RPC Inc (RES)

RPC, Inc. Announces CEO Succession PlanJune 23, 2026 4:15 PM
PR Newswire (US) Ben M. Palmer to retire following distinguished 30-year career with RPC, including as President and CEO since 2022Board initiates search for CEO to lead RPC's next chapterATLANTA, June 23, 2026 /PRNewswire/ -- RPC, Inc. (NYSE: RES) ("RPC" or the "Company"), a leading diversified oilfield services company, today announced that Ben M. Palmer plans to retire from his role as President and CEO, and step down from the Board of Directors of RPC by the end of 2026, following 30 years with the Company. Accordingly, the Board of Directors has initiated a search for Mr. Palmer's successor, which is expected to conclude before the end of 2026. Mr. Palmer will continue serving in his role until the earlier of a successor being named or December 31, 2026, after which he will remain in an advisory capacity to ensure continuity and support a smooth leadership transition. Mr. Palmer has served as President and CEO of RPC since 2022, following more than two decades as Chief Financial Officer and Treasurer beginning in 1996. For 30 years, Mr. Palmer has helped guide RPC through multiple industry dynamics with a consistent emphasis on preserving a strong, low-leverage balance sheet, generating durable free cash flow, and returning capital to shareholders. As CEO, he has also overseen the continued diversification and balancing of RPC's portfolio toward higher-margin services lines, deepened the Company's presence in the Permian Basin, and delivered profitability and long-term shareholder value."On behalf of the entire Board of Directors, I want to thank Ben for his excellent leadership, as well as his partnership, over the course of his three decades with the Company," said Richard A. Hubbell, Executive Chairman of the Board of RPC. "Ben has been instrumental across every corner of RPC, strengthening our financial foundation, advancing our strategic priorities, and positioning the Company to compete effectively in the dynamic oilfield services sector. Under his leadership as CEO, and as our longtime CFO and Treasurer before that, RPC has expanded into attractive service lines and preserved the flexibility needed to unlock future growth opportunities."The Board of Directors has initiated a formal search to identify RPC's next CEO and intends to engage a leading independent search firm to assist in the process. The search will focus on candidates who have a proven record of operational excellence in oilfield services combined with a focus on growth, while maintaining the financial strength RPC is known for.Patrick J. Gunning, Lead Independent Director of RPC, commented, "This transition is a product of the Board's careful approach to succession planning. Over the coming months, we look forward to engaging in a comprehensive search to appoint a leader who will build on RPC's diversified platform well into the future. Ben's commitment to assist with the transition will help ensure continuity for our employees, customers, and shareholders every step of the way."Mr. Palmer concluded, "It has been the privilege of my professional life to spend the last 30 years at RPC alongside such a talented and dedicated team. Together we have built a strong, diversified company that has steadily evolved in the dynamic oilfield industry, while investing in our people, our customer service, and our long-term future. I believe this is the right moment for RPC to transition to its next generation of executive leadership. I am pleased to continue in my role and work closely with the Board and our great people to complete a smooth handoff to our next CEO."About RPC, Inc.RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of America, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets. RPC's investor website can be found on the internet at RPC.net.Forward Looking StatementsCertain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements that look forward in time or express management's beliefs, expectations or hopes regarding future prospects. In particular, such statements include, without limitation, the Company's expectations regarding its leadership transition. Risk factors that could cause such future events not to occur as expected include the following: the Company's ability to successfully manage its leadership transition; the price of oil and natural gas and overall performance of the U.S. economy, both of which can impact capital spending by our customers and demand for our services; the impact of tariffs, which may increase our cost of materials and impact our profitability; business interruptions due to adverse weather conditions; changes in the competitive environment of our industry, including the potential impact of the recent U.S. actions in Iran and Venezuela, including without limitation the impacts of the blockade of the Strait of Hormuz; political instability in the petroleum-producing regions of the world; the actions of the OPEC oil cartel; our customers' drilling and production activities; and our ability to identify, complete and successfully integrate acquisitions and/or other strategic investments or transactions. Additional factors that could cause the actual results to differ materially from management's projections, forecasts, estimates, and expectations are contained in RPC's Form 10-K for the year ended December 31, 2025.For information about RPC, Inc., please contact:
Joshua Large
Vice President, Corporate Finance and Investor Relations
(404) 321-2152
jlarge@rpc.netMichael L. Schmit
Chief Financial Officer
(404) 321-2140
irdept@rpc.net View original content to download multimedia:https://www.prnewswire.com/news-releases/rpc-inc-announces-ceo-succession-plan-302808106.htmlSOURCE RPC, Inc. Original: RPC, Inc. Announces CEO Succession Plan

