Ranger Energy Services, Inc. reported a modest increase in revenue for the second quarter of 2025, achieving $140.6 million, up 2% from $138.1 million in the same period last year. The company's high specification rigs segment contributed significantly to this growth, generating $86.3 million, a 4% increase from $82.7 million in Q2 2024. However, wireline services revenue declined by 10% to $22.1 million, primarily due to reduced production and pump down services. Processing solutions and ancillary services saw a 4% increase, reaching $32.2 million, driven by growth in rentals and coil tubing services.
In terms of profitability, Ranger's net income for the second quarter rose 55% to $7.3 million, compared to $4.7 million in the prior year. This increase was attributed to improved performance in the high specification rigs and ancillary services segments, despite the challenges faced in the wireline services segment. Operating income also improved, reaching $8.6 million, up from $7.3 million in Q2 2024. The company’s operating expenses increased slightly, but the overall cost of services remained stable at 82% of revenue.
Ranger's financial position showed signs of stability, with total assets reported at $381.7 million as of June 30, 2025, a slight increase from $381.6 million at the end of 2024. The company maintained a strong liquidity position, with $48.9 million in cash and $71.2 million available under its Wells Fargo Revolving Credit Facility. The company’s working capital also improved to $90.3 million, up from $78.7 million at the end of the previous fiscal year.
Strategically, Ranger has continued its share repurchase program, buying back 278,100 shares for $3.3 million during the first half of 2025. The company has also increased its quarterly dividend to $0.06 per share, reflecting its commitment to returning value to shareholders. Looking ahead, Ranger anticipates challenges due to fluctuating oil prices and competition in the market, particularly in its wireline services segment. The company remains focused on operational efficiency and maintaining its position as a leading service provider in the U.S. energy sector.
About Ranger Energy Services, Inc.
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