RANGER ENERGY SERVICES Reports Record Second Quarter Earnings Results for FY2023
August 12, 2023
☀️Earnings Overview
RANGER ENERGY SERVICES ($NYSE:RNGR) announced on June 30 2023 that their total revenue for the second quarter of FY2023 was USD 163.2 million, a 6.2% increase from the year before. Additionally, net income was reported at USD 6.1 million, compared to a net loss of -0.4 million in the same period of the previous year.
Share Price
The company’s stock opened at $10.5 and closed at $10.4, down by 0.9% from its previous closing price of 10.5. This is attributed to the company’s focus on cost control and streamlining of its operations. Further, the company’s focus on maximizing its profitability in the form of improved efficiency and effective capital utilization has also played a major role in its improved performance. The company’s focus on cost control and streamlining of its operations has been a major factor in its improved performance and profitability. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for RNGR. More…
| Total Revenues | Net Income | Net Margin |
| 652 | 33.5 | 4.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for RNGR. More…
| Operations | Investing | Financing |
| 77.6 | -5.1 | -71.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for RNGR. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 364.8 | 90.8 | 11.14 |
Key Ratios Snapshot
Some of the financial key ratios for RNGR are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 33.2% | 17.9% | 7.1% |
| FCF Margin | ROE | ROA |
| 8.7% | 10.6% | 7.9% |
Analysis
At GoodWhale, we recently conducted an analysis of the financials of RANGER ENERGY SERVICES. Our analysis showed that the company had a very high health score of 8/10, indicating that it is in a strong financial position and is capable of paying off its debt and funding future operations. RANGER ENERGY SERVICES was classified by us as a ‘cheetah’ company; these are companies that have achieved high revenue or earnings growth but are generally considered less stable due to their lower profitability. This makes them an attractive investment for investors who are looking for potential capital gain in a short period of time. On the other hand, RANGER ENERGY SERVICES is strong in terms of asset, growth and medium in terms of profitability. However, its dividend payment is considered as weak. This means that it may not be an ideal option for investors who are looking for regular income from dividend payments. More…
Peers
The competition between Ranger Energy Services Inc and its competitors, STEP Energy Services Ltd, Enerflex Ltd, and Pressure Technologies PLC, has been intense over the years. These companies have been vying for a larger share of the market, each offering unique solutions to the energy production and services industry.
– STEP Energy Services Ltd ($TSX:STEP)
STEP Energy Services Ltd is a Canadian oilfield services company that provides pressure pumping, coiled tubing, and other services for the oil and gas industry. With a market cap of 375.21M as of 2022, STEP Energy Services has been able to remain competitive in the energy services sector. The company has an impressive Return on Equity (ROE) of 25.21%, which is well above the industry average of 11.34%. This strong ROE showcases the company’s ability to use its resources effectively and generate profits for shareholders.
– Enerflex Ltd ($TSX:EFX)
Enerflex Ltd is a global provider of natural gas compression, processing, and power generation solutions. The company has a market capitalization of 1.05 billion as of 2022, making it a large-cap stock. Its return on equity of 1.32% indicates that it is able to generate healthy returns on shareholder investments. The company offers products and services across the entire energy value chain, from wellhead to burner tip, for both conventional and unconventional resources. In addition, Enerflex provides engineering, fabrication, installation, commissioning and maintenance services for its customers.
– Pressure Technologies PLC ($LSE:PRES)
Pressure Technologies PLC is a specialist engineering group that develops and manufactures high pressure and flow control components, systems, and services for the oil and gas, defence, industrial gases, and medical sectors. With a market cap of 14.5M as of 2022, the company has been struggling to maintain a healthy level of profitability. Its Return on Equity (ROE) is -24.33%, meaning that for every $1 of assets it has, it is only generating -24.33 cents of net income. This indicates that the company is currently unable to generate profits from its investments.
Summary
Ranger Energy Services reported impressive second quarter results for FY2023 with total revenue increasing 6.2% year-over-year to USD 163.2 million. Net income was reported at USD 6.1 million compared to the net loss of -0.4 million the year prior, showing a dramatic reversal in fortunes. This makes it an attractive option for investors, particularly those looking for a company with strong revenue growth and an improved financial position. The future looks promising for Ranger Energy Services and investors should consider this stock as a potential investment opportunity.
Related Posts
Recent Posts
