US Market News
2月前
Ranger Energy Services, Inc. Reports First Quarter 2026 Financial ResultsApril 27, 2026 4:10 PM
Business Wire
Ranger Energy Services, Inc. (NYSE: RNGR) (“Ranger” or the “Company”) today reported its financial and operational results for the first quarter ended March 31, 2026.
First Quarter 2026 Financial and Operational Highlights
Revenue of $159.1 million, compared to $142.2 million in the fourth quarter of 2025 and $135.2 million in the first quarter of 2025
Net income of $3.0 million, or $0.12 per diluted share, compared to $3.2 million, or $0.14 per diluted share, in the fourth quarter 2025 and $0.6 million, or $0.03 per diluted share, in the first quarter of 2025
Adjusted EBITDA(1) of $23.3 million, representing an Adjusted EBITDA margin of 14.6%, compared to $20.3 million and 14.3% in the fourth quarter of 2025 and $15.5 million and 11.5% in the first quarter of 2025
Advanced AWS integration activities significantly over the first quarter of 2026 completing key transition activities including roll-out of TANGO operating system
1 “Adjusted EBITDA” is not presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). The Company defines Adjusted EBITDA as net income or loss before net income expense, income tax provision or benefit, depreciation and amortization, equity-based compensation, acquisition-related, severance and reorganization costs, gain or loss on disposal of property and equipment, and certain other non-cash items that we do not view as indicative of our ongoing performance. A non-GAAP supporting schedule is included with the statements and schedules attached to this press release and can also be found on the Company's website at: www.rangerenergy.com
Management Commentary
Stuart Bodden, Ranger’s Chief Executive Officer, commented, “Ranger ended the first quarter with strong financial results and a meaningful pick-up in activity over the past 6 weeks. As winter came to a close, operators have been increasing activity levels and conversations are trending positively. We are pleased with our first quarter performance on every front including the first full quarter of operating results from the legacy American Well Services (“AWS”) organization. Our results reflect the continued strong execution of our operations teams who maintain the highest level of safety and service quality.
“This year, we set our strategic priorities early and have meaningfully advanced them already, including the integration of AWS into the Ranger portfolio and starting the construction of fifteen ECHO Hybrid Electric Rigs that were contracted during the quarter. The AWS acquisition is driving our top and bottom line results higher, and we expect our disciplined focus on utilization, cost control, customer service and operational consistency from both organizations will continue to push margins higher in future periods.
“Our High Spec Rig segment continued its trend of strong performance during the quarter with margins over 20% and pricing that remained resilient. The expanded Ancillary segment saw improving contribution from new service lines from the AWS acquisition as well as the commencement of our new contract with the Texas Railroad Commission for Plug & Abandonment work. Wireline segment activity remains depressed, but we are encouraged with a team that is able to operate efficiently. Winter is always our most challenging quarter within Wireline and our ability to exit the first quarter with positive EBITDA suggests further improvement in the coming quarters.
“At the outset of this year, the macroeconomic sentiment and expectations for crude oil pricing remained subdued and we were braced for another flat to down year. In spite of significant commodity volatility related to geopolitical events, our customer base has generally held to a steady course of activity, which we believe will place Ranger in strong position over the remaining fiscal year to achieve our financials goals. Our production-focused business thesis is aligned with these developments, since workovers and optimization of production from existing wells present both the fastest delivery time and the lowest incremental cost for a barrel of crude oil. Additionally, our long-lived capital equipment base and domestic operations insulate us from broader international macro and supply chain pressures. As the largest well services provider in the Lower 48, we have the capacity within our fleet and organization to efficiently scale activity while preserving service quality and returns. Anticipated benefits to US production will be additive to the deployment of our ECHO rigs that will begin entering the field later this year. We believe Ranger is uniquely suited to meet any potential increase in U.S. activity levels and we are prepared to respond quickly as customer demand evolves.
“As we move further into 2026, we remain committed to disciplined capital allocation, including returning capital to shareholders and maintaining the financial strength and operational readiness to invest in high-return opportunities. Our focus remains on generating consistent free cash flow, optimizing asset utilization, and delivering durable, long-term value for our shareholders.”
CAPITAL RETURNS UPDATE
During the first quarter of 2026, the Company repurchased 38,700 shares of stock for a total value of $0.5 million, net of tax, at an average price of $16.04 per share. Since the share repurchase program’s inception in 2023 through the end of the first quarter of 2026, the Company has repurchased a total of 4,358,900 shares, for a total value of $47.7 million, net of tax. Additionally, today the Ranger Board of Directors declared this quarter’s cash dividend of $0.06 per share payable on May 22, 2026, to common stockholders of record at the close of business on May 8, 2026, reinforcing our commitment to a consistent return of capital each and every quarter.
PERFORMANCE SUMMARY
First quarter 2026 revenue was $159.1 million, an increase of $16.9 million from the fourth quarter of 2025 and an increase of $23.9 million compared to the first quarter of 2025. The sequential increase was primarily attributable to the contribution of the AWS business. Cost of services was $130.6 million, or 82% of revenue, in the first quarter of 2026, compared to $115.4 million, or 85% of revenue, in the prior year period, and $117.1 million in the fourth quarter of 2025, also reflecting the consolidation of AWS in the more recent periods. General and administrative expenses were $7.8 million in the first quarter of 2026, compared to $8.9 million in the fourth quarter of 2025 and $7.1 million in the first quarter of 2025. The fourth quarter of 2025 and first quarter of 2026 both carry additional expenses related to the acquisition of AWS.
Net income for the first quarter of 2026 was $3.0 million, compared to $3.2 million in the fourth quarter of 2025 and $0.6 million in the first quarter of 2025. Fully diluted earnings per share was $0.12 for the first quarter of 2026, compared to $0.14 in the prior quarter and $0.03 in the prior year period.
First quarter 2026 Adjusted EBITDA(1) was $23.3 million, an increase of $3.0 million from $20.3 million in the fourth quarter of 2025, and an increase of $7.8 million from $15.5 million in the first quarter of 2025. The improvement relative to both comparison periods was driven by stronger revenue and margins in the High Specification Rigs and Processing Solutions and Ancillary Services segments with a full quarter of operating results from AWS as well as a neutral profitability quarter in the Wireline segment as compared to a loss in the prior year.
BUSINESS SEGMENT FINANCIAL RESULTS
High Specification Rigs
High Specification Rigs segment revenue was $106.2 million in the first quarter of 2026, an increase of $13.9 million from $92.3 million in the fourth quarter of 2025 and an increase of $18.7 million from $87.5 million in the prior year period. Rig hours increased 13% sequentially to 145,400 from 128,500, and increased 26% year over year from 115,700. Hourly rig rates increased modestly, by 2% sequentially to $731 from $718 per hour, and decreased by 3% year over year from $756, reflecting changes in asset mix and fluctuations in idle and downtime between jobs.
Segment operating income was $10.5 million in the first quarter of 2026, a decrease of $1.5 million, or 13%, from $12.0 million in the prior quarter, and a decrease of $1.5 million, or 13%, from $12.0 million in the prior year period. Adjusted EBITDA(1) was $21.4 million, up from $19.6 million in the fourth quarter of 2025 and up from $17.4 million in the first quarter of 2025.
Processing Solutions and Ancillary Services
Processing Solutions and Ancillary Services segment revenue was $42.3 million in the first quarter of 2026, an increase of $4.8 million, or 13%, from $37.5 million in the fourth quarter of 2025, and an increase of $11.8 million, or 39%, from $30.5 million in the prior year period. The improvement relative to both comparison periods was primarily attributable to higher operational activity across several service lines, with the most significant contribution from ancillary solutions acquired in the AWS transaction.
Segment operating income was $4.1 million in the first quarter of 2026, an improvement from $2.9 million in the fourth quarter of 2025 and from $3.3 million in the prior year period. Adjusted EBITDA(1) was $8.0 million, an increase from $6.2 million in the fourth quarter of 2025 and an increase from $5.6 million in the first quarter of 2025.
Wireline Services
Wireline Services segment revenue was $10.6 million in the first quarter of 2026, a decrease of $1.8 million, or 15%, from $12.4 million in the fourth quarter of 2025, and a decrease of $6.6 million, or 38%, from $17.2 million in the prior year period. Wireline Completions reported 740 completed stages, a decrease of 51% from 1,500 in the fourth quarter of 2025 and a decrease of 47% from 1,400 stages in first quarter of 2025. The revenue and activity declines reflect the Company’s deliberate adjustment of its service mix in response to market conditions.
Segment operating loss was $2.4 million in the first quarter of 2026, an improvement of $0.3 million from an operating loss of $2.7 million in the fourth quarter of 2025, and improved from an operating loss of $5.8 million in the prior year period. Adjusted EBITDA(1) loss was $0.1 million, compared to a approximately a breakeven in the fourth quarter of 2025 and an Adjusted EBITDA loss of $2.3 million in the first quarter of 2025. Results continue to reflect pricing pressures and operating deleverage resulting from activity declines within the service line.
BALANCE SHEET, CASH FLOW AND LIQUIDITY
As of March 31, 2026, the Company had total liquidity of $42.5 million, comprised of $35.6 million of available capacity under its revolving credit facility and $6.9 million of cash on hand. This compares to total liquidity of $67.7 million as of December 31, 2025, comprised of $57.4 million of revolving credit facility capacity and $10.3 million of cash. The reduction in liquidity reflects the certain expenditures exclusive to the first quarter, as well as a buildup of working capital through the early part of the year due to billing blackout periods at year end with select customers and system transitions as related to AWS integration activities.
