Ranger Energy Services, Inc.

PERFORMANCE SUMMARY

Second quarter 2026 revenue was $176.5 million, an increase of $17.4 million from the first quarter of 2026 and an increase of $35.9 million compared to the second quarter of 2025. The sequential increase primarily reflects expanding activity levels, while the year over year increase primarily reflects the contribution of the AWS business. Cost of services was $142.7 million, or 81% of revenue, in the second quarter of 2026, compared to $115.0 million, or 82% of revenue, in the prior year period, and $130.6 million in the first quarter of 2026, also reflecting the consolidation of AWS in the more recent periods. General and administrative expenses were $7.6 million in the second quarter of 2026, compared to $7.8 million in the first quarter of 2026 and $7.0 million in the second quarter of 2025. Both the first and second quarter of 2026 included additional expenses related to the acquisition of AWS.

Net income for the second quarter of 2026 was $6.9 million, compared to $3.0 million in the first quarter of 2026 and $7.3 million in the second quarter of 2025. Fully diluted earnings per share was $0.29 for the second quarter of 2026, compared to $0.12 in the prior quarter and $0.32 in the prior year period.

Second quarter 2026 Adjusted EBITDA(1) was $28.6 million, an increase of $5.3 million from $23.3 million in the first quarter of 2026, and an increase of $8.0 million from $20.6 million in the second quarter of 2025. The improvement relative to both comparison periods was driven by stronger revenue and margins in the High Specification Rigs and Processing Solutions and Ancillary Services segments with inclusion of operating results from AWS as well as a profitable quarter in the Wireline segment.