$RNGR

Ranger Energy Services, Inc.

CIK:0001699039|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue
Total revenue	$ 176.5	$ 140.6	$ 335.6	$ 275.8
Cost of services (exclusive of depreciation and amortization):
Total cost of services (exclusive of depreciation and amortization)	142.7	115.0	273.3	230.4
General and administrative	7.6	7.0	15.4	14.1
Depreciation and amortization	15.6	10.9	31.8	21.5
Impairment of assets	0.0	0.0	0.0	0.4
Gain on sale of assets	(1.2)	(0.9)	(1.8)	(0.2)
Total operating expenses	164.7	132.0	318.7	266.2
Operating income	11.8	8.6	16.9	9.6
Other income and expenses
Interest expense, net	1.1	0.1	1.9	0.6
Other expense (income), net	0.4	(1.6)	0.7	(1.6)
Total other expense (income), net	1.5	(1.5)	2.6	(1.0)
Income before income tax expense	10.3	10.1	14.3	10.6
Income tax expense	3.4	2.8	4.4	2.7
Net income	$ 6.9	$ 7.3	$ 9.9	$ 7.9
Income per common share
Basic (in dollars per share)	$ 0.29	$ 0.33	$ 0.42	$ 0.35
Diluted (in dollars per share)	$ 0.29	$ 0.32	$ 0.41	$ 0.35
Weighted average common shares outstanding
Basic (in shares)	23,694,601	22,457,455	23,649,757	22,384,737
Diluted (in shares)	23,995,214	22,673,369	23,983,192	22,714,732
High Specification Rigs
Revenue
Total revenue	$ 113.4	$ 86.3	$ 222.5	$ 173.8
Cost of services (exclusive of depreciation and amortization):
Total cost of services (exclusive of depreciation and amortization)	93.0	68.7	181.2	138.8
Wireline Services
Revenue
Total revenue	18.6	22.1	29.2	39.3
Cost of services (exclusive of depreciation and amortization):
Total cost of services (exclusive of depreciation and amortization)	15.2	20.7	25.9	41.0
Processing Solutions and Ancillary Services
Revenue
Total revenue	44.5	32.2	83.9	62.7
Cost of services (exclusive of depreciation and amortization):
Total cost of services (exclusive of depreciation and amortization)	$ 34.5	$ 25.6	$ 66.2	$ 50.6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities
Net income	$ 9.9	$ 7.9
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	31.8	21.5
Equity based compensation	3.3	3.2
Gain on sale of assets	(1.8)	(0.2)
Deferred income tax expense	3.6	2.5
Impairment of assets	0.0	0.4
Change in fair value of contingent consideration	0.7	0.0
Other expenses	0.6	0.9
Changes in operating assets and liabilities
Accounts receivable, net	(45.1)	(1.3)
Contract assets	(17.3)	(1.8)
Inventory	(0.1)	(0.1)
Prepaid expenses and other current assets	4.1	2.7
Other assets	1.6	1.2
Accounts payable	3.8	(3.6)
Accrued expenses	15.3	(0.3)
Other current liabilities	(0.8)	(1.7)
Other long-term liabilities	13.4	0.0
Net cash provided by operating activities	23.0	31.3
Cash Flows from Investing Activities
Purchase of property and equipment	(24.7)	(13.5)
Proceeds from disposal of property and equipment	1.3	1.9
Net cash used in investing activities	(23.4)	(11.6)
Cash Flows from Financing Activities
Principal payments on financing lease obligations	(5.2)	(3.4)
Principal payments on other financing liabilities	(0.3)	(0.3)
Dividends paid to Class A Common Stock stockholders	(3.0)	(2.8)
Shares withheld for equity compensation	(2.4)	(1.9)
Repurchase of Class A Common Stock	(5.0)	(3.3)
Net cash used in financing activities	(5.7)	(11.7)
Decrease in cash and cash equivalents	(6.1)	8.0
Cash and cash equivalents, Beginning of Period	10.3	40.9
Cash and cash equivalents, End of Period	4.2	48.9
Supplemental Cash Flow Information
Interest paid	1.1	1.0
Supplemental Disclosure of Non-cash Investing and Financing Activities
Capital expenditures included in accounts payable and accrued liabilities	(0.5)	0.1
Additions to fixed assets through installment purchases and financing leases	(3.3)	(3.5)
Additions to fixed assets through asset trades	(1.4)	(0.9)
Senior Revolving Credit Facility
Cash Flows from Financing Activities
Borrowings under Revolving Credit Facility	68.3	0.2
Principal payments on Revolving Credit Facility	$ (58.1)	$ (0.2)

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and cash equivalents	$ 4.2	$ 10.3
Accounts receivable, net	123.5	77.9
Contract assets	34.4	17.1
Inventory	3.0	3.1
Prepaid expenses and other current assets	8.4	12.5
Assets held for sale	0.3	0.3
Total current assets	173.8	121.2
Property and equipment, net	278.5	280.9
Intangible assets, net	4.5	4.9
Operating leases, right-of-use assets	9.4	11.0
Other assets	1.4	1.3
Total assets	467.6	419.3
Liabilities and Stockholders' Equity
Accounts payable	29.5	25.3
Accrued expenses	40.1	25.4
Other financing liability, current portion	0.8	0.7
Long-term debt, current portion	13.7	3.5
Short-term lease liability	10.6	11.3
Other current liabilities	5.8	3.0
Total current liabilities	100.5	69.2
Long-term lease liability	14.8	16.8
Other financing liability	9.2	9.6
Deferred tax liability	27.2	23.5
Contract liabilities	12.9	0.0
Other long-term liabilities	0.1	0.1
Total liabilities	164.7	119.2
Commitments and contingencies (Note 16)
Stockholders' equity
Preferred stock, $0.01 per share; 50,000,000 shares authorized; no shares issued or outstanding as of June 30, 2026 and December 31, 2025	0.0	0.0
Less: Class A Common Stock held in treasury at cost; 4,155,728 treasury shares as of September 30, 2025 and 3,877,628 treasury shares as of December 31, 2024	(55.9)	(50.9)
Retained earnings	55.9	48.9
Additional paid-in capital	302.6	301.8
Total stockholders' equity	302.9	300.1
Total liabilities and stockholders' equity	467.6	419.3
Class A Common Stock
Stockholders' equity
Common stock	0.3	0.3
Class B Common Stock
Stockholders' equity
Common stock	$ 0.0	$ 0.0