Ranger Energy Services Q3 2022 Earnings Report
Key Takeaways
Ranger Energy Services reported a successful Q3 2022 with revenue of $177.0 million, a net income of $13.6 million, and an adjusted EBITDA of $30.3 million. The company saw revenue increase by 15% quarter over quarter, while Adjusted EBITDA grew 69%.
Revenue for Q3 2022 was $177.0 million, a 15% increase from the previous quarter and over 100% from the prior year.
Net income for Q3 was $13.6 million, a $14.0 million improvement from the previous quarter and a 250% increase from Q3 2021.
Adjusted EBITDA of $30.3 million increased 69% from the previous quarter, driven by increased activity and expanding margins.
Net debt was reduced by 19%, or $13.2 million, from the prior quarter, with operating cash flow of $10.7 million for the third quarter.
Ranger Energy Services
Ranger Energy Services
Ranger Energy Services Revenue by Segment
Forward Guidance
Ranger Energy Services expects revenue to range between $615 and $620 million for the full year with Adjusted EBITDA margins near the top end of prior guidance of 13%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income