My friend has a 2003, 2WD, 2.3 liter Ford Ranger. It has ABS on all four wheels. One of the front wheel's studs is stripped, such that it is impossible to apply torque to its lug nut. I replaced the wheel stud as described below.

Main Tools
19mm (3/4-inch) socket for lug nuts.
Sockets needed to remove the brake caliper and its bracket: 14mm and 15mm.
Socket needed to remove and later torque the spindle nut (axle nut): 27mm (= 1 1/16 inch). The nut is normally so loose that for removal, any large pair of pliers should be fine.
Lug nut torque is 100 ft-lbs. Autozone loans torque wrenches.
Autozone has new wheel studs for a few dollars each. Thread is 1/2 inch diameter x 20 pitch.

Main Steps
Loosen the brake reservoir cap.
Slightly loosen the five lug nuts (19mm socket) while all four of the Ranger's wheels are still on the ground.
Jack up the quadrant of the Ranger on whose wheel and brakes you will work, and put it on a jack stand. See the lifting points video below.
Remove the lug nuts.
Remove the two 14mm brake caliper bolts.
Remove the brake caliper.
Remove the two 15mm bolts that hold the brake caliper bracket and pads in place.
Remove the brake caliper bracket and pads.
Set the brake caliper and bracket on an inverted bucket or milk crate, leaving the brake hose still attached.
Remove the hub cap by prying with a screwdriver.
Remove the cotter pin.
Remove the serrated "set cover."
Remove the large lock nut (should be almost hand loose and covered with grease). A 27mm (1 1/16-inch) socket fits.
The rotor should now come off easily.
Remove the washer.
Remove the otbd, tapered roller bearing.
On the inbd side of the rotor is the ABS sensor's tone ring. Remove it by pounding on the wheel studs evenly. See video below. The wheel studs and then ABS sensor ring free pretty easily.
Clean the tone ring. White vinegar is highly effective at removing rust.
Pound the new wheel studs into place.
Tap the inner circumference of the tone ring to fit it in place. See detail below.
Continue as described at https://www.fordforumsonline.com/thr...bearing.8884/:
4X2:
Inspect the front disc brake hub and rotor for cracks or other damage. Replace as necessary.
If necessary, install the inner bearing cone and roller and a new grease seal in the front disc brake hub and rotor.
Position the front disc brake hub and rotor on the front hub.
Install the front wheel bearing.
Install the front wheel outer bearing retainer washer.
Install the hub spindle nut. Tighten the hub spindle nut to 23-34 Nm (17-25 ft lb) while rotating the front disc brake hub and rotor, back off 120-180° and retighten to 2.0-2.3 Nm (18-20 lb-in) .
Without changing the position of the hub spindle nut, install the nut retainer, cotter pin and hub grease cap.
Install the disc brake caliper and front disc brake caliper bracket. You may have to compress the two brake pad pistons a bit.
Install the tire and wheel assembly. Tighten the lugnuts to 114-141 Nm (85-105 ft lb).
Tighten the brake reservoir cap.
Lower the vehicle. Test the brakes.

Details: Lifting Points

Details: Video Showing How To Remove the Front Brake Rotor
The video says it is for non-ABS Rangers, but I found it was still correct for a Ranger with ABS:

Details: ABS Tone Ring Replacement
Once the rotor is off, to gain access to the wheel studs (inbd ends), you have to remove the ABS tone ring on the inbd side of the rotor:



The ABS tone ring is also known as the "reluctor"; "ABS exciter ring"; "ABS sensor ring"; and similar names. The part number is F47Z-2C182-A. It seems to be widely available. It costs about $20 brand new. Before removing the ABS tone ring, use a machinist's ruler to measure how far the ring's otbd surface is from the rotor. (Pass the ruler through any of the slots in the ring until it hits the rotor. My ring's otbd surface sat 1 7/32 inch from the rotor.) I was concerned about locating the tone ring correctly because the ABS sensor will only work if the gap between the ring and the ABS sensing device is correct. Here's a video showing how to remove the ABS tone ring without damaging it. You simply pound on the wheel studs evenly so the studs push the ring off:

To re-install the ABS tone ring, first re-install the wheel studs. Then tap the ABS tone ring's inner circumference with a hammer evenly all around.

Details: Videos Showing How To Re-Install the Otbd Bearing
Here are two great videos on re-installing the bearing. Note the special steps for applying torque in a few steps, to pre-load and seat the bearing correctly:
In particular, first torque to 20 ft-lbs (240 inch-lbs) or 17 to 25 ft-lbs. Spin while torquing. Back off the nut half a turn. Re-tighten, but only to 18 to 20 inch-lbs (not ft-lbs). See also: