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Get filing alertsRanger Energy reports Q2 revenue of $176.5M, net income of $6.9M, repurchases 282,900 shares
Filed July 27, 2026 · Period ending July 27, 2026 · ~1 min read
Key Changes
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Q2 2026 revenue of $176.5M, up 10.9% sequentially and 25.5% year-over-year; net income of $6.9M ($0.29/share) more than doubled from Q1's $3.0M ($0.12/share); Adjusted EBITDA of $28.6M with 16.2% margin, up from 14.6% prior quarter.
Exhibit 99.1 view on EDGAR → -
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Repurchased 282,900 shares at average price of $15.84 for $4.5M in Q2, bringing cumulative buybacks since 2023 to 4.6M shares for $52.1M at $11.17 average; free cash flow of $20.0M supported capital returns.
Exhibit 99.1 view on EDGAR → -
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Board declared quarterly cash dividend of $0.06 per share payable August 21, 2026 to shareholders of record August 7, 2026.
Item 8.01 verify on EDGAR → -
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Chevron awarded contract for three additional ECHO hybrid electric rigs, expanding next-generation fleet with core customer.
Exhibit 99.1 view on EDGAR → -
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Wireline Services segment revenue surged 75% sequentially to $18.6M with 2,560 completed stages (up 246% from Q1); swung to $1.0M operating income from $2.4M loss prior quarter, though management expects more modest profitability in H2 2026.
Exhibit 99.1 view on EDGAR →
Summary
Ranger Energy Services reported strong second quarter 2026 results with revenue of $176.5 million, up 10.9% sequentially and 25.5% year-over-year, driven by execution across all segments and integration of the AWS acquisition. Net income more than doubled to $6.9 million ($0.29 per share) from $3.0 million in the prior quarter, while Adjusted EBITDA reached $28.6 million with margin expansion to 16.2% from 14.6%. The company generated $20.0 million in free cash flow, supporting the repurchase of 282,900 shares at an average price of $15.84 and a $0.06 per share quarterly dividend.
The Wireline Services segment delivered a breakout quarter with revenue up 75% sequentially to $18.6 million and 2,560 completed stages (up 246% from Q1), swinging to profitability with $1.0 million operating income versus a $2.4 million loss in the prior quarter. The High Specification Rigs segment generated $113.4 million in revenue with hourly rates rising 6% sequentially to $772, though results were impacted by a $750,000 disputed state tax audit levy. Ranger also announced a contract award from Chevron for three additional ECHO hybrid electric rigs, expanding its next-generation fleet with a core customer and demonstrating market adoption of the differentiated technology platform.
Section-by-Section Diff
Event · Exhibit 99.1
Ranger Energy Services reported Q2 2026 revenue of $176.5M, net income of $6.9M ($0.29/share), and Adjusted EBITDA of $28.6M, while repurchasing 282,900 shares.
Added in current filing · view on EDGAR →
High Specification Rigs segment revenue was $113.4 million in the second quarter of 2026, an increase of $4.3 million from $109.1 million in the first quarter of 2026 and an increase of $27.1 million from $86.3 million in the prior year period. Rig hours increased 1% sequentially to 146,800 from 145,400, and increased 25% year over year from 117,000. Hourly rig rates increased modestly, rising 6% sequentially to $772 per hour from $731, and 5% year over year from $738, largely reflecting the pass through of fuel surcharges as well as certain changes in asset and regional revenue mix.
Segment operating income was $11.2 million in the second quarter of 2026, an increase of $0.8 million, or 8%, from $10.4 million in the prior quarter, and a decrease of $0.8 million, or 7%, from $12.0 million in the prior year period. Adjusted EBITDA(1) was $20.6 million, down from $21.4 million in the first quarter of 2026 and up from $17.6 million in the second quarter of 2025. The quarter was negatively affected by a unique $750,000 audit levy assessed by a state taxing authority related to prior years that is currently under dispute.
The High Specification Rigs segment generated $113.4 million in revenue with 146,800 rig hours at $772 per hour, up 6% sequentially. Adjusted EBITDA was $20.6 million, down from $21.4 million in Q1 2026 but up from $17.6 million in Q2 2025. Results were negatively impacted by a $750,000 state sales tax audit levy under dispute and make-ready costs for upcoming ECHO deployments.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 28, 2026 · How we verify