Thank you, everyone. morning, and good
quarter to earnings We you are pleased welcome to our second XXXX call.
We regroup start performance ultimately in to in more taking bold the happy lines some banded the challenging The report and focused year. company. service a team second exercising but Ranger quarter, after are others very in patients and the together emerging action to to second areas, stronger functions strong a across quarter and
reflect which of outstanding activity business, for our declines. a results in despite reached of broader most the and strength to quarter Specification High with Ranger's watermark and was consistency new which cycles margins example illustrative able revenue second along out topside The the growth. is high Our maintain inherent model, this spending business Rig production-focused ride
that We behave belief to as continue have business oilfield a services company. most doesn't a our of firmly-held the traditional same way
been count have the are with of frac past year-over-year lines over conditions several difficult over declining following by showing rig market XX% U.S. service While our XX suit, onshore activity months, the improvement. and
for P&A processing. more service market for driven consolidated including lines, along with for production a high-growth work, spending some such is consistent lines factors profile several by as gas improvement service This and and rationalized space backdrop tide a
in question, does appreciate also value transactions to differentiated that consolidation with of the Ranger. is ] Ranger's quality. and who ties deepened customers, what recent have In consolidating E&P [ strengthen regularly the space, presented light We service and to Ranger feel we means
fragmented believe population while space more records. E&P run, number the most the being ties work an vendor consolidation the reducing characterized are with that customer also over relationships interested a of has Ranger provider their of who historically long was in acquirers, trend, smaller We strengthened by in preferred position the has reducing placed with consolidation our in players. a quality removing and of consistent, service maintain companies and safety and This total and superior who enviable
building we of of earnings Our to excited second continue the momentum quarter in the quarter. have, third are an we is on potential relationships customer the indication that and strength our
Our confidence shareholders in repurchases, which the through our power return of capital have of the evidenced Ranger consistent the continued year. dividend program best and base to throughout earnings our share continued is through
the so have in second of of XX. in of year, returned shareholders. to capital X.X compelling this Since stock We a believe current quarter XX% shares we the been nearly of nearly repurchased XX% shares our total the shares market million June return free own our the repurchasing have Since of investment, cash and returns have open of nearly program, million have outstanding year. shareholder last we inception inception we shares our purchased represents opportunistically our X.X as flow framework or
attractive provide more of results will me that of such in our and an conviction valuation is level Melissa profile. more Ranger There detailed in commentary some few minutes, industry the with small to this highlight no past quarter. notable company for has other with but returns commitment a our let capital
will over Spec in discuss Wireline first meaningful a which the Ancillary company improvements segment, decline a Total second our $XXX.X was High with revenue in moment. by segments, quarter million, during and I increase Rigs the offset in quarter a slight
million, the double over $XX X than of XX%, was quarter results nearly market higher pressures. a years, in EBITDA in substantially improved first mark EBITDA to any the past our remarkable quarter margins adjusted recent of on which that back Our a light achievement is
Our past leadership efficiency increase are across we the and this and efforts initiative exciting pushed bearing for years. lines who for This level promote of cross-pollination every are seeing at service fruit, is company. synergies to on have of more team, the hard the couple
at have huge Further, and day, level each members, team embraced who superior Spirit our and a service goes One performance safety truly over on every X,XXX insisting execute credit Ranger an our and quality. to exceptional
tough responsible a environment. of forward pushing for are Ranger factors All matter in these and
on this High pleased couldn't quarter. segment, Rig we Focusing be with more Specification our performance this
prove with together exposed and revenue us resilient. remarkably relationships line $XX. to in allowing post pricing strong this both demand, of increases record EBITDA hours majority top is to quarter, million resulted $XX.X in continues and X adjusted business focus to customer record The that Consistent services, of strategic of and our million. rig production-related
customers as grow. more are drilled to the U.S. total as plugged, are Ranger's and note, long to often wells value we As its continues than market being our being in addressable
In in highest a the coiled notable by tubing, second particularly results lines, the tripled second we and the several back after first the XX% reverted this Processing future our million, more adjusted record. first quarter bounce and and Ancillary quarter achieved over EBITDA challenging service We on in margin a the We norms historical revenue XX% our quarter. of and Services, quarter are by increased of which saw business. earnings $X.X encouraged to potential nearly to
began revenue programs for as EBITDA posting seasonality record pursuing Our P&A line abated strong winter and strong P&A their rebound more a year. the business also margins second customers aggressively had adjusted numbers, exhibiting the in and quarter, top
its year. grow contribution also to field revenues Although market, exposure seen contributor, to service excited gas the we line service line Ranger. Torrent we branded our have to are generation fast-growing it a This conditioning from and the small processing earlier see power in and double to continue has
has business. years have been X X with time the and lower of Wireline grown we been over what Concluding widespread commoditized with this years offerings. to past intermittent and service space X by marked increasingly wireline technology differentiated The at availability volatility. have and segment, more was significant our entry the challenges performance of The transparent about barriers past completion
the bottom and thing wireline we this do Ranger focused than we believe can the chase production for At is Perf. rather best that our the offering for point, in to turnaround price stay to on Plug hoping
As strategy. many say, is not hope a
prior wireline outlined, complete. of fruit, work shift restructuring Our largely efforts the now that a recently real more have line. our they production-focused traction are top bearing and we in seen is We quarter series mentioned been and have on to
past seen restructuring, results more have stable the we of of and a couple months, moderating In backdrop. this the along with market
uptick in segment to in we pleased have Ranger's dramatically the be has to and our We this diminished. this contribution segment, production line over recent results most service been with been clear, year report line. are our margin for overall month's ever highest has But to pleased the revenue past top its changed and
contribution We but go steady in completions to future do see revenue before to quite the expect quarters, increases historical modest is replaces wireline although a it work. from there ways
by into the encouraged are moving trends year. half seeing are the of second we we forward, Looking
on our will Rig based strong this High looking with perform well activity, modest incremental to segment believe continue seasonal Specification is quarter quarter third and The we that growth.
will believe us declines in as but a well. look to cost the we leaner strength emerge coming indicators fourth Processing the it the during repositioning this periods, operating call. worst continued segment during structure, proven unpredictable Ancillary This quarter with our in forward thoughts regarding behind Services quarters. is the update while segment our stronger year-end market next much has and We the our investors of All of wireline to and support
did ago, and our conversion, through and than evidenced strategic shareholders creating results and remain acquisition, our as believe of In pristine returning dividends business have year margin maintaining to long-term through record-setting we fundamentally we capital pillars resilient some for X value stronger, in repurchases. our cash maximizing summary, focused our lines. on shareholders more profile sheet share flow a service by growing based We today balance a substantial on we
is compelling our because at think trading we shares current We valuation repurchased particularly levels.
proposition market. I rewarded sector ultimately over call emerged the and to customer differentiated more this that, from to Melissa and period would continue now the like the shine be to activity detail on financial value will Ranger's give turn As results. by With rebounds, challenging to our