RPC, Inc. Reports First Quarter 2026 Financial ResultsMay 7, 2026 6:45 AM
PR Newswire (US) ATLANTA, May 7, 2026 /PRNewswire/ -- RPC, Inc. (NYSE: RES) ("RPC" or the "Company"), a leading diversified oilfield services company, announced its unaudited results for the first quarter ended March 31, 2026.Non-GAAP and adjusted measures may include, adjusted operating income, adjusted net income, adjusted net income margin, adjusted earnings per share (diluted), EBITDA and adjusted EBITDA, adjusted EBITDA margin, and free cash flow which are reconciled to the most directly comparable GAAP measures in the appendices of this earnings release.Sequential comparisons are to 4Q:25. The Company believes quarterly sequential comparisons are most useful in assessing industry trends and RPC's recent financial results. Both sequential and year-over-year comparisons are available in the tables at the end of this earnings release.First Quarter 2026 HighlightsRevenues increased 7% sequentially to $454.8 millionNet income was $0.9 million, compared to net loss of $3.1 million in the prior quarter, and diluted Earnings Per Share (EPS) was $0.00; Net income margin increased 90 basis points sequentially to 0.2%Adjusted net income was $7.6 million, compared to $9.4 million in the prior quarter, and adjusted diluted EPS was $0.03; Adjusted net income margin was 1.7%. See Appendices B and C for additional detailsAdjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) was $53.5 million, compared to $55.1 million in the prior quarter; Adjusted EBITDA margin decreased 110 basis points sequentially to 11.8%. See Appendix C for additional detailsManagement Commentary"During the first quarter we experienced modest revenue increases despite weather impacts to start the year. Our Technical Services segment revenues increased 7% sequentially. Within Technical Services, Cudd Energy Services' pressure pumping saw the largest percentage increase at 20% followed by Cudd Pressure Control's nitrogen service line which increased 13%. Thru Tubing Solutions' downhole tools increased 11% driven by higher activity supported by new technologies. Our Support Services segment revenues were flat sequentially, as the first quarter typically sees the biggest weather impact," stated Ben M. Palmer, RPC's President and Chief Executive Officer."The year started off with winter storms disrupting activity across multiple basins which was followed by significant geopolitical events that meaningfully increased oil prices. We are seeing signs of optimism including increased bidding activity, as well as a number of operators electing to maintain activity, rather than following through with previously announced reduction plans. However, industry concerns about the duration of higher commodity prices and price volatility are currently limiting any significant reevaluation of spending plans. As we look ahead, we will be measured in our approach focusing on returns on capital and strategically investing where prudent."Selected Industry Data (Source: Baker Hughes, Inc., U.S. Energy Information Administration)






















1Q:26
4Q:25
Change
% Change
1Q:25
Change
% Change
Average U.S. rig count

548

548

—
—%
588

(40)
(6.8)%Average Oil price ($/barrel)
$70.54
$59.79
$10.75
18.0%$71.93
$(1.39)
(1.9)%Average Natural gas ($/Mcf)
$4.81
$3.69
$1.12
30.4%$4.14
$0.67
16.2%1Q:26 Consolidated Financial Results (sequential comparisons to previous quarter)Revenues were $454.8 million, up 7%. Within the Technical Services segment, we saw revenues increase 7% sequentially with pumping, nitrogen, and downhole tools seeing double digit percentage increases. Within the Support Services segment revenues were essentially flat.Cost of revenues, which excludes depreciation and amortization of $37.1 million, was $355.6 million, up from $336.6 million. Cost of revenues was most impacted by costs that typically vary with activity and job mix, specifically materials & supplies and fuel sourced for customers.Selling, general and administrative expenses were $48.2 million, slightly up from $47.7 million.Acquisition related employment costs were approximately $7.3 million during 1Q:26 and 4Q:25, and represent non-cash accounting adjustments related to the Pintail acquisition costs that are contingent upon continued employment.Depreciation and amortization was $42.9 million during 1Q:26, and 4Q:25 was $39.1 million. The fourth quarter reflected a $2.8 million reduction in depreciation and amortization due to the change in wireline cable accounting. See Appendix C for additional details.Interest income totaled $1.8 million, approximating the prior quarter.Interest expense totaled $830 thousand, approximating the prior quarter.Income tax provision was $3.5 million, primarily due to the disproportionate impact of permanent non-deductible items, mainly acquisition related employment costs, on a relatively low pretax income.Net earnings and Earnings per share totaled $0.9 million and $0.00 respectively, versus net loss of $3.1 million and diluted loss per share of $0.02, respectively, in 4Q:25. Net income margin increased 90 basis points sequentially to 0.2%.Adjusted net income and Adjusted diluted EPS were $7.6 million and $0.03, respectively, versus $9.4 million and $0.04, respectively, in 4Q:25. Adjusted net income margin decreased to 1.7% from 2.2% in 4Q:25.Adjusted EBITDA was $53.5 million, down from $55.1 million. Adjusted EBITDA margin decreased 110 basis points sequentially to 11.8%. See Appendix C for additional details. Balance Sheet, Cash Flow and Capital AllocationCash and cash equivalents decreased slightly to $200.7 million at the end of the first quarter compared to the end of 2025, with no outstanding borrowings under the Company's $100 million revolving credit facility.Net cash provided by operating activities and Free cash flow were $31.2 million and ($0.9) million, respectively, year-to-date through 1Q:26. Working capital was a significant use of cash during the quarter primarily due to higher accounts receivable resulting from revenue increases.Payment of dividends totaled $8.9 million year-to-date. As previously announced, the Board of Directors declared a regular quarterly cash dividend of $0.04 per share, payable on June 10, 2026, to common stockholders of record at the close of business on May 11, 2026.Share repurchases totaled $3.5 million year-to-date, all of which related to tax withholding for restricted stock vesting.Segment Operations (sequential comparisons versus the previous quarter)Technical Services performs value-added completion, production and maintenance services directly to a customer's well. These services include pressure pumping, downhole tools, wireline, coiled tubing, cementing, and other offerings.Revenues were $434.3 million, up 7%Operating income was $16.0 million, up $7.5 million or 89%. Recall the fourth quarter was impacted by the transition to expensing wireline cablesOperating income saw broad based increases across most of our service linesSupport Services provides equipment for customer use or services to assist customer operations, including rental tools, pipe inspection services and storage.Revenues were $20.5 million, essentially flatOperating income was $0.4 million, down $1.3 million or 76%Rental Tools typically sees the most seasonality during the first quarter











