$RNGR
Ranger Energy Services, Inc.

2023 Q3 Form 10-Q Financial Statement

#000169903923000128 Filed on October 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q3
Revenue $164.4M
YoY Change -7.12%
Cost Of Revenue $134.8M
YoY Change -2.39%
Gross Profit $29.60M
YoY Change -23.91%
Gross Profit Margin 18.0%
Selling, General & Admin $7.000M
YoY Change -36.36%
% of Gross Profit 23.65%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.60M
YoY Change -1.85%
% of Gross Profit 35.81%
Operating Expenses $17.60M
YoY Change -19.27%
Operating Profit $11.70M
YoY Change -35.0%
Interest Expense $700.0K
YoY Change -61.11%
% of Operating Profit 5.98%
Other Income/Expense, Net -$700.0K
YoY Change -30.0%
Pretax Income $11.00M
YoY Change -35.29%
Income Tax $1.600M
% Of Pretax Income 14.55%
Net Earnings $9.400M
YoY Change -30.88%
Net Earnings / Revenue 5.72%
Basic Earnings Per Share $0.38
Diluted Earnings Per Share $0.38
COMMON SHARES
Basic Shares Outstanding 24.50M shares
Diluted Shares Outstanding 24.89M shares

Balance Sheet

Concept 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.200M
YoY Change 57.69%
Cash & Equivalents $8.200M
Short-Term Investments
Other Short-Term Assets $9.600M
YoY Change -45.76%
Inventory $7.700M
Prepaid Expenses $8.600M
Receivables $89.90M
Other Receivables $0.00
Total Short-Term Assets $151.0M
YoY Change -6.79%
LONG-TERM ASSETS
Property, Plant & Equipment $234.8M
YoY Change 3.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.200M
YoY Change 0.0%
Total Long-Term Assets $242.5M
YoY Change -1.5%
TOTAL ASSETS
Total Short-Term Assets $151.0M
Total Long-Term Assets $242.5M
Total Assets $393.5M
YoY Change -3.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.60M
YoY Change -11.17%
Accrued Expenses $29.60M
YoY Change -12.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $10.30M
YoY Change -66.12%
Total Short-Term Liabilities $79.60M
YoY Change -26.3%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change -100.0%
Other Long-Term Liabilities $14.30M
YoY Change 85.71%
Total Long-Term Liabilities $14.30M
YoY Change -30.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $79.60M
Total Long-Term Liabilities $14.30M
Total Liabilities $113.0M
YoY Change -24.92%
SHAREHOLDERS EQUITY
Retained Earnings $27.60M
YoY Change -5620.0%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $280.5M
YoY Change
Total Liabilities & Shareholders Equity $393.5M
YoY Change -3.6%

Cashflow Statement

Concept 2023 Q3
OPERATING ACTIVITIES
Net Income $9.400M
YoY Change -30.88%
Depreciation, Depletion And Amortization $10.60M
YoY Change -1.85%
Cash From Operating Activities $12.20M
YoY Change 14.02%
INVESTING ACTIVITIES
Capital Expenditures $15.00M
YoY Change -600.0%
Acquisitions
YoY Change
Other Investing Activities $200.0K
YoY Change -97.26%
Cash From Investing Activities -$14.80M
YoY Change -444.19%
FINANCING ACTIVITIES
Cash Dividend Paid $1.200M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.400M
YoY Change -129.53%
NET CHANGE
Cash From Operating Activities 12.20M
Cash From Investing Activities -14.80M
Cash From Financing Activities 4.400M
Net Change In Cash 1.800M
YoY Change 1700.0%
FREE CASH FLOW
Cash From Operating Activities $12.20M
Capital Expenditures $15.00M
Free Cash Flow -$2.800M
YoY Change -120.44%

