RNGR · 10-Q · 2026Q1 · Full report

Revenue Performance and Mix

Ranger Energy Services, Inc. · 2026-04-28 · Importance 81 · Surprise 76

Total revenue increased 18% year‑over‑year to $159.1 million, driven primarily by gains in High Specification Rigs and Processing Solutions and Ancillary Services tied to the November 2025 AWS acquisition. High Specification Rigs revenue rose $18.7 million (21%) to $106.2 million — the change included $26.3 million of AWS‑related revenue and higher rig hours (145,400 vs. 115,700). Wireline Services revenue declined $6.6 million (38%) to $10.6 million, reflecting a 47% drop in completed stage counts to 740 and lower completion, production and pump down activity. Processing Solutions and Ancillary Services revenue grew $11.8 million (39%) to $42.3 million, with $13.4 million of that increase related to AWS.

Key facts

• Adjusted EBITDA for the three months ended March 31, 2026 was $23.3 million compared to $15.5 million for the three months ended March 31, 2025, an increase of $7.8 million.
• High Specification Rigs Adjusted EBITDA increased $4.0 million to $21.4 million for the three months ended March 31, 2026 from $17.4 million for the three months ended March 31, 2025.
• Processing Solutions and Ancillary Services Adjusted EBITDA increased $2.4 million to $8.0 million for the three months ended March 31, 2026 from $5.6 million for the three months ended March 31, 2025.
• Wireline Services Adjusted EBITDA improved by $2.2 million to a loss of $0.1 million for the three months ended March 31, 2026 from a loss of $2.3 million for the three months ended March 31, 2025.
• Wireline Services completion services revenue decreased by $3.2 million for the three months ended March 31, 2026 compared to the prior-year period.
• Wireline Services production services revenue decreased by $2.3 million and pump down services revenue decreased by $1.1 million for the three months ended March 31, 2026 compared to the prior-year period.

Impact estimates