Ranger Energy Services Stock Earnings Reports

Ranger Energy reported strong Q2 2026 results driven by continued integration of the American Well Services (AWS) acquisition, sequential revenue growth, margin expansion, and improving cash flow. Total revenue was $177.0M (up 10.9% sequentially; +25.5% YoY) and adjusted EBITDA was $28.6M (16.2% margin), lifting the company to an annualized adjusted EBITDA run rate in excess of $100M. High-spec rigs performed well (rig hours and modest rate recovery), ancillary services (notably coiled tubing, P&A and Torrent) showed strong growth, and Wireline delivered an exceptional quarter (revenue +75% Q/Q) though management expects wireline to soften in H2. Ranger is progressing Echo hybrid-electric workover rig deployments (first field tests underway; target cadence ~1 rig/month with 20+ units now under contract after a new Chevron commitment), and sees Echo as a differentiator for safety, fuel/emissions and efficiency. Q2 free cash flow was ~$20M; YTD free cash flow neutral due to working capital build and Echo spending. Full-year CapEx is estimated at ~$50M (approximately $23M related to Echo). The company repurchased ~$4.5M of stock in the quarter (283k shares) and has repurchased $52.1M (4.6M shares) since mid-2023, maintained a quarterly dividend, and ended the quarter with ~$61.3M liquidity (revolver capacity + cash). Management expects Q3 to be similarly strong to Q2 with potential softening in Q4 due to seasonality, and continues to prioritize safety, integration synergies, cross-selling, capital allocation (buybacks, Echo investment, selective M&A) and balance sheet strength.