Ranger Energy Services, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 31, 2023 at 06:45 am EDT
Share
Ranger Energy Services, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 164.4 million compared to USD 177 million a year ago. Net income was USD 9.4 million compared to USD 13.6 million a year ago. Basic earnings per share from continuing operations was USD 0.38 compared to USD 0.55 a year ago. Diluted earnings per share from continuing operations was USD 0.38 compared to USD 0.54 a year ago.
For the nine months, revenue was USD 485.1 million compared to USD 454.2 million a year ago. Net income was USD 21.7 million compared to USD 7.5 million a year ago. Basic earnings per share from continuing operations was USD 0.88 compared to USD 0.34 a year ago. Diluted earnings per share from continuing operations was USD 0.86 compared to USD 0.33 a year ago.
Ranger Energy Services, Inc. is a provider of onshore high specification well service rigs, wireline services, and additional processing solutions and ancillary services in the United States. The Company operates in three segments: High Specification Rigs, Wireline Services, and Processing Solutions and Ancillary Services. The High Specification Rigs provides high specification well service rigs and complementary equipment and services to facilitate operations throughout the lifecycle of a well. The Wireline Services. provides services necessary to bring and maintain a well on production and consists of its wireline completion, wireline production and pump down lines of business. The processing Solutions and Ancillary Services provides other services often utilized in conjunction with its High Specification Rigs and Wireline Services segments. These services include equipment rentals, plug and abandonment, logistics, snubbing and coil tubing, and processing solutions.