Ranger Energy Services Reports Q1 Loss, Misses Estimates

(RTTNews) - Ranger Energy Services, Inc. (RNGR), a provider of high specification mobile rig well services, cased hole wireline services, and ancillary services in the oil and gas industry, Tuesday reported net loss of $0.8 million or $0.03 per share for the first quarter compared with profit of $6.2 million or $0.25 per share in the same quarter a year ago, primarily due to lower revenue as well increase in costs.

On average, 3 analysts polled by Thomson-Reuters expected the company to report earnings of $0.07 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter was $136.9 million, 13% down from $157.5 million last year, driven by declines in wireline completions and ancillary services.

The company's Board has declared a quarterly dividend of $0.05 per share payable on May 31, to stockholders of record on May 17.