Cash provided by Operating Activities was $3.4 million for the first quarter of 2026, compared to $10.6 million in the same quarter 2025. Free Cash Flow(2) was negative $21.7 million for the first quarter of 2026, a decrease from $3.4 million in the prior year period, driven primarily by a growing accounts receivable due to billing delays from customer instituted black out periods at year end and system transitions related to integration.
Capital expenditures for the first quarter of 2026 totaled $18.3 million, an increase from $7.2 million in the prior year period, which included approximately $1.6 million of growth-related expenditures. Approximately $14 million of the total capital expenditures were related to our ECHO rig program milestone payments associated with the construction of the hybrid rigs to be delivered in future periods.
2 “Free Cash Flow” is not presented in accordance with U.S. GAAP and should be considered in addition to, rather than as a substitute for, net income as a measure of our performance or net cash provided by operating activities as a measure of our liquidity. The Company defines Free Cash Flow as net cash provided by operating activities before purchase of property and equipment. A Non-GAAP supporting schedule is included with the statements and schedules attached to this press release and can also be found on the Company's website at www.rangerenergy.com.
Conference Call
The Company will host a conference call to discuss its first quarter 2026 results on Tuesday, April 28, 2026, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time). Participants within the United States may access the call by dialing 1-833-255-2829; international participants may dial 1-412-902-6710. A live audio webcast will be available through the Investor Relations section of the Company’s website at www.rangerenergy.com. Participants are encouraged to join the webcast or dial in to the conference call before the scheduled start time. An audio replay will be available on the Company’s website shortly after the conclusion of the call and will remain accessible for approximately seven days.
About Ranger Energy Services, Inc.
Ranger is one of the largest providers of high specification mobile rig well services, cased hole wireline services, and ancillary services in the U.S. oil and gas industry. The Company’s services support well operations across the full lifecycle, including completion, production, maintenance, intervention, workover and abandonment phases.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements 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 other than statements of historical fact, including statements regarding strategy, future operations, financial position, estimated revenues or losses, projected costs, prospects, plans, and management objectives, are forward-looking statements. When used in this press release, the words “may,” “should,” “intend,” “could,” “believe,” “anticipate,” “estimate,” “expect,” “outlook,” “project,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements represent Ranger’s current expectations or beliefs regarding future events, and actual results may differ materially from those described herein.
Forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Ranger’s control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Therefore, you should not place undue reliance on any of the forward-looking statements contained herein. The Company’s future results will depend upon various risks and uncertainties, including but not limited to those detailed in its filings with the U.S. Securities and Exchange Commission (“SEC”), including those set forth under “Part I, Item 1A, Risk Factors” in the Company’s Annual Report on Form 10-K filed with the SEC on March 5, 2025. SEC filings are available through the Company’s website or through the SEC’s EDGAR system at www.sec.gov.
All forward-looking statements included in this press release are expressly qualified in their entirety by this cautionary statement. Any forward-looking statement speaks only as of the date on which such statement is made, and except as otherwise required by applicable law, the Company undertakes no obligation to update any forward-looking statement to reflect future events or circumstances.
RANGER ENERGY SERVICES, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except share and per share amounts)
Three Months Ended December 31,
Three Months Ended March 31,
2025
2026
2025
Revenue
High Specification Rigs
$
92.3
$
106.2
$
87.5
Wireline Services
12.4
10.6
17.2
Processing Solutions and Ancillary Services
37.5
42.3
30.5
Total revenue
142.2
159.1
135.2
Operating expenses
Cost of services (exclusive of depreciation and amortization):
High Specification Rigs
72.9
85.4
70.1
Wireline Services
12.8
10.7
20.3
Processing Solutions and Ancillary Services
31.4
34.5
25.0
Total cost of services (exclusive of depreciation and amortization)
117.1
130.6
115.4
General and administrative
8.9
7.8
7.1
Depreciation and amortization
13.8
16.2
10.6
Impairment of assets
—
—
0.4
(Gain) loss on sale of assets
(0.8
)
(0.6
)
0.7
Total operating expenses
139.0
154.0
134.2
Operating income
3.2
5.1
1.0
Other income and expenses
Interest expense, net
0.2
0.8
0.5
Other expense (income), net
(1.7
)
0.3
—
Total other expenses (income), net
(1.5
)
1.1
0.5
Income before income tax expense
4.7
4.0
0.5
Income tax expense
1.5
1.0
(0.1
)
Net income
3.2
3.0
0.6
Income per common share:
Basic
$
0.14
$
0.13
$
0.03
Diluted
$
0.14
$
0.12
$
0.03
Weighted average common shares outstanding
Basic
22,802,742
23,604,415
22,308,855
Diluted
23,228,396
24,037,021
23,111,467
RANGER ENERGY SERVICES, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions, except share and per share amounts)
March 31, 2026
December 31, 2025
Assets
Cash and cash equivalents
$
6.9
$
10.3
Accounts receivable, net
119.1
77.9
Contract assets
19.8
17.1
Inventory
3.1
3.1
Prepaid expenses and other current assets
9.7
12.5
Assets held for sale
0.3
0.3
Total current assets
158.9
121.2
Property and equipment, net
284.1
280.9
Intangible assets, net
4.7
4.9
Operating leases, right-of-use assets
10.1
11.0
Other assets
1.4
1.3
Total assets
$
459.2
$
419.3
Liabilities and Stockholders' Equity
Accounts payable
23.3
25.3
Accrued expenses
28.5
25.4
Other financing liability, current portion
0.7
0.7
Long-term debt, current portion
26.8
3.5
Short-term lease liability
10.7
11.3
Other current liabilities
5.8
3.0
Total current liabilities
95.8
69.2
Long-term lease liability
15.8
16.8
Other financing liability
9.4
9.6
Deferred tax liability
24.3
23.5
Contract liabilities
13.4
—
Other long-term liabilities
0.1
0.1
Total liabilities
$
158.8
$
119.2
Commitments and contingencies
Stockholders' equity
Preferred stock, $0.01 per share; 50,000,000 shares authorized; no shares issued and outstanding as of March 31, 2026 and December 31, 2025
—
—
Class A Common Stock, $0.01 par value, 100,000,000 shares authorized; 28,687,500 shares issued and 23,776,772 shares outstanding as of March 31, 2026; 28,435,316 shares issued and 23,563,288 shares outstanding as of December 31, 2025
0.3
0.3
Class B Common Stock, $0.01 par value, 100,000,000 shares authorized; no shares issued or outstanding as of March 31, 2026 and December 31, 2025
—
—
Less: Class A Common Stock held in treasury at cost; 4,910,728 treasury shares as of March 31, 2026 and 4,872,028 treasury shares as of December 31, 2025
(51.4
)
(50.9
)
Retained earnings
50.5
48.9
Additional paid-in capital
301.0
301.8
Total controlling stockholders' equity
300.4
300.1
Total liabilities and stockholders' equity
$
459.2
$
419.3
RANGER ENERGY SERVICES, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(in millions)
Three Months Ended March 31,
2026
2025
Cash Flows from Operating Activities
Net income
$
3.0
$
0.6
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
16.2
10.6
Equity based compensation
1.6
1.6
Gain on sale of assets
(0.6
)
0.7
Impairment of assets
—
0.4
Deferred income tax expense
0.8
(0.1
)
Change in fair value of contingent consideration
0.3
—
Other expenses
0.5
0.2
Changes in operating assets and liabilities
Accounts receivable, net
(42.4
)
1.1
Contract assets
(2.7
)
(3.1
)
Inventory
(0.1
)
(0.1
)
Prepaid expenses and other current assets
2.8
1.7
Other assets
0.8
0.6
Accounts payable
(1.5
)
(0.3
)
Accrued expenses
4.4
(2.5
)
Other current liabilities
(0.1
)
(0.7
)
Other long-term liabilities
13.6
(0.1
)
Net cash provided by (used in) operating activities
(3.4
)
10.6
Cash Flows from Investing Activities
Purchase of property and equipment
(18.3
)
(7.2
)
Proceeds from disposal of property and equipment
1.0
1.1
Net cash used in investing activities
(17.3
)
(6.1
)
Cash Flows from Financing Activities
Borrowings under Revolving Credit Facility
42.3
0.1
Principal payments on Revolving Credit Facility
(19.1
)
(0.1
)
Principal payments on financing lease obligations
(2.9
)
(1.7
)
Principal payments on other financing liabilities
(0.2
)
(0.2
)
Dividends paid to Class A Common Stock stockholders
—
(1.3
)
Shares withheld for equity compensation
(2.3
)
(1.9
)
Repurchase of Class A Common Stock
(0.5
)
—
Net cash provided by (used in) financing activities
17.3
(5.1
)
Decrease in cash and cash equivalents
(3.4
)
(0.6
)
Cash and cash equivalents, Beginning of Period
10.3
40.9
Cash and cash equivalents, End of Period
$
6.9
$
40.3
Supplemental Cash Flow Information
Interest paid
$
0.4
$
0.5
Supplemental Disclosure of Non-cash Investing and Financing Activities
Capital expenditures included in accounts payable and accrued liabilities
$
0.2
$
0.1
Additions to fixed assets through installment purchases and financing leases
$
(1.5
)
$
(1.6
)
Additions to fixed assets through asset trades
$
—
$
(0.2
)
RANGER ENERGY SERVICES, INC.