Three Months Ended

March 31, 
December 31,
March 31, (In thousands)
2026
2025
2025


(Unaudited)

(Unaudited)

(Unaudited)Revenues:








Technical Services
$434,282
$405,244
$311,844Support Services

20,473

20,533

21,033Total revenues
$454,755
$425,777
$332,877Operating income (loss):








Technical Services
$15,978
$8,457(1)$14,003Support Services

401

1,688

2,661Corporate expenses

(8,270)

(7,748)

(5,804)Acquisition related employment costs

(7,292)

(7,291)

—Gain on disposition of assets, net

1,803

904

1,526Total operating income (loss)
$2,620
$(3,990)
$12,386Interest expense

(830)

(942)

(131)Interest income

1,770

1,654

3,395Other income, net

749

3,426

885Income before income taxes
$4,309
$148
$16,535(1)  Beginning in the fourth quarter of 2025, wireline cables, previously capitalized and depreciated over 18 months, began being expensed due to a change in their estimated useful lives. Wireline cable adjustments in 2025 totaled approximately $13.8 million: $4.7 million in second quarter, $4.5 million in the third quarter, and $4.6 million in the fourth quarter. Wireline cable purchase expenses are partially offset by a decrease in depreciation of $1.9 million in the second quarter, $2.5 million in the third quarter and $1.0 million in the fourth quarter.  The net 2025 operating income impact was additional expense of $8.3 million comprised of $2.8 million in the second quarter, $2.0 million in the third quarter and $3.5 million in the fourth quarter.Conference Call InformationRPC, Inc. will hold a conference call today, May 7, 2026, at 9:00 a.m. ET to discuss the results for the quarter. Interested parties may listen in by accessing a live webcast in the investor relations section of RPC, Inc.'s website at www.rpc.net. The live conference call can also be accessed by calling (800) 715-9871, or +1 (646) 307-1963 for international callers, and using conference ID number 5388095. For those not able to attend the live conference call, a replay will be available in the investor relations section of RPC, Inc.'s website beginning approximately two hours after the call and for a period of 90 days.About RPCRPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of America, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets. RPC's investor website can be found at www.rpc.net.Forward Looking StatementsCertain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements that look forward in time or express management's beliefs, expectations or hopes. In particular, such statements include, without limitation:  that the Company is seeing signs of optimism, including increased bidding activity, as well as a number of operators electing to maintain activity, rather than previously announced reduction plans; that industry concerns about the duration of higher commodity prices and price volatility are currently limiting any significant reevaluation of spending plans; and the Company's expectation for future periods that it will follow a measured approach focusing on returns on capital and strategically investing in a prudent manner. Risk factors that could cause such future events not to occur as expected include the following: the price of oil and natural gas and overall performance of the U.S. economy, both of which can impact capital spending by our customers and demand for our services; the impact of tariffs, which may increase our cost of materials and impact our profitability, business interruptions due to adverse weather conditions; changes in the competitive environment of our industry, including the potential impact of the recent U.S. actions in Iran and Venezuela, including without limitation the impacts of the blockade of the Strait of Hormuz; political instability in the petroleum-producing regions of the world; the actions of the OPEC oil cartel; our customers' drilling and production activities; and our ability to identify, complete and successfully integrate acquisitions and/or other strategic investments or transactions.  Additional factors that could cause the actual results to differ materially from management's projections, forecasts, estimates, and expectations are contained in RPC's Form 10-K for the year ended December 31, 2025.For information about RPC, Inc., please contact:Joshua Large,
Vice President, Corporate Finance and Investor Relations
(404) 321-2152
jlarge@rpc.netMichael L. Schmit,
Chief Financial Officer
(404) 321-2140
irdept@rpc.netRPC INCORPORATED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands except per share data)











Three Months Ended

March 31, 
December 31,
March 31, 

2026
2025
2025


(Unaudited)

