Ranger Energy Services, Inc. announced its first-quarter 2025 results on April 29, 2025, reporting revenue of $135.2 million. This figure represented a slight decrease from $136.9 million in the prior year period and a decrease from $143.1 million in the fourth quarter of 2024. The company's operations were significantly impacted by two polar vortex events in January and February, along with windstorms in March.
Despite these weather-related challenges, Ranger posted materially improved Adjusted EBITDA year-over-year, reaching $15.5 million, up from $10.9 million in Q1 2024. The flagship High Specification Rigs business delivered a record revenue quarter at $87.5 million, demonstrating continued market share gains and resilience. However, the Wireline Services segment experienced the largest impact from weather, reporting an Adjusted EBITDA loss of $2.3 million for the quarter.
The company maintained strong liquidity of $104.4 million as of March 31, 2025, comprising $40.3 million in cash and $64.1 million available on its revolving credit facility. Ranger also declared its quarterly cash dividend of $0.06 per share, payable on May 23, 2025. Management anticipates a stronger activity trajectory as the second quarter begins, with March wireline financial results improving to breakeven levels.
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