SUPPLEMENTAL NON-GAAP FINANCIAL MEASURES
(UNAUDITED)
Note Regarding Non-GAAP Financial Measure
The Company utilizes certain non-GAAP financial measures that management believes to be insightful in understanding the Company’s financial results. These financial measures, which include Adjusted EBITDA and Free Cash Flow, should not be construed as being more important than, or as an alternative for, comparable U.S. GAAP financial measures. Detailed reconciliations of these non-GAAP financial measures to comparable U.S. GAAP financial measures have been included below and are available in the Investor Relations sections of our website at www.rangerenergy.com. Our presentation of Adjusted EBITDA and Free Cash Flow should not be construed as an indication that our results will be unaffected by the items excluded from the reconciliations. Our computations of these non-GAAP financial measures may not be identical to other similarly titled measures of other companies.
Adjusted EBITDA
We believe Adjusted EBITDA is a useful performance measure because it allows for an effective evaluation of our operating performance when compared to our peers, without regard to our financing methods or capital structure. We exclude the items listed below from net income or loss in arriving at Adjusted EBITDA because these amounts can vary substantially within our industry depending upon accounting methods, book values of assets, capital structures and the method by which the assets were acquired. Certain items excluded from Adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic costs of depreciable assets, none of which are reflected in Adjusted EBITDA.
We define Adjusted EBITDA as net income or loss before net interest expense, income tax expense, depreciation and amortization, equity-based compensation, acquisition-related costs, severance and reorganization costs, gain on sale of assets, significant and unusual legal fees and settlements, impairment of assets, employee retention credit, inventory adjustment, and certain other non-cash and certain other items that we do not view as indicative of our ongoing performance.
The following tables are a reconciliation of net income or loss to Adjusted EBITDA for the respective periods, in millions:
High Specification Rigs
Wireline Services
Processing Solutions and Ancillary Services
Other
Total
Three Months Ended March 31, 2026
Net income (loss)
$
10.6
$
(2.4
)
$
4.0
$
(9.2
)
$
3.0
Interest expense, net
—
—
—
0.8
0.8
Income tax expense
—
—
—
1.0
1.0
Depreciation and amortization
10.3
2.3
3.7
(0.1
)
16.2
EBITDA
20.9
(0.1
)
7.7
(7.5
)
21.0
Equity based compensation
—
—
—
1.6
1.6
Gain on sale of assets
—
—
—
(0.6
)
(0.6
)
Acquisition related costs
0.5
—
0.3
0.2
1.0
Adjustment to contingent consideration
—
—
—
0.3
0.3
Adjusted EBITDA
$
21.4
$
(0.1
)
$
8.0
$
(6.0
)
$
23.3
High Specification Rigs
Wireline Services
Processing Solutions and Ancillary Services
Other
Total
Three Months Ended December 31, 2025
Net income (loss)
$
12.0
$
(2.7
)
$
2.9
$
(9.0
)
$
3.2
Interest expense, net
—
—
—
0.2
0.2
Income tax expense
—
—
—
1.5
1.5
Depreciation and amortization
7.4
2.3
3.2
0.9
13.8
EBITDA
19.4
(0.4
)
6.1
(6.4
)
18.7
Equity based compensation
—
—
—
1.7
1.7
Gain on sale of assets
—
—
—
(0.8
)
(0.8
)
Severance and reorganization costs
—
0.3
0.1
—
0.4
Acquisition related costs
0.2
0.1
—
1.3
1.6
Legal fees and settlements
—
—
—
0.3
0.3
Employee retention credit
—
—
—
(1.6
)
(1.6
)
Adjusted EBITDA
$
19.6
$
—
$
6.2
$
(5.5
)
$
20.3
High Specification Rigs
Wireline Services
Processing Solutions and Ancillary Services
Other
Total
Three Months Ended March 31, 2025
Net income (loss)
$
12.0
$
(5.8
)
$
3.3
$
(8.9
)
$
0.6
Interest expense, net
—
—
—
0.5
0.5
Income tax expense
—
—
—
(0.1
)
(0.1
)
Depreciation and amortization
5.4
2.7
2.2
0.3
10.6
EBITDA
17.4
(3.1
)
5.5
(8.2
)
11.6
Impairment of assets
—
—
—
0.4
0.4
Equity based compensation
—
—
—
1.5
1.5
Gain on sale of assets
—
—
—
0.7
0.7
Severance and reorganization costs
—
0.6
—
—
0.6
Acquisition related costs
—
0.2
0.1
0.1
0.4
Legal fees and settlements
—
—
—
0.3
0.3
Adjusted EBITDA
$
17.4
$
(2.3
)
$
5.6
$
(5.2
)
$
15.5
Free Cash Flow
We believe Free Cash Flow is an important financial measure for use in evaluating the Company’s financial performance, as it measures our ability to generate additional cash from our business operations. Free Cash Flow should be considered in addition to, rather than as a substitute for, net income as a measure of our performance or net cash provided by operating activities as a measure of our liquidity. Additionally, our definition of Free Cash Flow is limited and does not represent residual cash flows available for discretionary expenditures due to the fact that the measure does not deduct the payments required for debt service and other obligations or payments made for business acquisitions. Therefore, we believe it is important to view Free Cash Flow as supplemental to our entire statement of cash flows.
The following table is a reconciliation of consolidated operating cash flows to Free Cash Flow for the respective periods, in millions:
Three Months Ended
March 31, 2026
March 31, 2025
Net cash provided by operating activities
$
(3.4
)
$
10.6
Purchase of property and equipment
(18.3
)
(7.2
)
Free Cash Flow
$
(21.7
)
$
3.4
View source version on businesswire.com: https://www.businesswire.com/news/home/20260424940338/en/
Investor Contact:
Melissa Cougle
Executive Vice President and Chief Financial Officer
(713) 935-8900
InvestorRelations@rangerenergy.com
Original: Ranger Energy Services, Inc. Reports First Quarter 2026 Financial Results
US Market News
4月前
Ranger Energy Services, Inc. Reports Fourth Quarter and Full Year 2025 Financial ResultsMarch 5, 2026 6:33 AM
Business Wire
Ranger Energy Services, Inc. (NYSE: RNGR) (“Ranger” or the “Company”) today reported its financial and operational results for the fourth quarter and full year ended December 31, 2025.
Financial and Operational Highlights
Full year 2025 revenue of $546.9 million and net income of $12.3 million, or $0.54 per diluted share
Full year 2025 Adjusted EBITDA(1) of $73.2 million, representing an Adjusted EBITDA margin of 13.4%, compared to $78.9 million and 13.8% for the full year 2024
Fourth quarter 2025 Adjusted EBITDA(1) of $20.3 million, representing an Adjusted EBITDA margin of 14.3%, compared to $16.8 million in the third quarter of 2025 and $21.9 million in the fourth quarter of 2024
Fourth quarter 2025 revenue of $142.2 million, compared to $128.9 million in the third quarter of 2025 and $143.1 million in the fourth quarter of 2024
Full year 2025 Free Cash Flow(2) of $42.9 million, or $1.89 per share with returns of capital exceeding 40% of 2025 Free Cash Flow(2) through dividends and repurchases
__________________________
1
“Adjusted EBITDA” is not presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). The Company defines Adjusted EBITDA as net income or loss before net income expense, income tax provision or benefit, depreciation and amortization, equity-based compensation, acquisition-related, severance and reorganization costs, gain or loss on disposal of property and equipment, and certain other non-cash items that we do not view as indicative of our ongoing performance. A non-GAAP supporting schedule is included with the statements and schedules attached to this press release and can also be found on the Company's website at: www.rangerenergy.com
2
“Free Cash Flow” is not presented in accordance with U.S. GAAP and should be considered in addition to, rather than as a substitute for, net income as a measure of our performance or net cash provided by operating activities as a measure of our liquidity. The Company defines Free Cash Flow as net cash provided by operating activities before purchase of property and equipment. A Non-GAAP supporting schedule is included with the statements and schedules attached to this press release and can also be found on the Company's website at www.rangerenergy.com.
Management Commentary
Stuart Bodden, Chief Executive Officer of Ranger Energy Services, commented, “During the fourth quarter and throughout 2025, Ranger demonstrated the resilience that is characteristic of our business model. The Company concluded 2025 with robust cash generation and reinforced its standing as a through-cycle service provider in the oilfield services sector. Our results reflect the enduring differentiation of our production-focused strategy against a backdrop of constrained crude oil pricing and declining industry activity.
“Progress on all of our core strategic priorities in 2025 has positioned us well for continued value creation. On the growth front, we completed the acquisition of American Well Services (“AWS”), which is already meaningfully contributing to our financial performance. The transaction was executed at an extremely compelling valuation, and the acquired assets are well maintained, properly certified, and deployed with premier operators. The additional service lines that accompanied the traditional well service rigs present meaningful incremental growth opportunities for Ranger going forward.
“In 2025, we launched our next-generation ECHO Hybrid Electric Rig. The first two ECHO rigs were delivered to customers late in the year and are currently operational. Building on strong customer reception, we recently executed a contract with a key customer for the construction and deployment of 15 additional ECHO rigs. Deliveries under this contract are expected to commence in the third quarter of 2026, with full deployment anticipated by the end of 2027. We are grateful for the trust our customers have placed in this technology, and we view this commitment as a strong affirmation of the ECHO platform’s differentiated capabilities.