(Unaudited)

(Unaudited)









REVENUES
$454,755
$425,777
$332,877COSTS AND EXPENSES:








Cost of revenues (exclusive of depreciation and amortization shown separately
below)

355,585

336,568

243,895Selling, general and administrative expenses

48,207

47,687

42,499  Acquisition related employment costs

7,292

7,291

—Depreciation and amortization

42,854

39,125

35,623Gain on disposition of assets, net

(1,803)

(904)

(1,526)Operating income (loss)

2,620

(3,990)

12,386Interest expense

(830)

(942)

(131)Interest income

1,770

1,654

3,395Other income, net

749

3,426

885Income before income taxes

4,309

148

16,535Income tax provision

3,454

3,209

4,505NET INCOME (LOSS)
$855
$(3,061)
$12,030



















EARNINGS (LOSS) PER SHARE








Basic
$0.00
$(0.02)(1)$0.06Diluted
$0.00
$(0.02)
$0.06









WEIGHTED AVERAGE SHARES OUTSTANDING








Basic

221,331

212,247(2)
215,691Diluted

221,331

212,247

215,691(1)For the three months ended December 31, 2025, loss per share reflects a reduction of $0.01, due to the adjustment for earnings attributable to participating securities under the two-class method. Participating securities are share-based payment awards with non-forfeitable rights to dividends.(2)Average shares outstanding were reduced by 8,327 shares of participating securities for the three months ended December 31, 2025, under the two-class method and because the inclusion of such securities would be anti-dilutive.RPC INCORPORATED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS








(In thousands)

March 31, 
December 31, 

2026
2025


(Unaudited)


ASSETS





Cash and cash equivalents
$200,730
$209,974Accounts receivable, net

374,693

327,668Inventories

120,375

119,004Income taxes receivable

1,701

6,302Prepaid expenses

14,164

18,307Other current assets

23,109

23,215Total current assets

734,772

704,470Property, plant and equipment, net

521,206

531,556Operating lease right-of-use assets

22,209

24,094Finance lease right-of-use assets

1,908

1,934Goodwill

81,249

83,422Other intangibles, net

96,742

97,499Other assets

22,872

25,410Total assets
$1,480,958
$1,468,385






LIABILITIES AND STOCKHOLDERS' EQUITY





LIABILITIES





Accounts payable
$160,765
$119,757Accrued payroll and related expenses

26,955

38,636Accrued insurance expenses

8,438

7,194Accrued state, local and other taxes

5,101

3,543Income taxes payable

881

787Unearned revenue

—

13,233Current portion of operating lease liabilities

6,408

7,606Current portion of finance lease liabilities

1,018

977Current portion of notes payable

20,000

20,000Accrued expenses and other liabilities

5,397

5,419Total current liabilities

234,963

217,152Accrued insurance expenses

16,134

15,570Notes payable

30,000

30,000Operating lease liabilities

16,314

17,762Finance lease liabilities

970

1,041Other long-term liabilities

10,937

10,814Deferred income taxes

75,338

76,875Total liabilities

384,656

369,214






STOCKHOLDERS' EQUITY





Common stock

22,164

22,057Capital in excess of par value

—

—Retained earnings

1,076,801

1,079,664Accumulated other comprehensive loss

(2,663)

(2,550)Total stockholders' equity

1,096,302

1,099,171Total liabilities and stockholders' equity
$1,480,958
$1,468,385RPC INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS















(In thousands)Three months ended March 31, 
2026
2025


(Unaudited)


OPERATING ACTIVITIES





Net income
$855
$12,030Adjustments to reconcile net income to net cash provided by operating activities:





Depreciation and amortization

42,854

35,623Acquisition related employment costs

7,292

—Working capital

(21,697)

(6,920)Other operating activities

1,869

(868)Net cash provided by operating activities

31,173

39,865






INVESTING ACTIVITIES





Capital expenditures

(32,105)

(32,270)Proceeds from sale of assets

4,265

4,827Net cash used for investing activities

(27,840)

(27,443)






FINANCING ACTIVITIES





Payment of dividends

(8,865)

(8,653)Cash paid for common stock purchased and retired

(3,452)

(2,868)Cash paid for finance lease and finance obligations

(260)

(152)Net cash used for financing activities

(12,577)

(11,673)






Net (decrease) increase in cash and cash equivalents

(9,244)

