Ranger Energy Services, Inc. · NYSE:RNGR
Ranger Energy Services — Q4 2024 Earnings Presentation
24 slides from Ranger Energy Services's earnings presentation, Mar 4, 2025
Slide 1: Year End 2024 Earnings
Year End 2024 Earnings March 2025
Slide 2: Important Disclosures
IMPORTANT DISCLOSURES Forward-Looking Statements: Certain statements contained in this press release constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements
Slide 3: 2024 Financial Summary Highlights
Q4 2023 2024 Financial Summary Highlights Consolidated Annual Revenue ($MM) 2024 Highlights $608.5 $636.6 ▪ Revenue and underlying asset base further aligned to production- $571.1 oriented work in a market where completions continued to see pressure during 2024 ▪ Year over year 7% growth in core Hig
Slide 4: Delivering Returns to Shareholders
Delivering Returns to Shareholders Capital Return Profile & Update Cumulative Free Cash Flow(1)($MM) & Returned Capital *Since program inception in Q3 2023 ▪ Announcing an increase of 20% to our base dividend, up to 6 $92.7 cents per share quarterly, reflecting our confidence in ongoing cash flows a
Slide 5: Q4 2024 Financial Summary
Q4 Q42023 2024Financial FinancialSummary Summary Revenue ($MM) & Land Rig Count(1) Q4 2024 Highlights 622 ▪ Revenue decline in Q4 resulting from seasonality within Wireline 602 and certain Ancillary business lines offset by greater quarter over 588 587 quarter growth in High Spec Rigs 569 ▪ Adjusted
Slide 6: High-Specification Rigs Segment Highlights
High-Specification Rigs Segment Highlights Revenue ($MM) & Land Drilling Rig Count(1) Q4 2024 Operational Results 622 ▪ Despite extended holiday impacts expected in 602 Q4, Rig Hours and Revenues improved quarter 588 587 over quarter 569 ▪ HSR revenue set another high-water mark for the third consec
Slide 7: Processing Solutions & Ancillary Services Segment Highlights
Processing Solutions & Ancillary Services Segment Highlights Revenue ($MM) & Land Drilling Rig Count(1) Q4 2024 Operational Results 622 ▪ Q4 margins for Processing Solutions & Ancillary Services 602 segment showed continued strength driven by consistent activity 588 587 levels 569 ▪ Full year 2024 A
Slide 8: Wireline Services Segment Highlights
Wireline Services Segment Highlights Q4 2024 Operational Results Revenue ($MM) & Land Drilling Rig Count(1) 622 ▪ Majority of wireline business revenue is tied to the Bakken and 602 DJ basins, resulting in significant downtime in Q4 & Q1 due to 588 587 holiday and weather impacts 569 ▪ Production Wi
Slide 9: A Compelling Investment
A Compelling Investment Attractive Free Cash Flow generation creates multiple value creation opportunities • Shareholder Returns: Growing quarterly dividend program, supplemented by $85 million share repurchase authorization • Self-Funded M&A: Allows for pursuit of opportunistic M&A to create value
Slide 10: Appendix: Supplemental Information
APPENDIX: SUPPLEMENTAL INFORMATION 10
Slide 11: Overview
OVERVIEW RANGER BUSINESS WELL SERVICES WIRELINE SERVICES • High-Spec Service Rigs • Intervention Services • Coiled Tubing • Pump-Down Services • Rental and Fishing • Cement and Casing Evaluation • Plug and Abandonment • Plug and Perf ANCILLARY SERVICES • Fishing and Rentals • Plug and Abandonment •
Slide 12: Non-GAAP Reconciliation: Adjusted EBITDA
Non-GAAP Reconciliation: Adjusted EBITDA (in millions) Processing High Solutions and Specification Wireline Ancillary Rigs Services Services Other Total Three Months Ended December 31, 2024 Net income (loss) $ 13.4 $ (3.0) $ 5.5 $ (10.1) $ 5.8 Interest expense, net — — — 0.5 0.5 Income tax expense —
Slide 13: Non-GAAP Reconciliation: Adjusted EBITDA
Non-GAAP Reconciliation: Adjusted EBITDA (in millions) Processing High Solutions and Specification Wireline Ancillary Rigs Services Services Other Total Three Months Ended September 30, 2024 Net income (loss) $ 13.8 $ — $ 6.6 $ (11.7) $ 8.7 Interest expense, net — — — 0.7 0.7 Income tax expense — —
