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Ranger Energy Services (RNGR) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Jul 28, 2026 · Ranger Energy Services (RNGR) Q2 2026 earnings results →
Q2 2026 Revenue up 26% year over year to $176M · 4¢ of every $1 of revenue kept as net profit · operating margin 6.7%
Ranger Energy Services made $176M in Q2 2026 (+26% Y/Y): High Specification Rigs $113M, Processing Solutions and Ancillary Services $44.5M, Wireline Services $18.6M. Operating margin 6.7%, net earnings $6.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Jul 28, 2026.
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What changed this quarter
Revenue was $176.5M in Q2 2026, up 26% year over year and up 11% from the previous quarter. High Specification Rigs was the largest line at 64% of revenue. High Specification Rigs added $27.1M year over year (up 31%), 75% of the total change. Wireline Services declined 16%.
Operating profit was $11.8M, a 6.7% margin (up 0.6 points year over year). Of the extra revenue versus Q2 2025, 9% reached operating profit, above the 6% margin then. Total costs grew 25% against revenue growth of 26%. The fastest-growing cost line was Other operating costs (+44%). Net earnings were $6.9M, down 5% year over year. The effective tax rate was 33.0%.
Operating cash flow was $26.4M (up 28% year over year), 383% of net earnings. Non-cash charges added back $15.6M of depreciation and amortization and $1.7M of share-based compensation. Working capital and other items added $2.2M. After purchase of property and equipment ($6.4M), free cash flow as the company reports it was $20.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Jul 28, 2026 | $176M | +26% | 6.7% | $6.9M | $26.4M |
| Q1 2026 | 10-Q | Apr 28, 2026 | $159M | +18% | 3.2% | $3.0M | −$3.4M |
| Q4 2025 | 10-K | Mar 5, 2026 | $142M | -0.6% | 2.3% | $3.2M | $24.1M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $129M | -16% | 2.0% | $1.2M | $13.6M |
| Q2 2025 | 10-Q | Jul 29, 2025 | $141M | +2% | 6.1% | $7.3M | $20.7M |
| Q1 2025 | 10-Q | Apr 30, 2025 | $135M | -1% | 0.7% | $600K | $10.6M |
| Q4 2024 | 10-K | Mar 4, 2025 | $143M | -6% | 6.2% | $5.8M | $32.7M |
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Customers and suppliers named in filings
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About Ranger Energy Services
Ranger Energy Services, Inc. (“Ranger, Inc.,” “Ranger,” “we,” “us,” “our” 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. E&P companies that are fundamental to establishing and maintaining the flow of oil and natural gas throughout the productive life of a well. Our service offerings consist of well completion support, well workover and maintenance, wireline associated services, and other complementary services, as well as installation, commissioning and operating of modular equipment, which are conducted in three reportable segments, as follows:
In its own words, from its 10-K, filed Mar 5, 2026.
Ranger Energy Services against its Oil & Gas Field Services, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +26% against the peers' median +7%. Operating margin: 6.7% against the peers' median 6.7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| RNGR Ranger Energy Services | Q2 2026 | $176M | +26% | 6.7% |
| SLB SLB Limited | Q3 2026 | $9.4B | +6% | 10.8% |
| HAL Halliburton | Q3 2026 | $5.7B | +2% | 10.9% |
| LBRT Liberty Energy | Q3 2026 | $1.2B | +26% | 1.6% |
| OII Oceaneering International | Q3 2026 | $785M | +6% | 11.7% |
| NESR National Energy Services Reunited | Q2 2026 | $521M | +59% | 12.5% |
| ACDC ProFrac Holding | Q3 2026 | $511M | +27% | -6.7% |
| RES RPC | Q3 2026 | $468M | +5% | -11.5% |
| XPRO Expro | Q3 2026 | $440M | +7% | 1.1% |
Source: Ranger Energy Services 10-Q on SEC EDGAR · CIK 1699039 · Oil & Gas Field Services, NEC
Guidance and outlook
13F: who owns RNGR and who is buying
More on RNGR
- How Ranger Energy Services makes money: revenue by segment
- Ranger Energy Services next earnings date and what analysts expect
- Ranger Energy Services stock forecast, price target and fair value
- Who owns Ranger Energy Services stock: holders, funds and Congress trades
- Ranger Energy Services guidance and outlook
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results
- Ranger Energy Services operating margin by quarter
- Ranger Energy Services net income by quarter
- Ranger Energy Services free cash flow by quarter
- Ranger Energy Services capital expenditures by quarter
- Ranger Energy Services High Specification Rigs revenue by quarter
- Ranger Energy Services Processing Solutions and Ancillary Services revenue by quarter
- Ranger Energy Services Wireline Services revenue by quarter