“We also see compelling growth potential within select Ancillary and Processing Solutions businesses. During the fourth quarter, we were awarded a significant Plug and Abandonment contract that not only provides financial benefits but also enables Ranger to serve as a trusted environmental partner to regulatory agencies. Work under this contract has commenced and represents an important expansion of our P&A service line.
“We continue to generate an exceptional level of free cash flow from operations, and our business model provides the flexibility to reinvest in organic growth initiatives such as the ECHO program, pursue strategic acquisitions, and simultaneously return meaningful capital to shareholders. In 2025, we repurchased nearly one million Ranger shares at an average price of $12.26. Combined with our regular quarterly dividend, these actions returned more than 40% of our annual free cash flow to shareholders. Following completion of the AWS transaction, we prioritized debt repayment, and the Company ended the year in a net cash position. Our balance sheet remains strong and is well positioned to support the next phase of growth.
“As we move through 2026, we are optimistic about Ranger’s continued momentum and value creation potential. Integration of the AWS business is progressing well, as we work to build a unified OneRanger culture across the combined organization. Our High Specification Rigs segment delivered a record year, achieving its highest-ever annual rig hours while sustaining strong margins. Ancillary and Wireline service lines have stabilized over recent months, and we will pursue returns-focused growth opportunities within those businesses in 2026. Notwithstanding an industry outlook characterized by activity uncertainty, Ranger is well positioned to deliver steady year-over-year improvement, driven by our differentiated service capabilities, insightful and timely strategic acquisitions, and consistent operational discipline. Safety, efficiency, cost management, and superior service quality remain the cornerstones of our operating philosophy.
“Reflecting on our accomplishments over the past year, I want to thank the employees of Ranger whose dedication and hard work make our success possible, and also extend a warm welcome to our newest colleagues from AWS, who are now an integral part of the OneRanger family. Our people are the foundation of everything we do, and we are proud to have each of you as part of our organization.”
2025 STRATEGIC ACCOMPLISHMENTS
Value creation at Ranger is underpinned by four key strategic pillars, each of which saw meaningful advancement in 2025.
A.
Maximizing Cash Flow: Ranger generated $69.0 million of Cash from Operations in 2025, net of $23.6 million in asset purchases. Free cash flow conversion remained strong relative to Adjusted EBITDA, consistent with the Company’s guidance of approximately 60%. Capital deployment decisions were rigorously evaluated against return thresholds and long-term cash generation potential.
B.
Fortifying the Balance Sheet: The Company maintained low leverage throughout 2025. Despite borrowing approximately $22 million to fund the cash consideration for the AWS acquisition, disciplined working capital management enabled the Company to end the year in a net cash position.
C.
Executing on Growth: The Company completed the acquisition of American Well Services (“AWS”) in the fourth quarter of 2025 at a compelling valuation, establishing Ranger as the largest well services provider in the Lower 48 with the largest fleet of active and available rigs in the United States. In early 2026, the Company executed a contract with a major operator for the construction and deployment of 15 additional ECHO Hybrid Electric Rigs, with deliveries scheduled between the fall of 2026 and early summer 2027.
D.
Returning Capital to Stockholders: Ranger again exceeded its commitment to return a minimum of 25% of Free Cash Flow(2) to shareholders. During 2025, the Company repurchased 994,400 shares of Class A Common Stock for an aggregate net cost of $12.3 million at an average price of $12.26 per share. Since the inception of the repurchase program in 2023, the Company has repurchased a cumulative 4,320,200 shares, representing more than 18% of shares outstanding as of December 31, 2025 for a total net cost of $47.1 million, at an average price of $10.80 per share. The Board of Directors approved a quarterly cash dividend of $0.06 per share, payable on April 6, 2026 to stockholders of record as of the close of business on March 20, 2026.
PERFORMANCE SUMMARY
Fourth quarter 2025 revenue was $142.2 million, an increase of $13.3 million from the third quarter of 2025 and a decrease of $0.9 million compared to the fourth quarter of 2024. The sequential increase was primarily attributable to the contribution of the AWS business, while the modest year-over-year decline reflected reduced activity in the Wireline Services segment. Cost of services was $117.1 million, or 82% of revenue, in the fourth quarter of 2025, approximately flat with $116.8 million, or 83% of revenue, in the prior year period, and higher than $109.1 million in the third quarter of 2025, reflecting the consolidation of AWS. General and administrative expenses were $8.9 million in the fourth quarter of 2025, compared to $6.6 million in the third quarter of 2025 and $7.1 million in the fourth quarter of 2024, with the increase driven by transaction-related costs including investment banking, legal, and diligence fees associated with the AWS acquisition.
Net income for the fourth quarter of 2025 was $3.2 million, compared to $1.2 million in the third quarter of 2025 and $5.8 million in the fourth quarter of 2024. Fully diluted earnings per share was $0.14 for the fourth quarter of 2025, compared to $0.05 in the prior quarter and $0.25 in the prior year period.
Fourth quarter 2025 Adjusted EBITDA(1) was $20.3 million, an increase of $3.5 million from $16.8 million in the third quarter of 2025, and a decrease of $1.6 million from $21.9 million in the fourth quarter of 2024. The sequential improvement was driven by stronger revenue and margins in the High Specification Rigs and Processing Solutions and Ancillary Services segments. The year-over-year decrease was primarily attributable to margin compression within the Wireline Services segment.
BUSINESS SEGMENT FINANCIAL RESULTS
High Specification Rigs
High Specification Rigs segment revenue was $92.3 million in the fourth quarter of 2025, an increase of $11.4 million from $80.9 million in the third quarter of 2025 and an increase of $5.3 million from $87.0 million in the prior year period. Rig hours increased 16% sequentially to 128,500 from 111,200, and increased 11% year over year from 115,900. Hourly rig rates declined modestly, by 1% sequentially to $718 from $727 per hour, and by 4% year over year from $751, reflecting changes in asset mix and fluctuations in idle and downtime between jobs.
Segment operating income was $12.0 million in the fourth quarter of 2025, an increase of $2.0 million, or 20%, from $10.0 million in the prior quarter, and a decrease of $1.4 million, or 10%, from $13.4 million in the prior year period. Adjusted EBITDA(1) was $19.6 million, up from $15.7 million in the third quarter of 2025 and up from $19.0 million in the fourth quarter of 2024.
Processing Solutions and Ancillary Services
Processing Solutions and Ancillary Services segment revenue was $37.5 million in the fourth quarter of 2025, an increase of $6.7 million, or 22%, from $30.8 million in the third quarter of 2025, and an increase of $4.0 million, or 12%, from $33.5 million in the prior year period. The improvement relative to both comparison periods was primarily attributable to higher operational activity across several service lines, with the most significant contribution from ancillary solutions acquired in the AWS transaction.
Segment operating income was $2.9 million in the fourth quarter of 2025, compared to $3.4 million in the third quarter of 2025 and $5.5 million in the prior year period. Adjusted EBITDA(1) was $6.2 million, an increase from $5.5 million in the third quarter of 2025 and a decrease from $8.0 million in the fourth quarter of 2024.
Wireline Services
Wireline Services segment revenue was $12.4 million in the fourth quarter of 2025, a decrease of $4.8 million, or 28%, from $17.2 million in the third quarter of 2025, and a decrease of $10.2 million, or 45%, from $22.6 million in the prior year period. Wireline Completions reported 1,500 completed stages, a decrease of 17% from 1,800 stages in both the third quarter of 2025 and the fourth quarter of 2024. The revenue and activity declines reflect the Company’s deliberate adjustment of its service mix in response to market conditions.
Segment operating loss was $2.7 million in the fourth quarter of 2025, an improvement of $1.5 million from an operating loss of $4.2 million in the third quarter of 2025, and improved from an operating loss of $3.0 million in the prior year period. Adjusted EBITDA(1) was approximately breakeven, compared to $0.4 million in the third quarter of 2025 and $0.2 million in the fourth quarter of 2024. Results continue to reflect pricing pressures and operating deleverage resulting from activity declines within the service line.
BALANCE SHEET, CASH FLOW AND LIQUIDITY
As of December 31, 2025, the Company had total liquidity of $67.7 million, comprised of $57.4 million of available capacity under its revolving credit facility and $10.3 million of cash on hand. This compares to total liquidity of $112.1 million as of December 31, 2024, comprised of $71.2 million of revolving credit facility capacity and $40.9 million of cash. The reduction in liquidity reflects the deployment of capital for the AWS acquisition.
Cash provided by Operating Activities was $69.0 million for the full year 2025, compared to $84.5 million in 2024. Full year 2025 Free Cash Flow(2) was $42.9 million, a decrease from $50.4 million in 2024, driven primarily by lower profitability in the Wireline Services segment.
Capital expenditures for 2025 totaled $26.1 million, a decrease from $34.1 million in 2024, which included approximately $9.0 million of growth-related expenditures.