749Cash and cash equivalents at beginning of period

209,974

325,975Cash and cash equivalents at end of period
$200,730
$326,724Non-GAAP MeasuresRPC, Inc. has used the non-GAAP financial measures of adjusted operating income, adjusted net income, adjusted net income margin, adjusted earnings per share, adjusted EBITDA, adjusted EBITDA margin and free cash flow in today's earnings release. These measures should not be considered in isolation or as a substitute for performance or liquidity measures prepared in accordance with GAAP. Management believes that presenting these non-GAAP measures, other than free cash flow, enables investors to compare the operating performance of our core business consistently over various time periods, without regard to acquisition related employment costs and changes in our accounting for purchases of wireline cables, and in the case of Adjusted EBITDA and Adjusted EBITDA margin, without regard to changes in our capital structure. Management believes that free cash flow, which measures our ability to generate additional cash from our business operations, is an important financial measure for use in evaluating RPC's liquidity. Free cash flow should be considered in addition to, rather than as a substitute for, net cash provided by operating activities as a measure of our liquidity. Additionally, RPC's definition of free cash flow is limited, in that it does not represent residual cash flows available for discretionary expenditures, due to the fact that the measure does not deduct the payments required for debt service and other contractual obligations or payments made for business acquisitions. Therefore, management believes it is important to view free cash flow as a measure that provides supplemental information to our Condensed Consolidated Statements of Cash Flows.A non-GAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that either 1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of operations, balance sheet or statement of cash flows, or 2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented.Set forth in the appendices below are reconciliations of these non-GAAP measures with their most directly comparable GAAP measures. These reconciliations also appear on RPC, Inc.'s investor website, which can be found at www.rpc.net.Appendix A









(Unaudited)
Three Months Ended

March 31, 
December 31,
March 31, (In thousands)
2026
2025
2025Reconciliation of Operating Income (Loss) to Adjusted Operating
Income


















Operating income (loss)
$2,620
$(3,990)
$12,386  Wireline cable expenses

—

4,818(1)
—  Acquisition related employment costs

7,292

7,291

—Adjusted operating income
$9,912
$8,119
$12,386(1) Beginning in the fourth quarter of 2025, wireline cables, previously capitalized and depreciated over 18 months, began being expensed due to a change in their estimated useful lives. Wireline cable adjustments in 2025 totaled approximately $13.8 million: $4.7 million in second quarter, $4.5 million in the third quarter, and $4.6 million in the fourth quarter. Wireline cable purchase expenses are partially offset by a decrease in depreciation of $1.9 million in the second quarter, $2.5 million in the third quarter and $1.0 million in the fourth quarter.  The net 2025 operating income impact was additional expense of $8.3 million comprised of $2.8 million in the second quarter, $2.0 million in the third quarter and $3.5 million in the fourth quarter.Appendix B









(Unaudited)
Three Months Ended

March 31, 
December 31,
March 31, (In thousands)
2026
2025
2025Reconciliation of Net Income (Loss) to Adjusted Net Income


















Net income (loss)
$855
$(3,061)
$12,030Adjustments:








   Wireline cable expenses, before taxes

—

4,818(1)
—   Tax effect of wireline cable expenses

—

(1,132)

— Acquisition related employment costs, before taxes

7,292

7,291

—Tax effect of Acquisition related employment costs

(572)

(2,504)

—Taxes on company owned life insurance liquidation

—

3,962

—Total adjustments, net of tax

6,720

12,435

—Adjusted net income
$7,575
$9,373
$12,030(1)  Beginning in the fourth quarter of 2025, wireline cables, previously capitalized and depreciated over 18 months, are now being expensed due to a change in their estimated useful lives. Wireline cable adjustments in 2025 totaled approximately $13.8 million: $4.7 million in second quarter, $4.5 million in the third quarter, and $4.6 million in the fourth quarter. Wireline cable purchase expenses are partially offset by a decrease in depreciation of $1.9 million in the second quarter, $2.5 million in the third quarter and $1.0 million in the fourth quarter.  The net 2025 operating income impact was additional expense of $8.3 million comprised of $2.8 million in the second quarter, $2.0 million in the third quarter and $3.5 million in the fourth quarter. 









(Unaudited)
Three Months Ended

March 31, 
December 31,
March 31, 

2026
2025
2025Reconciliation of Diluted Earnings (Loss) Per Share to Adjusted Diluted
Earnings Per Share


















Diluted earnings (loss) per share
$0.00
$(0.02)
$0.06Adjustments:








    Wireline cable expenses, before taxes

—

0.02(1)
—     Tax effect of wireline cable expenses

—

—

— Acquisition related employment costs, before taxes

0.03

0.03

—   Tax effect of Acquisition related employment costs

(0.00)

(0.01)

—   Taxes on company owned life insurance liquidation

—

0.02

—Total adjustments, net of tax

0.03

0.06

—Adjusted diluted earnings per share
$0.03
$0.04
$0.06









Weighted average shares outstanding  (in thousands)

221,331

220,574

215,691(1)  Beginning in the fourth quarter of 2025, wireline cables, previously capitalized and depreciated over 18 months, began being expensed due to a change in their estimated useful lives. Wireline cable adjustments in 2025 totaled approximately $13.8 million: $4.7 million in second quarter, $4.5 million in the third quarter, and $4.6 million in the fourth quarter. Wireline cable purchase expenses are partially offset by a decrease in depreciation of $1.9 million in the second quarter, $2.5 million in the third quarter and $1.0 million in the fourth quarter.  The net 2025 operating income impact was additional expense of $8.3 million comprised of $2.8 million in the second quarter, $2.0 million in the third quarter and $3.5 million in the fourth quarter. 
Appendix C









