Earnings Releases·Nov 9, 2026, 4:34 PM ET

Ranger Energy Services, Inc. — Third Quarter 2026 Earnings Summary

Revenue rose 26% year-over-year to $162.8 million but declined 8% sequentially; net income increased to $2.5 million ($0.10 EPS) from $1.2 million in Q3 2025, though it fell from $6.9 million in Q2 2026, while Adjusted EBITDA grew 20% YoY to $20.1 million but dropped 30% sequentially.
Completed the acquisition of STEP Energy Services' US coil tubing assets to become the second-largest provider in the lower 48 market, with the ECHO hybrid rig program running ahead of schedule and contracted to reach 24 rigs by end-2027.
Management targets $100 million in annual EBITDA supported by strategic initiatives, anticipates a return to mid-single-digit Wireline margins in Q4, and expects to pursue further accretive acquisitions.
Achieved a zero net debt position by paying off all revolving credit facility borrowings, while returning $11.7 million to shareholders year-to-date via $2.2 million in share repurchases and a declared $0.06 per share dividend.
Reported margin pressure due to $1.5 million in incremental employee medical costs and softer activity in the Wireline segment, alongside a 46% increase in accounts receivable to $113.5 million driven by extended customer payment terms.