Ranger Energy Services, Inc. Announces Q3 2025 Results & Acquisition of American Well Services

Core Viewpoint - Ranger Energy Services, Inc. reported its Q3 2025 results, highlighting a revenue decline and the acquisition of American Well Services, which is expected to enhance its market position and growth opportunities [1][4]. Financial Performance - Revenue for Q3 2025 was $128.9 million, a 16% decrease from $153.0 million in Q3 2024 and an 8% decrease from $140.6 million in Q2 2025 [5][11]. - Net income was $1.2 million, or $0.05 per diluted share, compared to $8.7 million, or $0.39 per diluted share in Q3 2024, and $7.3 million, or $0.32 per diluted share in Q2 2025 [5][13]. - Adjusted EBITDA was $16.8 million, representing a 13% margin, down from $20.6 million in Q2 2025 and $25.1 million in Q3 2024 [5][14]. - Free Cash Flow for the quarter was $8.0 million, or $0.37 per share, with total liquidity of $116.7 million at the end of the quarter [5][22]. Acquisition Details - The acquisition of American Well Services, a provider in the Permian Basin, is expected to create additional growth opportunities and enhance Ranger's service offerings [4][6]. - The combined entity will become the largest well services provider in the Lower 48 states, leveraging advanced technology [6]. Shareholder Returns - The company repurchased 667,500 shares for $8.3 million in Q3 2025, bringing total capital returns for the year to $15.6 million [5][10]. - A cash dividend of $0.06 per share was declared, reinforcing the commitment to return capital to shareholders [10]. Segment Performance - High Specification Rigs segment revenue was $80.9 million, down from $86.7 million in Q3 2024, with rig hours decreasing to 111,200 [16]. - Wireline Services segment revenue fell to $17.2 million, a 43% decline from $30.3 million in the prior year [20]. - Processing Solutions and Ancillary Services segment revenue was $30.8 million, down 14% from $36.0 million in the prior year [18]. Balance Sheet and Liquidity - As of September 30, 2025, total liquidity was $116.7 million, consisting of $71.5 million available on the revolving credit facility and $45.2 million in cash [22]. - The company had no borrowings under its loan facility as of the end of Q3 2025 [22].