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Dec 31, 2024
Ranger Energy Services Q4 2024 Earnings Report
Ranger Energy Services posted strong Q4 2024 results, with record performance in High-Specification Rigs and increased profitability in Ancillary Services.
Key Takeaways
Ranger Energy Services reported Q4 2024 revenue of $143.1 million, a decrease from the prior quarter due to seasonal declines in Wireline Services. Net income for the quarter was $5.8 million, with EPS of $0.25. Adjusted EBITDA stood at $21.9 million, driven by strong margins in High-Specification Rigs and Ancillary Services. The company also announced an increase in its quarterly dividend by 20% to $0.06 per share.
Q4 revenue reached $143.1 million, down 5% quarter-over-quarter.
Net income rose to $5.8 million, up from $2.1 million in Q4 2023.
Adjusted EBITDA increased year-over-year to $21.9 million.
High-Specification Rigs posted record revenue of $87.0 million.
Ranger Energy Services
Ranger Energy Services
Ranger Energy Services Revenue by Segment
Revenue by Segment
High-Specification Rigs Revenue
CapyFin.comWireline Services Revenue
CapyFin.comProcessing & Ancillary Revenue
CapyFin.com Forward Guidance
Ranger Energy Services expects modest growth in 2025, with strong contributions from Ancillary Services and High-Specification Rigs. Wireline Services is anticipated to rebound in Q2 following a seasonal decline in Q1.
Positive Outlook
- Continued strength in High-Specification Rigs segment.
- Expected revenue growth in Plugging & Abandonment and Torrent services.
- Dividend increased by 20% to $0.06 per share.
- Sufficient liquidity with $112.1 million in total available cash and credit.
- Operational efficiencies expected to support margin improvements.
Challenges Ahead
- Wireline Services segment saw a 46% YoY revenue decline.
- Seasonal weakness in Q1 2025 could impact margins.
- Pricing pressure in some service lines reducing operating leverage.
- Higher general and administrative expenses impacting profitability.
- Macroeconomic conditions may slow demand in certain markets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income