Ranger Energy Services Inc (NYSE:RNGR)
$ 10.48 0.24 (2.34%) Market Cap: 239.82 Mil Enterprise Value: 244.82 Mil PE Ratio: 15.28 PB Ratio: 0.89 GF Score: 69/100
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Q2 2020 Ranger Energy Services Inc Earnings Call Transcript

Jul 24, 2020 / 02:00PM GMT
Release Date Price: $2.91 (-3.32%)
Operator

Good morning, and welcome to the Ranger Energy Second Quarter 2020 Conference Call. (Operator Instructions) Please note, this event is being recorded. I would now like to turn the conference over to Darron Anderson, Chief Executive Officer. Please go ahead.

Darron M. Anderson
Ranger Energy Services, Inc. - President, CEO & Director

Thank you, operator. Good morning, and welcome to Ranger Energy Services Second Quarter 2020 Earnings Conference Call. Joining me today is Brandon Blossman, our CFO, who will offer his comments in a moment.

When we last spoke, Ranger was in the midst of materially rightsizing our business to match the needs of the market. As we sit here today, I will consider the results of that effort to have been very successful.

If you recall, at the time of our May 1 earnings call, we had already reduced our headcount by 50%, taken across-the-board pay cut, shut down 2 unutilized operating locations and initiated a number of other cost savings initiatives. Triggering these difficult decisions early provided a tremendous

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