Conference Call
The Company will host a conference call to discuss its fourth quarter and full year 2025 results on Thursday, March 5, 2026, at 9:00 a.m. Central Time (10:00 a.m. Eastern Time). Participants within the United States may access the call by dialing 1-833-255-2829; international participants may dial 1-412-902-6710. A live audio webcast will be available through the Investor Relations section of the Company’s website at www.rangerenergy.com. Participants are encouraged to join the webcast or dial in to the conference call before the scheduled start time. An audio replay will be available on the Company’s website shortly after the conclusion of the call and will remain accessible for approximately seven days.
Ranger management will participate in the Piper Sandler 25th Annual Energy Conference from March 16 through 18, 2026, and welcomes the opportunity to meet with investors.
About Ranger Energy Services, Inc.
Ranger is one of the largest providers of high specification mobile rig well services, cased hole wireline services, and ancillary services in the U.S. oil and gas industry. The Company’s services support well operations across the full lifecycle, including completion, production, maintenance, intervention, workover and abandonment phases.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements 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 other than statements of historical fact, including statements regarding strategy, future operations, financial position, estimated revenues or losses, projected costs, prospects, plans, and management objectives, are forward-looking statements. When used in this press release, the words “may,” “should,” “intend,” “could,” “believe,” “anticipate,” “estimate,” “expect,” “outlook,” “project,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements represent Ranger’s current expectations or beliefs regarding future events, and actual results may differ materially from those described herein.
Forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Ranger’s control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Therefore, you should not place undue reliance on any of the forward-looking statements contained herein. The Company’s future results will depend upon various risks and uncertainties, including but not limited to those detailed in its filings with the U.S. Securities and Exchange Commission (“SEC”), including those set forth under “Part I, Item 1A, Risk Factors” in the Company’s Annual Report on Form 10-K filed with the SEC on March 4, 2024. SEC filings are available through the Company’s website or through the SEC’s EDGAR system at www.sec.gov.
All forward-looking statements included in this press release are expressly qualified in their entirety by this cautionary statement. Any forward-looking statement speaks only as of the date on which such statement is made, and except as otherwise required by applicable law, the Company undertakes no obligation to update any forward-looking statement to reflect future events or circumstances.
RANGER ENERGY SERVICES, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except share and per share amounts)
Three Months
Ended
September 30,
Three Months Ended
December 31,
Year Ended
December 31,
2025
2025
2024
2025
2024
Revenue
High Specification Rigs
$
80.9
$
92.3
$
87.0
$
347.0
$
336.1
Wireline Services
17.2
12.4
22.6
68.9
110.2
Processing Solutions and Ancillary Services
30.8
37.5
33.5
131.0
124.8
Total revenue
128.9
142.2
143.1
546.9
571.1
Operating expenses
Cost of services (exclusive of depreciation and amortization):
High Specification Rigs
65.2
72.9
68.3
276.9
267.1
Wireline Services
18.6
12.8
22.9
72.4
107.3
Processing Solutions and Ancillary Services
25.3
31.4
25.6
107.3
98.4
Total cost of services (exclusive of depreciation and amortization)
109.1
117.1
116.8
456.6
472.8
General and administrative
6.6
8.9
7.1
29.6
27.8
Depreciation and amortization
11.0
13.8
10.8
46.3
44.1
Impairment of assets
—
—
—
0.4
—
Gain on sale of assets
(0.4
)
(0.8
)
(0.5
)
(1.4
)
(2.2
)
Total operating expenses
126.3
139.0
134.2
531.5
542.5
Operating income
2.6
3.2
8.9
15.4
28.6
Other income and expenses
Interest expense, net
0.4
0.2
0.5
1.2
2.6
Other income, net
(0.3
)
(1.7
)
—
(3.6
)
—
Total other expenses (income), net
0.1
(1.5
)
0.5
(2.4
)
2.6
Income before income tax expense
2.5
4.7
8.4
17.8
26.0
Income tax expense
1.3
1.5
2.6
5.5
7.6
Net income
1.2
3.2
5.8
12.3
18.4
Income per common share:
Basic
$
0.06
$
0.14
$
0.26
$
0.55
$
0.82
Diluted
$
0.05
$
0.14
$
0.25
$
0.54
$
0.81
Weighted average common shares outstanding
Basic
21,769,012
22,802,742
22,250,468
22,358,120
22,518,726
Diluted
22,082,764
23,228,396
22,920,235
22,675,249
22,852,632
RANGER ENERGY SERVICES, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions, except share and per share amounts)
December 31,
2025
December 31,
2024
Assets
Cash and cash equivalents
$
10.3
$
40.9
Accounts receivable, net
77.9
68.4
Contract assets
17.1
16.7
Inventory
3.1
5.7
Prepaid expenses and other current assets
12.5
11.4
Assets held for sale
0.3
0.8
Total current assets
121.2
143.9
Property and equipment, net
280.9
224.3
Intangible assets, net
4.9
5.6
Operating leases, right-of-use assets
11.0
7.0
Other assets
1.3
0.8
Total assets
$
419.3
$
381.6
Liabilities and Stockholders' Equity
Accounts payable
25.3
27.2
Accrued expenses
25.4
28.2
Other financing liability, current portion
0.7
0.7
Borrowings under Revolving Credit Facility
3.5
—
Short-term lease liability
11.3
8.7
Other current liabilities
3.0
0.4
Total current liabilities
69.2
65.2
Long-term lease liability
16.8
14.1
Other financing liability
9.6
10.3
Deferred tax liability
23.5
18.2
Other long-term liabilities
0.1
—
Total liabilities
$
119.2
$
107.8
Commitments and contingencies
Stockholders' equity
Preferred stock, $0.01 per share; 50,000,000 shares authorized; no shares issued and outstanding as of December 31, 2025 and December 31, 2024
—
—
Class A Common Stock, $0.01 par value, 100,000,000 shares authorized; 28,435,316 shares issued and 23,563,288 shares outstanding as of December 31, 2025; 26,130,574 shares issued and 22,252,946 shares outstanding as of December 31, 2024
0.3
0.3
Class B Common Stock, $0.01 par value, 100,000,000 shares authorized; no shares issued or outstanding as of December 31, 2025 and December 31, 2024
—
—
Less: Class A Common Stock held in treasury at cost; 4,872,028 treasury shares as of December 31, 2025 and 3,877,628 treasury shares as of December 31, 2024
(50.9
)
(38.6
)
Retained earnings
48.9
42.2
Additional paid-in capital
301.8
269.9
Total controlling stockholders' equity
300.1
273.8
Total liabilities and stockholders' equity
$
419.3
$
381.6
RANGER ENERGY SERVICES, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(in millions)
Year Ended December 31,
2025
2024
Cash Flows from Operating Activities
Net income
$
12.3
$
18.4
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
46.3
44.1
Equity based compensation
6.5
5.8
Gain on sale of assets
(1.4
)
(2.2
)
Impairment of assets
0.4
—
Deferred income tax expense
5.4
6.9
Other expenses
2.6
1.3
Changes in operating assets and liabilities
Accounts receivable, net
16.3
16.7
Contract assets
(0.4
)
1.0
Inventory
0.2
0.4
Prepaid expenses and other current assets
(1.0
)
(1.8
)
Other assets
1.9
2.1
Accounts payable
(9.8
)
(3.7
)
Accrued expenses
(7.4
)
(2.4
)
Other current liabilities
(2.7
)
(2.6
)
Other long-term liabilities
(0.2
)
0.5
Net cash provided by operating activities
69.0
84.5
Cash Flows from Investing Activities
Purchase of property and equipment
(26.1
)
(34.1
)
Proceeds from disposal of property and equipment
2.5
3.0
Purchase of business, net of cash received
(52.5
)
—
Net cash used in investing activities
(76.1
)
(31.1
)
Cash Flows from Financing Activities
Borrowings under Revolving Credit Facility
43.0
27.3
Principal payments on Revolving Credit Facility
(39.5
)
(27.3
)
Principal payments on financing lease obligations
(6.6
)
(5.7
)
Principal payments on other financing liabilities
(0.7
)
(0.6
)
Dividends paid to Class A Common Stock stockholders
(5.5
)
(4.5
)
Shares withheld for equity compensation
(2.0
)
(1.8
)
Payments on Other Installment Purchases
—
(0.1
)
Repurchase of Class A Common Stock
(12.2
)
(15.5
)
Net cash used in financing activities
(23.5
)
(28.2
)
Increase (decrease) in cash and cash equivalents
(30.6
)
25.2
Cash and cash equivalents, Beginning of Period
40.9
15.7
Cash and cash equivalents, End of Period
$
10.3
$
40.9
Supplemental Cash Flow Information
Interest paid
$
2.0
$
2.0
Supplemental Disclosure of Non-cash Investing and Financing Activities
Capital expenditures included in accounts payable and accrued liabilities
$
(0.1
)
$
0.4
Additions to fixed assets through installment purchases and financing leases
$
(8.9
)
$
(8.6
)
Additions to fixed assets through asset trades
$
(1.8
)
$
(4.2
)
Shares issued for the purchase of a business
$
(27.5
)
$
—
RANGER ENERGY SERVICES, INC.
SUPPLEMENTAL NON-GAAP FINANCIAL MEASURES
(UNAUDITED)
Note Regarding Non-GAAP Financial Measure
The Company utilizes certain non-GAAP financial measures that management believes to be insightful in understanding the Company’s financial results. These financial measures, which include Adjusted EBITDA and Free Cash Flow, should not be construed as being more important than, or as an alternative for, comparable U.S. GAAP financial measures. Detailed reconciliations of these non-GAAP financial measures to comparable U.S. GAAP financial measures have been included below and are available in the Investor Relations sections of our website at www.rangerenergy.com. Our presentation of Adjusted EBITDA and Free Cash Flow should not be construed as an indication that our results will be unaffected by the items excluded from the reconciliations. Our computations of these non-GAAP financial measures may not be identical to other similarly titled measures of other companies.