Facts In Submission

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<div style="margin-bottom:6pt;margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 1 — Organization and Business Operations </span></div><div style="margin-bottom:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Business</span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ranger Energy Services, Inc. (“Ranger, Inc.,” “Ranger,” “we,” “us” or the “Company”) is a provider of onshore high specification well service rigs, wireline services, and additional processing solutions and ancillary services in the United States (“U.S.”). The Company provides an extensive range of well site services to leading U.S. exploration and production (“E&amp;P”) companies that are fundamental to establishing and maintaining the flow of oil and natural gas throughout the productive life of a well. </span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our service offerings consist of well completion support, workover, well maintenance, wireline, and other complementary services, as well as installation, commissioning and operating of modular equipment, which are conducted in three reportable segments, as follows:</span></div><div style="margin-bottom:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">High Specification Rigs</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Provides high specification well service rigs and complementary equipment and services to facilitate operations throughout the lifecycle of a well.</span></div><div style="margin-bottom:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Wireline Services. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Provides services necessary to bring and maintain a well on production and consists of our wireline completion, wireline production, and pump down lines of business.</span></div><div style="margin-bottom:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Processing Solutions and Ancillary Services. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Provides other services often utilized in conjunction with our High Specification Rigs and Wireline Services segments. These services include equipment rentals, plug and abandonment, logistics, snubbing and coil tubing, and processing solutions.</span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s operations take place in most of the active oil and natural gas basins in the U.S., including the Permian Basin, Denver-Julesburg Basin, Bakken Shale, Eagle Ford Shale, Haynesville Shale, Gulf Coast, South Central Oklahoma Oil Province and Sooner Trend, Anadarko Basin, and Canadian and Kingfisher Counties plays.</span></div><div style="margin-bottom:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Organization</span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ranger, Inc. was incorporated as a Delaware corporation in February 2017. Ranger, Inc. is a holding company, and its sole assets consist of membership interests in RNGR Energy Services, LLC, a Delaware limited liability company (“Ranger LLC”). Ranger LLC owns all of the outstanding equity interests in Ranger Energy Services, LLC (“Ranger Services”) and Torrent Energy Services, LLC (“Torrent Services”), and the other subsidiaries through which it operates its assets. Ranger LLC is the sole managing member of Ranger Services and Torrent Services, and is responsible for all operational, management and administrative decisions relating to Ranger Services, its subsidiaries, and Torrent Services’ business and consolidates the financial results of Ranger Services, its subsidiaries, and Torrent Services.</span></div>
us-gaap Number Of Reportable Segments
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us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:6pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenue and expenses during the reporting period. Management uses historical and other pertinent information to determine these estimates. Actual results could differ from such estimates. </span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Areas where critical accounting estimates are made by management include:</span></div><div style="margin-bottom:6pt;padding-left:45pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Depreciation and amortization of property and equipment and intangible assets;</span></div><div style="margin-bottom:6pt;padding-left:45pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Impairment of property and equipment and intangible assets;</span></div><div style="margin-bottom:6pt;padding-left:45pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Revenue recognition; </span></div><div style="margin-bottom:6pt;padding-left:45pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Income taxes; and</span></div><div style="margin-bottom:6pt;padding-left:45pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Equity-based compensation.</span></div>
CY2023Q3 us-gaap Assets Held For Sale Not Part Of Disposal Group Current
AssetsHeldForSaleNotPartOfDisposalGroupCurrent
1000000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
1800000 usd
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
-200000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
1600000 usd
CY2023Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
394600000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
385500000 usd
CY2023Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
188000000.0 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
167200000 usd
CY2023Q3 us-gaap Construction In Progress Gross
ConstructionInProgressGross
18400000 usd
CY2022Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
3300000 usd
CY2023Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
225000000.0 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
221600000 usd
CY2023Q3 us-gaap Depreciation
Depreciation
10400000 usd
CY2022Q3 us-gaap Depreciation
Depreciation
10500000 usd
us-gaap Depreciation
Depreciation
28700000 usd
us-gaap Depreciation
Depreciation
33200000 usd
us-gaap Increase Decrease In Assets Held For Sale
IncreaseDecreaseInAssetsHeldForSale
600000 usd
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
400000 usd
CY2023Q3 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
400000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4900000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4300000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6500000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
7100000 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
200000 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
300000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
600000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
600000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
700000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
700000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
700000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
700000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
600000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingAfterYearFive
3100000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6500000 usd
CY2023Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1000000.0 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
500000 usd
CY2023Q3 rngr Accrued Payables Current
AccruedPayablesCurrent
14600000 usd
CY2022Q4 rngr Accrued Payables Current
AccruedPayablesCurrent
15900000 usd
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
12600000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
12500000 usd
CY2023Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
1800000 usd
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
2100000 usd
CY2023Q3 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
