The following is a summary of the Ranger Energy Services, Inc. (RNGR) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Ranger Energy Services reported a Q3 2024 revenue of $153 million, a 20% increase from the $21 million in Q2 and a 5% increase over the prior year.

• Net income for Q3 was $8.7 million, resulting in earnings per share of $0.39, an 86% improvement from the prior quarter.

• Adjusted EBITDA was reported at $25.1 million, reflecting strong financial health.

• Gross margin was 16.5%, showcasing effective cost management and operational efficiency.

Business Progress:

• Significant growth in High Specification Rig segment, achieving record quarterly revenue and adjusted EBITDA.

• Positive developments in Ancillary Services, particularly with the coiled tubing business posting a new quarterly revenue record.

• The Torrent business under Ancillary Services showed nearly doubling EBITDA QoQ, with growth attributed to infield gas processing.

• Improvement observed in the Wireline segment, indicating successful restructuring efforts.

Opportunities:

• The continuation of strategic investments and partnerships, particularly in enhancing service offerings around well service rigs which include a complete package of support equipment, aligning with larger operator needs.

Risks:

• Seasonality impacts expected to affect business performance due to weather and holiday disruptions, specifically in the Wireline services and Northern region operations.

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