Adjusted EBITDA
We believe Adjusted EBITDA is a useful performance measure because it allows for an effective evaluation of our operating performance when compared to our peers, without regard to our financing methods or capital structure. We exclude the items listed below from net income or loss in arriving at Adjusted EBITDA because these amounts can vary substantially within our industry depending upon accounting methods, book values of assets, capital structures and the method by which the assets were acquired. Certain items excluded from Adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic costs of depreciable assets, none of which are reflected in Adjusted EBITDA.
We define Adjusted EBITDA as net income or loss before net interest expense, income tax expense, depreciation and amortization, equity-based compensation, acquisition-related costs, severance and reorganization costs, gain on sale of assets, significant and unusual legal fees and settlements, impairment of assets, employee retention credit, inventory adjustment, and certain other non-cash and certain other items that we do not view as indicative of our ongoing performance.
The following tables are a reconciliation of net income or loss to Adjusted EBITDA for the respective periods, in millions:
High Specification Rigs
Wireline Services
Processing Solutions and Ancillary Services
Other
Total
Three Months Ended December 31, 2025
Net income (loss)
$
12.0
$
(2.7
)
$
2.9
$
(9.0
)
$
3.2
Interest expense, net
—
—
—
0.2
0.2
Income tax expense
—
—
—
1.5
1.5
Depreciation and amortization
7.4
2.3
3.2
0.9
13.8
EBITDA
19.4
(0.4
)
6.1
(6.4
)
18.7
Equity based compensation
—
—
—
1.7
1.7
Gain on sale of assets
—
—
—
(0.8
)
(0.8
)
Severance and reorganization costs
—
0.3
0.1
—
0.4
Acquisition related costs
0.2
0.1
—
1.3
1.6
Legal fees and settlements
—
—
—
0.3
0.3
Employee retention credit
—
—
—
(1.6
)
(1.6
)
Adjusted EBITDA
$
19.6
$
—
$
6.2
$
(5.5
)
$
20.3
High Specification Rigs
Wireline Services
Processing Solutions and Ancillary Services
Other
Total
Three Months Ended September 30, 2025
Net income (loss)
$
10.0
$
(4.2
)
$
3.4
$
(8.0
)
$
1.2
Interest expense, net
—
—
—
0.4
0.4
Income tax expense
—
—
—
1.3
1.3
Depreciation and amortization
5.7
2.8
2.1
0.4
11.0
EBITDA
15.7
(1.4
)
5.5
(5.9
)
13.9
Equity based compensation
—
—
—
1.6
1.6
Gain on sale of assets
—
—
—
(0.4
)
(0.4
)
Severance and reorganization costs
—
0.1
—
—
0.1
Acquisition related costs
—
0.1
—
—
0.1
Legal fees and settlements
—
—
—
0.2
0.2
Employee retention credit
—
—
—
(0.3
)
(0.3
)
Inventory adjustment
—
1.6
—
—
1.6
Adjusted EBITDA
$
15.7
$
0.4
$
5.5
$
(4.8
)
$
16.8
High Specification Rigs
Wireline Services
Processing Solutions and Ancillary 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
—
—
—
2.6
2.6
Depreciation and amortization
5.3
2.7
2.4
0.4
10.8
EBITDA
18.7
(0.3
)
7.9
(6.6
)
19.7
Equity based compensation
—
—
—
1.8
1.8
Gain on sale of assets
—
—
—
(0.5
)
(0.5
)
Severance and reorganization costs
0.2
0.5
0.1
—
0.8
Acquisition related costs
0.1
—
—
—
0.1
Adjusted EBITDA
$
19.0
$
0.2
$
8.0
$
(5.3
)
$
21.9
High Specification Rigs
Wireline Services
Processing Solutions and Ancillary Services
Other
Total
Year Ended December 31, 2025
Net income (loss)
$
46.0
$
(13.9
)
$
14.1
$
(33.9
)
$
12.3
Interest expense, net
—
—
—
1.2
1.2
Income tax expense
—
—
—
5.5
5.5
Depreciation and amortization
24.1
10.4
9.6
2.2
46.3
EBITDA
70.1
(3.5
)
23.7
(25.0
)
65.3
Impairment of assets
—
—
—
0.4
0.4
Equity based compensation
—
—
—
6.5
6.5
Gain on sale of assets
—
—
—
(1.4
)
(1.4
)
Severance and reorganization costs
—
1.0
0.1
0.1
1.2
Acquisition related costs
0.2
0.6
0.1
1.4
2.3
Legal fees and settlements
—
—
—
0.8
0.8
Employee retention credit
—
—
—
(3.5
)
(3.5
)
Inventory adjustment
—
1.6
—
—
1.6
Adjusted EBITDA
$
70.3
$
(0.3
)
$
23.9
$
(20.7
)
$
73.2
High Specification Rigs
Wireline Services
Processing Solutions and Ancillary Services
Other
Total
Year Ended December 31, 2024
Net income (loss)
$
46.8
$
(8.5
)
$
17.8
$
(37.7
)
$
18.4
Interest expense, net
—
—
—
2.6
2.6
Income tax expense
—
—
—
7.6
7.6
Depreciation and amortization
22.2
11.4
8.6
1.9
44.1
EBITDA
69.0
2.9
26.4
(25.6
)
72.7
Equity based compensation
—
—
—
5.8
5.8
Gain on sale of assets
—
—
—
(2.2
)
(2.2
)
Severance and reorganization costs
0.9
0.6
0.2
0.1
1.8
Acquisition related costs
0.4
—
—
0.1
0.5
Legal fees and settlements
0.2
—
—
0.1
0.3
Adjusted EBITDA
$
70.5
$
3.5
$
26.6
$
(21.7
)
$
78.9
Free Cash Flow
We believe Free Cash Flow is an important financial measure for use in evaluating the Company’s financial performance, as it measures our ability to generate additional cash from our business operations. Free Cash Flow should be considered in addition to, rather than as a substitute for, net income as a measure of our performance or net cash provided by operating activities as a measure of our liquidity. Additionally, our definition of Free Cash Flow is limited and does not represent residual cash flows available for discretionary expenditures due to the fact that the measure does not deduct the payments required for debt service and other obligations or payments made for business acquisitions. Therefore, we believe it is important to view Free Cash Flow as supplemental to our entire statement of cash flows.
The following table is a reconciliation of consolidated operating cash flows to Free Cash Flow for the respective periods, in millions:
Three Months Ended
Year Ended
December 31, 2025
December 31, 2024
December 31, 2025
December 31, 2024
Net cash provided by operating activities
$
24.1
$
32.7
$
69.0
$
84.5
Purchase of property and equipment
(7.0
)
(5.4
)
(26.1
)
(34.1
)
Free Cash Flow
$
17.1
$
27.3
$
42.9
$
50.4
View source version on businesswire.com: https://www.businesswire.com/news/home/20260304931062/en/
Investor Contact:
Melissa Cougle
Executive Vice President and Chief Financial Officer
(713) 935-8900
InvestorRelations@rangerenergy.com
Original: Ranger Energy Services, Inc. Reports Fourth Quarter and Full Year 2025 Financial Results
Mr. Bill
23年前
RNGR .04(3) x .07(1). Got 15K avgd @ .056. MMs ran from .05 ASK
o Working on financing and acquisitions.
o CEO/assocs have put $600K+ into the company.
o 3 to 6 month timetable to close acquisitions then PRs
o Future estimated annual profit of $4,000,000
o Future estimated EPS of 4M/20M = .20 cents x 10 = $2 stock
o The company used $9M CASH to acquire BumGarner oil & gas rights
o CEO has2/3rds of the shares, converted BumGarner to RNGR.
o Company has 4.3M shares bought at $2 a share
o CEO is a HIGHLY motivated primary share holder
o Tradeable float TINY, 500K to 900K per CEO and filings
o Company has issued approx 99% of auth shares.
o CEO would be most hurt by dilution
o Low production costs yielding a 50% profit
o Some oil wells yield Natural Gas as well, win / win scenario
o Working on acquisitions of active wells as well
o No web site, to follow after wells are flowing
o CEO and associates have $600,000 INVESTED in the company
o CEO said when they have good news will be agressive with PRs
o CEO said would release a PR in conjunction with SEC 8Ks
o CEO answers the phone at 8:10 AM EST in St Pete, Florida
o CEO deferring about 50% of salary at current time
I talked with Charles Masters/CEO Tue & Wed at 8:10 AM EST.
727-381-4904 St Pete, Florida.
Yesterday I went for 17K at .05 and got TWO 5K fills:
Trades and Level II. 10K of 17.6K Filled at .05 cents
NITE .02 x .05 -> .03 x .08 on 5K fill
HILL .03 x .05 -> .04 x .07 on 5K fill
SCHB .04 x .06 -> .04 x .20 NEXT up at .06 and RAN HARD
RANGER INDUSTRIES - Nasdaq OTC BB: RNGR
Time & Sales most recent
Rec. Time Action Price Volume Exch.
