Ranger Energy (RNGR) Tops Q2 Earnings and Revenue Estimates

Core Viewpoint - Ranger Energy reported quarterly earnings of $0.21 per share, significantly exceeding the Zacks Consensus Estimate of $0.06 per share, although down from $0.24 per share a year ago [1][4] Financial Performance - The company posted revenues of $138.1 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.07%, but down from $163.2 million year-over-year [2] - This quarterly report represents an earnings surprise of 250%, contrasting with a previous loss of $0.03 per share [4] - The current consensus EPS estimate for the upcoming quarter is $0.14 on revenues of $142 million, and for the current fiscal year, it is $0.32 on revenues of $557 million [10] Stock Performance - Ranger Energy shares have increased approximately 12% since the beginning of the year, compared to a 14.5% gain for the S&P 500 [3] - The company has surpassed consensus revenue estimates three times over the last four quarters [2] Earnings Outlook - The earnings outlook for Ranger Energy is currently unfavorable, leading to a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [9] - The sustainability of the stock's immediate price movement will depend on management's commentary during the earnings call [5] Industry Context - The Oil and Gas - Field Services industry, to which Ranger Energy belongs, is currently ranked in the bottom 9% of over 250 Zacks industries, suggesting potential challenges ahead [11]