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Ranger Energy Services Second Quarter 2024 Earnings: EPS Beats Expectations

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6 months ago

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Ranger Energy Services (NYSE:RNGR) Second Quarter 2024 Results

Main financial results

  • Revenue: $138.1 million (down 15% from Q2 2023).

  • Net income: US$4.70 million (down 23% from Q2 2023).

  • Profit margin: 3.4% (down from 3.7% in Q2 2023). The reduction in margin was driven by lower revenue.

  • EPS: US$0.21 (down from US$0.25 in 2Q 2023).

earnings-and-revenue-growth

All numbers shown in the chart above are for the trailing 12 month period (TTM)

Ranger Energy Services EPS exceeds expectations

Revenue was in line with analysts’ estimates. Earnings per share (EPS) beat analysts’ estimates.

Looking ahead, revenue is forecast to grow by an average of 7.4% per year over the next 2 years, compared to a 7.4% growth forecast for the US energy services sector.

Performance of the United States energy services sector.

The company’s shares are up 15% over the past week.

Risk analysis

It is still necessary to consider the ever-present specter of investment risk. We have identified 2 warning signs with Ranger Energy Servicesand understanding them should be part of your investment process.

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This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts using only an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock and does not take into account your objectives or financial situation. Our aim is to bring you long-term focused analysis, driven by fundamental data. Please note that our analysis may not take into account the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch directly with us. Alternatively, send an email editorial-team@simplywallst.com

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