(Unaudited)
Three Months Ended

March 31, 
December 31,
March 31, (In thousands)
2026
2025
2025Reconciliation of Net Income (loss) to EBITDA and Adjusted EBITDA, and Net
Income Margin to Adjusted Net Income Margin and Adjusted EBITDA Margin








Net income (loss)
$855
$(3,061)
$12,030Adjustments:








Add: Income tax provision

3,454

3,209

4,505Add: Interest expense

830

942

131Add: Depreciation and amortization

42,854

39,125

35,623









Less: Interest income

1,770

1,654

3,395EBITDA
$46,223
$38,561
$48,894









   Add: Wireline cable expenses

—

9,251(2)
—Add: Acquisition related employment costs

7,292

7,291

—Adjusted EBITDA
$53,515
$55,103
$48,894









Revenues
$454,755
$425,777
$332,877









Net income (loss) margin(1)

0.2 %

(0.7) %

3.6 %









Adjusted net income margin(1)

1.7 %

2.2 %(2)
3.6 %









Adjusted EBITDA margin(1)

11.8 %

12.9 %(2)
14.7 %(1)  Net income margin is calculated as Net income divided by Revenues. Adjusted net income margin is calculated as Adjusted net income divided by Revenues. Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by Revenues.(2)  Beginning in the fourth quarter of 2025, wireline cables, previously capitalized and depreciated over 18 months, began being expensed due to a change in their estimated useful lives. Wireline cable adjustments in 2025 totaled approximately $13.8 million: $4.7 million in second quarter, $4.5 million in the third quarter, and $4.6 million in the fourth quarter. Wireline cable purchase expenses are partially offset by a decrease in depreciation of $1.9 million in the second quarter, $2.5 million in the third quarter and $1.0 million in the fourth quarter.  The net 2025 operating income impact was additional expense of $8.3 million comprised of $2.8 million in the second quarter, $2.0 million in the third quarter and $3.5 million in the fourth quarter.Appendix D





(Unaudited)Three months ended March 31,(In thousands)2026
2025Reconciliation of Operating Cash Flow to Free Cash Flow




Net cash provided by operating activities$31,173
$39,865Capital expenditures
(32,105)

(32,270)Free cash flow$(932)
$7,595  View original content to download multimedia:https://www.prnewswire.com/news-releases/rpc-inc-reports-first-quarter-2026-financial-results-302764793.htmlSOURCE RPC, Inc. Original: RPC, Inc. Reports First Quarter 2026 Financial Results

Wesley N. Slagle Elected to the RPC, Inc. Board of DirectorsApril 29, 2026 4:39 PM
PR Newswire (US)

ATLANTA, April 29, 2026 /PRNewswire/ -- RPC, Inc. (NYSE: RES) announced today the election of Wesley N. Slagle to the Board of Directors of the Company. Mr. Slagle is the President of RFA Management Company, LLC and holds a B.S. in systems engineering from the United States Naval Academy and an MBA from Emory University. Previously, he held multiple positions at Goldman Sachs from 2014 to 2022, including Managing Director and Mid-Atlantic Region Head of the firm's Private Wealth Management division. Prior to his time at Goldman Sachs, Mr. Slagle worked in various roles at AllianceBernstein, GE Energy and the US Navy, where he served as an officer onboard a nuclear-powered fast attack submarine.Richard A. Hubbell, Executive Chairman of the Board of RPC, Inc. stated, "Wes Slagle's financial and operational knowledge brings capital allocation, strategic planning, and meaningful investment experience to the Board. We look forward to his contributions to our board in the years ahead."About RPC, Inc.
RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of America, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets. RPC's investor website can be found on the internet at RPC.net.For information about RPC, Inc. or this event, please contact:Joshua Large
Vice President, Corporate Finance and Investor Relations
(404) 321-2152
jlarge@rpc.net Michael L. Schmit
Chief Financial Officer
(404) 321-2140
irdept@rpc.net





View original content to download multimedia:https://www.prnewswire.com/news-releases/wesley-n-slagle-elected-to-the-rpc-inc-board-of-directors-302757948.htmlSOURCE RPC, Inc.

Original: Wesley N. Slagle Elected to the RPC, Inc. Board of Directors

RPC, Inc. Announces Date for First Quarter 2026 Financial Results and Conference CallApril 28, 2026 5:00 PM
PR Newswire (US)

ATLANTA, April 28, 2026 /PRNewswire/ -- RPC, Inc. (NYSE: RES) announced today that it will release its financial results for the first quarter ended March 31, 2026 on Thursday, May 7, 2026 before the market opens.  In conjunction with its earnings release, the Company will host a conference call to review the Company's financial and operating results on Thursday, May 7, 2026 at 9:00 a.m. Eastern Time.Individuals wishing to participate in the conference call should dial toll-free (800) 715-9871, or +1 (646) 307-1963 for international callers, and use conference ID number 5388095.  For interested individuals unable to join by telephone, the call also will be broadcast and archived for 90 days on the Company's investor website.  Interested parties are encouraged to click on the webcast link 10-15 minutes prior to the start of the conference call.About RPC, Inc.
RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of America, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets.  RPC's investor website can be found on the internet at RPC.net.For information about RPC, Inc. or this event, please contact:Joshua Large
Vice President, Corporate Finance and Investor Relations
(404) 321-2152
jlarge@rpc.net Michael L. Schmit
Chief Financial Officer
(404) 321-2140
irdept@rpc.net





View original content to download multimedia:https://www.prnewswire.com/news-releases/rpc-inc-announces-date-for-first-quarter-2026-financial-results-and-conference-call-302756156.htmlSOURCE RPC, Inc.