1:38:30 PM Trade 0.05 5000
1:38:02 PM Ask 0.07 5000
1:38:02 PM Trade 0.05 5000
L2 After: RNGR - RANGER INDS INC Company Profile
LastSale: 0.05
BestBid: 0.04 Best BidDepth: 15000
BestAsk: 0.07 Best AskDepth: 5000
MPID Bid Size Ask Size U O/C
CARR 0.04 5000 0.32 5000 O
SCHB 0.04 5000 0.2 5000 O
HILL 0.04 5000 0.07 5000 O
NITE 0.03 5000 0.08 5000 O
FRAN 0.01 5000 0.1 5000 O
GVRC 0.01 5000 2 500 O
MHMY 0.01 5000 2.01 500 O
WELS - 0 - 0 O
L2 Before:
RNGR - RANGER INDS INC Company Profile
LastSale: -
BestBid: 0.04 Best BidDepth: 10000
BestAsk: 0.05 Best AskDepth: 10000
MPID Bid Size Ask Size U O/C
CARR 0.04 5000 0.32 5000 O
SCHB 0.04 5000 0.06 5000 O
HILL 0.03 5000 0.05 5000 O
NITE 0.02 5000 0.05 5000 O
FRAN 0.01 5000 0.1 5000 O
GVRC 0.01 5000 2 500 O
MHMY 0.01 5000 2.01 500 O
WELS - 0 - 0 O
http://www.gonow.com/filing.php?repo=tenk&ipage=2086050&doc=1&total=52&back=2
________________________________________________________________
o State the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practicable date (March 26, 2003) 15,610,463
shares. Common Stock, $0.0l par value
________________________________________________________________
o On May 8, 2000, an order of the United States Bankruptcy Court became final
and non-appealable which authorized the trustee of the product liability trust
(i) to obtain insurance covering claims made against the product liability
trust, and (ii) after paying $1,156,000 for the insurance premiums, to make a
cash distribution to Ranger of all of the remaining funds in the product
liability trust other than $600,000 which remained in the product liability
trust to pay the administrative expenses of the product liability trust. The net
distribution was made in May 2000 and Ranger received $11,002,632.
________________________________________________________________
o Charles G. Masters, the principal shareholder of Bumgarner, acquired 11,401,000 shares of Ranger common stock (including 400,000 shares held through a trust of which he is the trustee);
o George Ruppell 1,000,000 shares
o Robert Sherman Jent, Director, Secretary 100,000 shares
________________________________________________________________
4. Oil and gas properties (continued):
The standardized measure of discounted future net cash flows is computed by
applying prices of oil and gas ($25/bbl and $3.50/mcf, respectively, with
no escalation) to the estimated future production of proved oil and gas
reserves, less estimated future expenditures (based on year-end costs) to
be incurred in developing and producing the proved reserves, less estimated
future income tax expenses (based on year-end statutory tax rates, with
consideration of future tax rates already legislated) to be incurred on
pretax net cash flows less tax basis of the properties and available
credits, and assuming continuation of existing economic conditions. The
estimated future net cash flows are then discounted using a rate of 10% a
year to reflect the estimated timing of the future cash flows.
Oil Gas
(MBbls) (MMcf)
------- ------
Beginning of year:
Proved, developed reserves - -
======== ========
Proved, undeveloped reserves 232 2,801
======== ========
End of year:
Proved, developed reserves - -
======== ========
Proved, undeveloped reserves 232 2,801
======== ========
Standardized measure of discounted future net cash flows at December 31,
2002:
Henryetta
------------
Future cash inflows $ 11,599,427
Future production costs ( 391,300)
Future development costs ( 394,810)
Future income tax expenses ( 3,676,528)
------------
Future net cash flows 7,136,789
10% annual discount for estimated timing
of cash flows ( 1,699,042)
------------
Standardized measures of discounted future net
cash flows relating to proved oil and gas
reserves at beginning and end of period $ 5,437,747
============
Ranger share of Henryetta JV at 74.415% (net after taxes) $ 4,046,499
________________________________________________________________
http://table.finance.yahoo.com/d?a=0&b=01&c=2000&d=4&e=28&f=2003&g=d&s=r...
May-27-03 0.05 0.05 0.05 0.05 10,000 0.05
May-15-03 0.05 0.05 0.05 0.05 100 0.05
May-01-03 0.04 0.04 0.04 0.04 300 0.04
Apr-15-03 0.04 0.04 0.04 0.04 100 0.04
Apr-14-03 0.04 0.04 0.04 0.04 100 0.04
Mar-27-03 0.04 0.04 0.04 0.04 200 0.04
Dec-26-02 0.04 0.04 0.04 0.04 200 0.04
Dec-13-02 0.04 0.04 0.04 0.04 5,000 0.04
Dec-09-02 0.04 0.04 0.04 0.04 1,000 0.04
Dec-02-02 0.04 0.04 0.04 0.04 100 0.04
Nov-21-02 0.04 0.04 0.04 0.04 500 0.04
Nov-19-02 0.03 0.03 0.03 0.03 6,000 0.03
Nov-14-02 0.04 0.04 0.04 0.04 2,000 0.04
Nov-04-02 0.05 0.05 0.05 0.05 10,000 0.05
Oct-25-02 0.10 0.10 0.07 0.07 35,000 0.07
Oct-15-02 0.10 0.10 0.10 0.10 3,200 0.10
Oct-11-02 0.15 0.15 0.10 0.10 5,200 0.10
Sep-30-02 0.10 0.10 0.10 0.10 200 0.10
Aug-26-02 0.10 0.10 0.10 0.10 1,300 0.10
Aug-21-02 0.10 0.10 0.10 0.10 200 0.10
Aug-07-02 0.10 0.10 0.10 0.10 200 0.10
Jul-25-02 0.10 0.10 0.10 0.10 200 0.10
Jun-26-02 0.11 0.11 0.11 0.11 1,100 0.11
Jun-25-02 0.11 0.11 0.11 0.11 3,000 0.11
Jun-14-02 0.11 0.11 0.11 0.11 200 0.11
Jun-10-02 0.11 0.11 0.11 0.11 13,200 0.11
Jun-07-02 0.11 0.11 0.11 0.11 400 0.11
Jun-05-02 0.16 0.16 0.16 0.16 2,000 0.16
May-22-02 0.15 0.15 0.15 0.15 5,000 0.15
May-03-02 0.15 0.15 0.15 0.15 400 0.15
Apr-15-02 0.15 0.15 0.15 0.15 100 0.15
Mar-25-02 0.15 0.15 0.15 0.15 600 0.15
Mar-22-02 0.15 0.15 0.15 0.15 900 0.15
Mar-18-02 0.15 0.15 0.15 0.15 600 0.15
Feb-20-02 0.15 0.15 0.15 0.15 300 0.15
Feb-11-02 0.15 0.15 0.15 0.15 500 0.15
Feb-08-02 0.15 0.15 0.15 0.15 100 0.15
Jan-16-02 0.15 0.15 0.15 0.15 400 0.15
Jan-08-02 0.15 0.15 0.15 0.15 4,800 0.15
Dec-21-01 0.15 0.15 0.15 0.15 400 0.15
Dec-19-01 0.15 0.15 0.15 0.15 400 0.15
Dec-18-01 0.20 0.20 0.20 0.20 1,200 0.20
Dec-06-01 0.15 0.15 0.15 0.15 200 0.15
Dec-04-01 0.15 0.15 0.15 0.15 15,000 0.15
Dec-03-01 0.15 0.15 0.15 0.15 2,000 0.15
Nov-29-01 0.15 0.15 0.15 0.15 500 0.15
