Ranger Energy Services, Inc. (RNGR) Earnings Call Transcripts

Ranger Energy Services, Inc.'s Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Ranger Energy Services reported total revenue of $159.1 million, a significant increase from $135.2 million in Q1 2025, driven by higher activity levels in high-spec rigs and ancillary services. Adjusted EBITDA reached $23.3 million, reflecting a margin of 14.6%, up from $15.5 million and 11.5% margin in the prior year. Management indicated that while the quarter began slowly due to a severe winter storm, activity rebounded in February and March, and they expect continued momentum into the second quarter, maintaining a positive outlook for the remainder of the year.

Reported metrics

Guidance from management

Management expects continued momentum into Q2 2026, with improved operational performance and margins. They indicated that working capital levels should normalize over the next two quarters.

What management said

There's a little bit, but not much. I'd say we're kind of getting to the point now where like if somebody wants to do a smaller program and we have a little bit of stacking the schedule, we can fit them in. But we're kind of getting to the point now to where we're hiring crews and we'll need to add capacity.

Yes. I mean, right now, it's about the same. It hasn't meaningfully changed. That number includes -- you always have some rigs that are getting preventative maintenance or refurbs, et cetera. But I'd say right now, it's about the same. But again, kind of to Don's question earlier, we're kind of getting near that point where to satisfy new demand, we're going to have to activate rigs.

What analysts pressed on

Analysts expressed concerns regarding the unexpected negative free cash flow and the significant working capital build-up. There were questions about the impact of billing delays and the integration of AWS services on cash flow and operational efficiency.

Main topics on the call

• Revenue Growth — Ranger's revenue increased to $159.1 million in Q1 2026, up from $135.2 million in Q1 2025, driven by improved activity levels in high-spec rigs and ancillary services. Management noted, "the quarter began sluggishly but...
• Adjusted EBITDA Improvement — Adjusted EBITDA for Q1 2026 was $23.3 million, compared to $15.5 million in Q1 2025, indicating improved operational efficiency. The margin increased to 14.6%, reflecting strong performance across segments, particularly ...
• High-Spec Rigs Performance — The high-spec rigs segment generated $106.2 million in revenue, up from $92.3 million in Q4 2025, supported by increased rig hours. Management stated, "high-spec rigs once again delivered strong results in the first quar...
• Challenges in Working Capital — Ranger reported negative free cash flow of $21.7 million due to working capital timing issues, particularly related to billing delays. CFO Melissa Cougle noted, "we expect that working capital levels will return to more ...

Read the full Ranger Energy Services, Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 28 Ranger Energy Services, Inc. earnings call transcripts on record, spanning February 28, 2020 to July 28, 2026. Based on this history, Ranger Energy Services, Inc. reports quarterly. The most recent call on file is dated July 28, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

RNGR

Exchange

NYSE

Country

US

Sector

Energy

Industry

Energy Equipment and Services

Calls on record

28

First call

February 28, 2020

Most recent

July 28, 2026

Reporting cadence

quarterly