180 rigs running during the first month of operating the Basic assets
Ranger Energy Services
Ranger Energy Services
Ranger Energy Services Revenue by Segment
Forward Guidance
Given the strong macro environment, and the early indications from our acquisitions, we are optimistic about our ability to improve margins and to generate meaningful cash flow.
Revenue & Expenses
Visualization of income flow from segment revenue to net income