600000 usd
CY2022Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
5600000 usd
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
29600000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
36100000 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
3400000 usd
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
3300000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
13000000.0 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
10000000.0 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
800000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1100000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
2400000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
2200000 usd
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
700000 usd
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
700000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
2300000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
1900000 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y8M12D
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M12D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.082
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.079
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3300000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
3400000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
3000000.0 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
2300000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
200000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
12200000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1700000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
10500000 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2500000 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8000000.0 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
2700000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1500000 usd
CY2023Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
500000 usd
CY2022Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
200000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1100000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
600000 usd
CY2023Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1300000 usd
CY2022Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1100000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
4000000.0 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
3400000 usd
CY2023Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y1M6D
CY2022Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y4M24D
CY2023Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.052
CY2022Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.026
CY2023Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
4700000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
3300000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
1700000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
800000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
10500000 usd
CY2023Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
1200000 usd
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
9300000 usd
CY2023Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
4000000.0 usd
CY2023Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
5300000 usd
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
10300000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
18400000 usd
CY2023Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
10300000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
6800000 usd
CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
0 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
11600000 usd
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
6200000 usd
rngr Payments On Installment Purchases
PaymentsOnInstallmentPurchases
300000 usd
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.38
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Rolling Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths
10300000 usd
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
10300000 usd
CY2023Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
35000000 usd
CY2023Q1 us-gaap Stock Repurchase Program Period In Force1
StockRepurchaseProgramPeriodInForce1
P36M
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.200
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.116
rngr Texas Margin Tax Maximum Statutory Effective Rate
TexasMarginTaxMaximumStatutoryEffectiveRate
0.0075
us-gaap Net Income Loss
NetIncomeLoss
7500000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9400000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13600000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
21700000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
7500000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
9400000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
13600000 usd
us-gaap Net Income Loss
NetIncomeLoss
21700000 usd
us-gaap Net Income Loss
NetIncomeLoss
7500000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
9400000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
13600000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
21700000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
7500000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24500607 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24845517 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24758890 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22323308 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
386668 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
338550 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
390525 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
314149 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24887275 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25184067 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25149415 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22637457 shares
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.55
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.88
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.38
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.54
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.86
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2023Q3 us-gaap Revenues
Revenues
164400000 usd
CY2023Q3 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
134800000 usd
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
10600000 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
11700000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
9400000 usd
CY2023Q3 rngr Capital Expenditures
CapitalExpenditures
17200000 usd
us-gaap Revenues
Revenues
485100000 usd
us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
402000000.0 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
29300000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
32300000 usd
us-gaap Net Income Loss
NetIncomeLoss
21700000 usd
rngr Capital Expenditures
CapitalExpenditures
34600000 usd
CY2022Q3 us-gaap Revenues
Revenues
177000000.0 usd
CY2022Q3 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
138100000 usd
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
10800000 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
18000000.0 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
13600000 usd
us-gaap Revenues
Revenues
454200000 usd
us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
376100000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
33800000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
10600000 usd
us-gaap Net Income Loss
NetIncomeLoss
7500000 usd
rngr Capital Expenditures
CapitalExpenditures
12900000 usd

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