Ranger Energy sees FY23 revenue $685M-$715M, consensus $669.27M

Sees FY23 adjusted EBITDA $95M-$105M. Sees FY23 free cash flow $55M-$70M. Sees FY23 capital expenditures $25M-$35M. The company said, "The Company’s full-year 2023 guidance reflects revenue growth and improved Adjusted EBITDA margins resulting from efforts to improve asset utilization and operating efficiency. The Company expects full-year 2023 free cash flow conversion to be approximately 60%. Capital expenditures and leases will be utilized to reactivate idle assets, refresh fleet assets and complete ongoing rig maintenance, at a cost of approximately 4 – 5% of revenue. A summary of Company guidance follows and is current as of the time provided and subject to change."