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Ranger Energy Services (RNGR) investor relations material
Ranger Energy Services Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue was $162.8M, up 26.3% YoY but down 7.8% QoQ; Adjusted EBITDA was $20.1M, pressured sequentially by softer activity and higher costs.
Q3 Free Cash Flow was $20.0M; revolving-credit borrowings were zero at quarter-end, with total liquidity of $76.2M.
STEP added U.S. coiled tubing assets, while four additional ECHO commitments lifted the contracted fleet to 24 by end-2027.
Financial highlights
Q3 revenue was $162.8M versus $176.5M in Q2 and $128.9M in Q3 2025; nine-month revenue rose to $498.4M from $404.7M.
Net income was $2.5M, or $0.10 diluted EPS, versus $6.9M/$0.29 in Q2 and $1.2M/$0.05 in Q3 2025.
Adjusted EBITDA was $20.1M versus $28.6M in Q2 and $16.8M in Q3 2025; nine-month Adjusted EBITDA rose to $72.0M from $52.9M.
Operating income was $4.8M versus $11.4M in Q2 and $2.6M in Q3 2025; Q3 included a $3.0M non-cash gain from lower AWS contingent consideration.
Outlook and guidance
STEP’s coiled tubing assets are expected to contribute more than $10M of Adjusted EBITDA in 2027; the longer-term annualized Adjusted EBITDA goal remains $100M, with no firm 2027 outlook set.
Contracted ECHO fleet is expected to reach 24 rigs by end-2027; deployment timing depends on customer demand, capital plans and construction schedules.
Wireline revenue is expected to improve in Q4 as new work programs began in October, with a return to mid-single-digit margins anticipated.
- Record FY 2023 results and $54.3M free cash flow despite a 20% rig-count decline.RNGR
Q4 2023 - Acquisition creates a top-tier coiled tubing operator with expanded reach and strong financial upside.RNGR
Acquisition presentation - Q2 2026 revenue up 26% to $176.5M, EBITDA margin 16.2%, with robust capital returns.RNGR
Q2 2026 - Strong cash flow, disciplined returns, and ECHO rig innovation drive growth amid industry consolidation.RNGR
16th Annual East Coast IDEAS Conference - Market leader in well services, driving growth with innovation, acquisitions, and strong cash returns.RNGR
Investor presentation - Q1 2026 revenue up 18% to $159.1M, net income $3.0M, driven by AWS and high-spec rig growth.RNGR
Q1 2026 - Director elections, auditor ratification, and executive pay approval set for virtual annual meeting.RNGR
Proxy filing - 2025 saw robust growth, strategic expansion, and enhanced governance, with all proposals backed by the Board.RNGR
Proxy filing - 2025 saw $547M revenue, AWS integration, EchoRig launch, and strong shareholder returns.RNGR
Q4 2025
Next Ranger Energy Services earnings date
Next Ranger Energy Services earnings date
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