Original: RPC, Inc. Announces Date for First Quarter 2026 Financial Results and Conference Call

RPC, Inc. Announces Regular Quarterly Cash DividendApril 28, 2026 4:15 PM
PR Newswire (US)

ATLANTA, April 28, 2026 /PRNewswire/ -- RPC, Inc. (NYSE: RES) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.04 per share payable June 10, 2026 to common stockholders of record at the close of business on May 11, 2026. About RPC, Inc.
RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of America, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets.  RPC's investor website can be found on the internet at RPC.net.For information about RPC, Inc. or this event, please contact:Joshua Large
Vice President, Corporate Finance and Investor Relations
(404) 321-2152
jlarge@rpc.netMichael L. Schmit
Chief Financial Officer
(404) 321-2140
irdept@rpc.net





View original content to download multimedia:https://www.prnewswire.com/news-releases/rpc-inc-announces-regular-quarterly-cash-dividend-302756155.htmlSOURCE RPC, Inc.

Original: RPC, Inc. Announces Regular Quarterly Cash Dividend

RPC, Inc. Reports Fourth Quarter And Full Year 2025 Financial ResultsFebruary 3, 2026 6:45 AM
PR Newswire (US)

ATLANTA, Feb. 3, 2026 /PRNewswire/ -- RPC, Inc. (NYSE: RES) ("RPC" or the "Company"), a leading diversified oilfield services company, announced its unaudited results for the fourth quarter and full year ended December 31, 2025.Non-GAAP and adjusted measures may include adjusted revenues, adjusted operating income, adjusted net income, adjusted net income margin, adjusted earnings per share (diluted), EBITDA and adjusted EBITDA, adjusted EBITDA margin, and free cash flow which are reconciled to the most directly comparable GAAP measures in the appendices of this earnings release.Sequential comparisons are to 3Q:25. The Company believes quarterly sequential comparisons are most useful in assessing industry trends and RPC's recent financial results. Both sequential and year-over-year comparisons are available in the tables at the end of this earnings release.Fourth Quarter 2025 HighlightsRevenues decreased 5% sequentially to $425.8 millionNet loss was $3.1 million, compared to net income of $13.0 million in the prior quarter, and Loss Per Share was $0.02; Net (loss) income margin decreased 360 basis points sequentially to (0.7)%Adjusted net income was $9.4 million, compared to $16.8 million in the prior quarter, and adjusted diluted Earnings per Share (EPS) was $0.04; Adjusted net income margin was 2.2%. See Appendices B and C for additional detailsAdjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) was $55.1 million, compared to $67.8 million in the prior quarter; Adjusted EBITDA margin decreased 230 basis points sequentially to 12.9%. Adjusted EBITDA was negatively impacted by approximately $4.6 million in wireline cable expenses incurred during the quarter. Previously, wireline cables were capitalized. See Appendix C for additional detailsFull Year 2025 HighlightsRevenues increased 15% compared to the prior year to $1.6 billion primarily due to the Pintail Completions acquisition which closed April 1, 2025Net income was $32.1 million, down 65% compared to the prior year, and EPS was $0.15; Net income margin decreased 450 basis points compared to the prior year to 2.0%Adjusted net income was $53.6 million, down 41% compared to the prior year, and adjusted diluted EPS was $0.25; Adjusted net income margin was 3.3%Adjusted EBITDA was $232.7 million, essentially unchanged from the prior year; Adjusted EBITDA margin decreased 220 basis points sequentially to 14.3%Net cash from operating activities was $201.3 million; free cash flow was $52.9 million unaffected by the transition to expensing wireline cablesThe Company paid $35.1 million in dividends, and repurchased $2.9 million of common stock in 2025Management Commentary"During the fourth quarter we experienced modest revenue declines primarily due to the holiday slowdowns. Our Technical Services segment revenues declined 4% sequentially. Within Technical Services, Thru Tubing Solutions' downhole tools declined 9% driven by softer activity in the Rocky Mountain and International districts. Cudd Energy Services' pumping and Pintail Completions' wireline declined 6% and 3%, respectively, partially offset by Cudd Pressure Control's snubbing revenues, which grew by 13%. Our Support Services segment revenues declined 18% sequentially, primarily due to Patterson Services' rental tools declining 22% during the quarter as several jobs shifted into early 2026," stated Ben M. Palmer, RPC's President and Chief Executive Officer. "As we enter 2026, we are focused on disciplined execution, leveraging our strong brands and diversified offerings.""We experienced a solid start to the fourth quarter but encountered a weak December as a number of our customers reduced activity, particularly late in the month. The macro environment remains challenging, with crude oil prices showing increased volatility due to recent geopolitical developments. As we look ahead, our focus remains on delivering full cycle returns by maintaining cost discipline, deploying capital strategically, and positioning the company for long-term success."Selected Industry Data (Source: Baker Hughes, Inc., U.S. Energy Information Administration)