Slide 14: Non-GAAP Reconciliation: Adjusted EBITDA
Non-GAAP Reconciliation: Adjusted EBITDA (in millions) Processing High Solutions and Specification Wireline Ancillary Rigs Services Services Other Total Three Months Ended June 30, 2024 Net income (loss) $ 11.8 $ (2.6) $ 5.2 $ (9.7) $ (4.7) Interest expense, net — — — 0.6 0.6 Income tax expense — —
Slide 15: Non-GAAP Reconciliation: Adjusted EBITDA
Non-GAAP Reconciliation: Adjusted EBITDA (in millions) Processing High Solutions and Specification Wireline Ancillary Rigs Services Services Other Total Three Months Ended March 31, 2024 Net income (loss) $ 7.8 $ (2.9) $ 0.5 $ (6.2) $ (0.8) Interest expense, net — — — 0.8 0.8 Income tax benefit — —
Slide 16: Non-GAAP Reconciliation: Adjusted EBITDA
Non-GAAP Reconciliation: Adjusted EBITDA (in millions) Processing High Solutions and Specification Wireline Ancillary Rigs Services Services Other Total Three Months Ended December 31, 2023 Net income (loss) $ 10.0 $ (1.8) $ 3.4 $ (9.5) $ 2.1 Interest expense, net — — — 0.7 0.7 Income tax expense —
Slide 17: Non-GAAP Reconciliation: Adjusted EBITDA
Non-GAAP Reconciliation: Adjusted EBITDA (in millions) Processing High Solutions and Specification Wireline Ancillary Rigs Services Services Other Total Three Months Ended September 30, 2023 Net income (loss) $ 10.6 $ 4.3 $ 4.5 $ (10.0) $ 9.4 Interest expense, net — — — 0.7 0.7 Income tax expense —
Slide 18: Non-GAAP Reconciliation: Adjusted EBITDA
Non-GAAP Reconciliation: Adjusted EBITDA (in millions) Processing High Solutions and Specification Wireline Ancillary Rigs Services Services Other Total Three Months Ended June 30, 2023 Net income (loss) $ 11.5 $ 2.8 $ 4.2 $ (12.4) $ 6.1 Interest expense, net — — — 0.9 0.9 Income tax expense — — — 2
Slide 19: Non-GAAP Reconciliation: Adjusted EBITDA
Non-GAAP Reconciliation: Adjusted EBITDA (in millions) Processing High Solutions and Specification Wireline Ancillary Rigs Services Services Other Total Three Months Ended March 31, 2023 Net income (loss) $ 11.9 $ 1.8 $ 3.4 $ (10.9) $ 6.2 Interest expense, net — — — 1.2 1.2 Income tax expense — — —
Slide 20: Non-GAAP Reconciliation: Adjusted EBITDA
Non-GAAP Reconciliation: Adjusted EBITDA (in millions) Processing High Solutions and Specification Wireline Ancillary Rigs Services Services Other Total Three Months Ended December 31, 2022 Net income (loss) $ 9.8 $ 2.0 $ 4.6 $ (8.8) $ 7.6 Interest expense, net — — — 1.6 1.6 Income tax benefit — — —
Slide 21: Non-GAAP Reconciliation: Adjusted EBITDA
Non-GAAP Reconciliation: Adjusted EBITDA (in millions) Processing High Solutions and Specification Wireline Ancillary Rigs Services Services Other Total Three Months Ended September 30, 2022 Net income (loss) $ 10.7 $ 8.6 $ 9.2 $ (14.9) $ 13.6 Interest expense, net — — — 1.8 1.8 Income tax expense —
Slide 22: Non-GAAP Reconciliation: Adjusted EBITDA
Non-GAAP Reconciliation: Adjusted EBITDA (in millions) Processing High Solutions and Specification Wireline Ancillary Rigs Services Services Other Total Three Months Ended June 30, 2022 Net income (loss) $ 6.1 $ 1.5 $ 5.1 $ (13.1) $ (0.4) Interest expense, net — — — 1.8 1.8 Income tax benefit — — —
Slide 23: Non-GAAP Reconciliation: Adjusted EBITDA
Non-GAAP Reconciliation: Adjusted EBITDA (in millions) Processing High Solutions and Specification Wireline Ancillary Rigs Services Services Other Total Three Months Ended March 31, 2022 Net income (loss) $ 7.7 $ (4.5) $ 1.3 $ (10.2) $ (5.7) Interest expense, net — — — 2.1 2.1 Income tax benefit — —
Slide 24: Non-GAAP Reconciliation: Free Cash Flows
Non-GAAP Reconciliation: Free Cash Flows (in millions) Three Months Ended December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 Net cash provided by operating activities $ 32.7 $ 17.7 $ 22.1 $ 12.0 $ 37.7 Purchase of property and equipment (5.4) (6.9) (15.3) (6.5) (8.6)
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