Ranger Energy Services, Inc. Announces Q4 2020 Results
HOUSTON--(BUSINESS WIRE)--Ranger Energy Services, Inc. (NYSE: RNGR) (“Ranger” or the “Company”) announced today its results for its fiscal quarter ended December 31, 2020.
Overall revenues improved 20%, or $7 million vs Q3
High Spec Rig revenues grew 50% on increased utilization and pricing strength
Despite 2020’s challenges, Ranger returned $26 million of operating cash flow across the year while reducing long-term debt by nearly 50%
Consolidated Financial Highlights
Revenues increased $6.9 million, or 20%, to $41.5 million in Q4, from $34.6 million in Q3. Revenue increases took place in the High Specification Rigs segment.
Net loss increased $1.0 million, from a net lo
