Ranger Energy Services Inc
For the period ended Sep 30, 2024. Filed Oct 28, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 28, 2024
RNGR$11.25-9.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(in millions)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash Flows from Operating Activities | ||
| Net income | $12.6 | $21.7 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 33.3 | 29.3 |
| Equity based compensation | 4.2 | 3.6 |
| Gain on disposal of property and equipment | (1.7) | (1.6) |
| Impairment of fixed assets | — | 0.4 |
| Deferred income tax expense | 4.7 | 4.8 |
| Loss on debt retirement | — | 2.4 |
| Other expense, net | 0.6 | 2.3 |
| Changes in operating assets and liabilities | ||
| Accounts receivable | 3.3 | 0.1 |
| Contract assets | (6.0) | (8.7) |
| Inventory | 0.6 | (2.0) |
| Prepaid expenses and other current assets | 3.6 | 0.6 |
| Other assets | 1.4 | 1.2 |
| Accounts payable | (1.5) | 8.3 |
| Accrued expenses | (2.5) | (7.7) |
| Other current liabilities | (1.9) | — |
| Other long-term liabilities | 1.1 | (1.6) |
| Net cash provided by operating activities | 51.8 | 53.1 |
| Cash Flows from Investing Activities | ||
| Purchase of property and equipment | (28.7) | (27.9) |
| Proceeds from disposal of property and equipment | 1.5 | 4.9 |
| Net cash used in investing activities | (27.2) | (23.0) |
| Cash Flows from Financing Activities | ||
| Borrowings under Revolving Credit Facility | 25.3 | 315.6 |
| Principal payments on Revolving Credit Facility | (25.3) | (308.1) |
| Principal payments on financing lease obligations | (4.2) | (4.0) |
| Principal payments on Secured Promissory Note | — | (6.2) |
| Principal payments on other financing liabilities | (0.5) | (0.7) |
| Principal payments on Eclipse M&E Term Loan Facility | — | (10.4) |
| Dividends paid to Class A Common Stock shareholders | (3.4) | (1.2) |
| Shares withheld for equity compensation | (1.8) | (1.0) |
| Payments on Other Installment Purchases | (0.1) | (0.3) |
| Repurchase of Class A Common Stock | (15.5) | (8.6) |
| Deferred financing costs on Wells Fargo | — | (0.7) |
| Net cash used in financing activities | (25.5) | (25.6) |
| Increase (decrease) in cash and cash equivalents | (0.9) | 4.5 |
| Cash and cash equivalents, Beginning of Period | 15.7 | 3.7 |
| Cash and cash equivalents, End of Period | $14.8 | $8.2 |
| Supplemental Cash Flow Information | ||
| Interest paid | $1.4 | $1.0 |
| Supplemental Disclosure of Non-cash Investing and Financing Activities | ||
| Capital expenditures included in accounts payable and accrued liabilities | $0.6 | $— |
| Additions to fixed assets through installment purchases and financing leases | $(5.0) | $(5.6) |
| Additions to fixed assets through asset trades | $(4.4) | $(1.1) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.