Ranger Energy Services, Inc. Reports Third Quarter 2026 Financial Results
Business Wire•09/11/2026•16:31 ET
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Key Highlights
- ➤Q3 revenue $162.8 million, up $33.9 million year over year
- ➤Q3 net income $2.5 million, or $0.10 per diluted share
- ➤Q3 Adjusted EBITDA $20.1 million, down $8.5 million sequentially
- ➤Free cash flow $20.0 million; borrowings fully repaid, ending with zero net debt
- ➤STEP coil tubing acquisition expected to contribute over $10 million EBITDA in 2027
- ➤Four additional ECHO rigs awarded, bringing contracted fleet to 24 by end-2027
Expert Statements
Stuart Bodden, Chief Executive Officer of Ranger Energy Services
“The past few months have marked meaningful strategic progress for Ranger. We completed the STEP coil tubing acquisition and are now positioned as the second largest coil tubing provider in the lower 48 market, expanded our contracted ECHO fleet further establishing a competitive advantage in the next generation of well-servicing equipment and navigated a challenging competitive dynamic.”
Stuart Bodden, Chief Executive Officer of Ranger Energy Services
“Additionally, we were awarded four additional rigs during the quarter, which will take our contracted ECHO fleet to 24 rigs by the end of 2027.”
Stuart Bodden, Chief Executive Officer of Ranger Energy Services
“The build program is running ahead of schedule, and the feedback from customers has been positive, reinforcing both efficiency of operations and enhanced safety.”
Stuart Bodden, Chief Executive Officer of Ranger Energy Services
“This quarter we faced unexpectedly softer activity, some pricing challenges and margin degradation from increased inflationary costs across several categories, the largest being an incremental $1.5 million in employee medical costs quarter over quarter.”
Stuart Bodden, Chief Executive Officer of Ranger Energy Services
“As we head into 2027, Ranger has more ways to grow than at any point in our history.”
Stuart Bodden, Chief Executive Officer of Ranger Energy Services
“Our competitive moat is deeper now than it has ever been and we remain focused on our goal of achieving $100 million of annual EBITDA, supported by expanded platform and these initiatives.”
Ranger Energy Services, Inc. Reports Third Quarter 2026 Financial Results
Ranger Energy Services, Inc. (NYSE: RNGR) (“Ranger” or the “Company”) today reported its financial and operational results for the third quarter ended September 30, 2026.
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