The company said, “Ranger remains bullish on the long-term opportunities and growth potential for the Company. Our High Specification Rigs business is expected to grow modestly year over year despite continuing to hold the view that operator activity levels are likely to remain flat during 2024. Our Processing and Ancillary Services segment is still anticipated to show very modest year over year growth as well, although this will largely be dependent on customer behavior at the end of this year. Despite depressed margins and activity levels in both January and February, March results showed significant revenue and margin improvements. Our expectation is that consolidated April results will continue to show increasing strength on the top line with resumption of our historical margin averages and this trend will continue through the summer months and into the fall. Strong conversion of EBITDA to Free Cash Flow through effective capital expense management will continue to provide a strong return of capital to Ranger shareholders during the year.”