Oct-25-01 0.20 0.20 0.20 0.20 4,100 0.20
Oct-04-01 0.15 0.15 0.15 0.15 1,000 0.15
Sep-24-01 0.15 0.15 0.15 0.15 1,500 0.15
Sep-19-01 0.20 0.20 0.19 0.19 28,000 0.19
Sep-07-01 0.20 0.20 0.20 0.20 300 0.20
Sep-05-01 0.22 0.22 0.22 0.22 6,000 0.22
Aug-31-01 0.25 0.25 0.25 0.25 10,100 0.25
Aug-24-01 0.26 0.30 0.26 0.30 10,600 0.30
Aug-22-01 0.29 0.29 0.29 0.29 5,000 0.29
Aug-21-01 0.36 0.36 0.31 0.33 22,100 0.33
Aug-20-01 0.35 0.45 0.35 0.45 30,400 0.45
Aug-08-01 0.30 0.30 0.30 0.30 1,100 0.30
Aug-02-01 0.30 0.30 0.30 0.30 800 0.30
Jun-26-01 0.35 0.35 0.35 0.35 1,900 0.35
Jun-20-01 0.30 0.30 0.30 0.30 100 0.30
Jun-18-01 0.30 0.30 0.30 0.30 7,700 0.30
May-23-01 0.40 0.40 0.40 0.40 1,000 0.40
May-21-01 0.40 0.40 0.40 0.40 1,000 0.40
May-18-01 0.40 0.40 0.40 0.40 2,000 0.40
May-01-01 0.40 0.40 0.40 0.40 200 0.40
Apr-25-01 0.30 0.30 0.30 0.30 4,600 0.30
Apr-23-01 0.42 0.42 0.30 0.30 21,000 0.30
Apr-19-01 0.37 0.37 0.37 0.37 400 0.37
Apr-11-01 0.37 0.37 0.37 0.37 100 0.37
Apr-04-01 0.38 0.38 0.38 0.38 1,000 0.38
Mar-23-01 0.38 0.38 0.38 0.38 400 0.38
Mar-22-01 0.38 0.38 0.38 0.38 1,000 0.38
Mar-20-01 0.38 0.38 0.38 0.38 1,000 0.38
Mar-19-01 0.47 0.47 0.47 0.47 2,900 0.47
Mar-14-01 0.38 0.38 0.38 0.38 400 0.38
Mar-12-01 0.41 0.56 0.38 0.38 10,800 0.38
Mar-07-01 0.41 0.41 0.41 0.41 1,700 0.41
Mar-06-01 0.41 0.41 0.41 0.41 200 0.41
Mar-01-01 0.56 0.56 0.56 0.56 900 0.56
Feb-28-01 0.50 0.56 0.50 0.56 12,800 0.56
Feb-23-01 0.72 0.72 0.72 0.72 700 0.72
Feb-21-01 0.62 0.62 0.52 0.56 22,000 0.56
Feb-20-01 0.66 0.66 0.62 0.62 11,800 0.62
Feb-16-01 0.66 0.66 0.66 0.66 2,200 0.66
Feb-15-01 0.75 0.75 0.66 0.66 2,100 0.66
Feb-14-01 1.19 1.19 0.62 0.62 60,400 0.62
Feb-13-01 1.25 1.25 1.19 1.19 1,700 1.19
Feb-07-01 1.31 1.31 1.25 1.25 4,600 1.25
Feb-06-01 1.88 1.88 1.31 1.31 18,500 1.31
Jan-29-01 1.81 1.95 1.81 1.95 14,100 1.95
Jan-25-01 1.94 1.94 1.94 1.94 400 1.94
Jan-24-01 1.91 1.91 1.81 1.81 51,500 1.81
Jan-23-01 1.69 1.69 1.69 1.69 200 1.69
Jan-22-01 1.69 1.69 1.69 1.69 500 1.69
Jan-19-01 1.75 1.75 1.75 1.75 15,000 1.75
Jan-18-01 1.78 1.78 1.78 1.78 1,000 1.78
Jan-17-01 1.69 1.69 1.69 1.69 300 1.69
Jan-16-01 1.69 1.69 1.69 1.69 1,500 1.69
Jan-12-01 1.69 1.69 1.69 1.69 100 1.69
Jan-09-01 1.78 1.78 1.72 1.75 51,500 1.75
Jan-08-01 1.81 1.81 1.78 1.78 13,100 1.78
Jan-04-01 1.84 1.84 1.84 1.84 16,500 1.84
Jan-02-01 1.88 1.89 1.81 1.81 16,000 1.81
Dec-29-00 1.88 1.88 1.84 1.84 29,100 1.84
Dec-28-00 1.75 1.88 1.75 1.88 8,600 1.88
Dec-27-00 1.69 1.75 1.69 1.75 5,100 1.75
Dec-26-00 1.59 1.69 1.59 1.69 17,400 1.69
Dec-22-00 1.50 1.53 1.50 1.53 6,900 1.53
Dec-21-00 1.50 1.50 1.50 1.50 14,100 1.50
Dec-20-00 1.50 1.53 1.50 1.50 43,200 1.50
Dec-19-00 1.53 1.53 1.50 1.50 10,700 1.50
Dec-13-00 1.53 1.53 1.53 1.53 8,500 1.53
Dec-07-00 1.56 1.56 1.56 1.56 200 1.56
Dec-05-00 1.56 1.56 1.56 1.56 1,500 1.56
Dec-04-00 1.50 1.50 1.50 1.50 100 1.50
Nov-30-00 1.53 1.53 1.50 1.53 2,900 1.53
Nov-29-00 1.50 1.50 1.44 1.44 5,300 1.44
Nov-28-00 1.50 1.50 1.50 1.50 13,400 1.50
Nov-27-00 1.33 1.33 1.33 1.33 4,400 1.33
Nov-24-00 1.50 1.50 1.31 1.41 17,500 1.41
Nov-22-00 1.50 1.50 1.50 1.50 8,000 1.50
Nov-21-00 1.50 1.50 1.50 1.50 4,000 1.50
Nov-15-00 1.50 1.50 1.50 1.50 4,000 1.50
Nov-13-00 1.50 1.50 1.50 1.50 9,200 1.50
Nov-10-00 1.50 1.50 1.50 1.50 14,200 1.50
Nov-09-00 1.50 1.50 1.50 1.50 3,100 1.50
Nov-03-00 1.50 1.50 1.50 1.50 400 1.50
Oct-31-00 1.50 1.50 1.50 1.50 6,200 1.50
Oct-30-00 1.50 1.50 1.50 1.50 400 1.50
Oct-27-00 1.50 1.50 1.50 1.50 4,500 1.50
Oct-25-00 1.50 1.50 1.50 1.50 15,200 1.50
Oct-19-00 1.50 1.50 1.50 1.50 2,000 1.50
Oct-18-00 1.59 1.59 1.59 1.59 500 1.59
Oct-17-00 1.53 1.53 1.50 1.53 4,900 1.53
Oct-16-00 1.56 1.59 1.56 1.59 5,500 1.59
Oct-13-00 1.50 1.50 1.50 1.50 2,900 1.50
Oct-06-00 1.50 1.50 1.50 1.50 4,900 1.50
Oct-02-00 1.47 1.50 1.47 1.50 8,300 1.50
Sep-29-00 1.50 1.50 1.44 1.47 40,000 1.47
Sep-28-00 1.44 1.44 1.44 1.44 500 1.44
Sep-26-00 1.44 1.44 1.44 1.44 100 1.44
Sep-25-00 1.44 1.44 1.44 1.44 200 1.44
Sep-20-00 1.44 1.44 1.44 1.44 7,000 1.44
Sep-19-00 1.44 1.44 1.44 1.44 14,500 1.44
Sep-15-00 1.50 1.50 1.41 1.47 21,000 1.47
Sep-13-00 1.47 1.50 1.47 1.50 18,000 1.50
Sep-06-00 1.53 1.53 1.47 1.47 20,200 1.47
Sep-01-00 1.56 1.56 1.56 1.56 5,000 1.56
Aug-31-00 1.50 1.59 1.47 1.59 17,300 1.59
Aug-29-00 1.56 1.59 1.53 1.53 38,800 1.53
Aug-25-00 1.56 1.56 1.56 1.56 15,000 1.56
Aug-24-00 1.56 1.56 1.56 1.56 33,600 1.56
Aug-23-00 1.56 1.56 1.56 1.56 24,100 1.56
Aug-11-00 1.56 1.56 1.56 1.56 1,000 1.56
Aug-10-00 1.56 1.56 1.56 1.56 500 1.56
Aug-09-00 1.56 1.56 1.56 1.56 200 1.56
Aug-07-00 1.56 1.56 1.56 1.56 600 1.56
Aug-01-00 1.56 1.56 1.56 1.56 1,000 1.56
Jul-27-00 1.56 1.56 1.56 1.56 700 1.56
Jul-25-00 1.56 1.56 1.56 1.56 100 1.56
Jul-21-00 1.56 1.56 1.56 1.56 1,000 1.56
Jul-17-00 1.56 1.56 1.56 1.56 200 1.56
Jul-10-00 1.56 1.56 1.56 1.56 300 1.56
Jul-07-00 1.56 1.56 1.56 1.56 47,100 1.56
Jun-28-00 1.56 1.56 1.56 1.56 300 1.56
Jun-22-00 1.53 1.53 1.53 1.53 5,000 1.53
Jun-21-00 1.53 1.53 1.53 1.53 100 1.53
Jun-14-00 1.53 1.62 1.53 1.56 3,800 1.56
Jun-13-00 1.56 1.56 1.56 1.56 5,000 1.56
Jun-05-00 1.53 1.53 1.53 1.53 5,000 1.53
Jun-02-00 1.53 1.53 1.53 1.53 1,600 1.53
Jun-01-00 1.53 1.53 1.53 1.53 900 1.53
May-31-00 1.53 1.53 1.53 1.53 6,000 1.53
May-30-00 1.50 1.53 1.50 1.53 18,800 1.53
May-25-00 1.50 1.50 1.50 1.50 1,000 1.50
May-24-00 1.31 1.31 1.31 1.31 200 1.31
May-23-00 1.38 1.38 1.38 1.38 1,600 1.38
May-22-00 1.44 1.44 1.44 1.44 5,500 1.44
May-19-00 1.44 1.44 1.44 1.44 100 1.44
May-18-00 1.50 1.50 1.50 1.50 4,000 1.50
May-17-00 1.50 1.50 1.50 1.50 100 1.50
May-11-00 1.50 1.50 1.50 1.50 1,000 1.50
May-10-00 1.31 1.62 1.31 1.50 5,500 1.50
May-09-00 1.19 1.19 1.19 1.19 200 1.19
May-08-00 1.25 1.38 1.25 1.25 5,700 1.25
May-04-00 1.50 1.50 1.50 1.50 1,600 1.50
May-02-00 1.31 1.31 1.31 1.31 100 1.31
May-01-00 1.50 1.50 1.38 1.38 8,400 1.38
Apr-25-00 1.59 1.59 1.50 1.59 5,200 1.59