4Q:25
3Q:25
Change
% Change
4Q:24
Change
% Change
U.S. rig count (avg)

548

540

8
1.5%
586

(38)
(6.5)%Oil price ($/barrel)
$59.79
$65.85
$(6.06)
(9.2)%$70.59
$(10.80)
(15.3)%Natural gas ($/Mcf)
$3.69
$3.04
$0.65
21.4%$2.43
$1.26
51.9%4Q:25 Consolidated Financial Results (sequential comparisons to previous quarter)Revenues were $425.8 million, down 5%. Within the Technical Services segment, we saw revenues decrease 4% sequentially with snubbing and cementing showing sequential growth offset by declines in our other service lines. Within the Support Services segment we saw an 18% sequential decrease with rental tools showing a sequential decrease of 22%, slightly offset by increases in tubular services.  Cost of revenues, which excludes depreciation and amortization of $33.8 million, was $336.6 million, up slightly from $334.7 million. Despite lower revenues, the cost of revenues increased during the quarter due to expensing year-to-date wireline cable purchases of approximately $12 million that were previously being capitalized, and increases in other materials and supplies expenses related to job mix.Selling, general and administrative expenses were $47.7 million, up from $44.6 million, primarily related to employment incentives and higher other employment related costs.Acquisition related employment costs were approximately $7.3 million during 4Q:25 and represent non-cash accounting adjustments related to the Pintail acquisition costs that are contingent upon continued employment.Interest income totaled $1.7 million, approximating the prior quarter.Interest expense totaled $942 thousand, approximating the prior quarter.Income tax provision was $3.2 million, with an unusually high effective tax rate primarily due to the liquidation of company-owned life insurance policies that were part of the previously announced dissolution of the company's non-qualified supplemental retirement plan, coupled with the non-deductible portion of Acquisition related employment costs.Net loss and Loss per share were a loss of $3.1 million and $0.02 respectively, versus net income of $13.0 million and diluted earnings per share of $0.06, respectively, in 3Q:25. Net income margin decreased 360 basis points sequentially to (0.7)%.Adjusted net income and Adjusted diluted EPS were $9.4 million and $0.04, respectively, versus $16.8 million and $0.08, respectively, in 3Q:25. Adjusted net income margin decreased to 2.2% from 3.8% in 3Q:25Adjusted EBITDA was $55.1 million, down from $67.8 million. Adjusted EBITDA margin decreased 230 basis points sequentially to 12.9%. Adjusted EBITDA was negatively impacted by approximately $4.6 million in wireline cable expenses incurred during the quarter. Previously, wireline cables were capitalized. See Appendix C for additional details.  Balance Sheet, Cash Flow and Capital AllocationCash and cash equivalents increased to $210.0 million at the end of the fourth quarter, with no outstanding borrowings under the Company's $100 million revolving credit facility.Net cash provided by operating activities and Free cash flow were $201.3 million and $52.9 million, respectively, year-to-date through 4Q:25.Payment of dividends totaled $35.1 million year-to-date through 4Q:25. As previously announced, the Board of Directors declared a regular quarterly cash dividend of $0.04 per share, payable on March 10, 2026, to common stockholders of record at the close of business on February 10, 2026.Share repurchases totaled $2.9 million year-to-date through 4Q:25, all of which related to tax withholding for restricted stock vesting.Segment Operations (sequential comparisons versus the previous quarter)Technical Services performs value-added completion, production and maintenance services directly to a customer's well. These services include pressure pumping, downhole tools, wireline, coiled tubing, cementing, and other offerings.Revenues were $405.2 million, down 4%Operating income was $8.5 million, down 65%Operating income was negatively impacted by approximately $8 million due to the transition to expensing wireline cables during the quarter. See Appendix A for additional detailsSupport Services provides equipment for customer use or services to assist customer operations, including rental tools, pipe inspection services and storage.Revenues were $20.5 million, down 18%Operating income was $1.7 million, down 63%Lower revenues were driven by decreased activity in rental tools, particularly in December

Three Months Ended
Year Ended

December 31, 
September 30,
December 31, 
December 31, 
December 31, (In thousands)
2025
2025
2024
2025
2024


(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)


Revenues:














Technical Services
$405,244
$422,206
$314,635
$1,536,048
$1,326,005Support Services

20,533

24,897

20,726

90,518

88,994Total revenues
$425,777
$447,103
$335,361
$1,626,566
$1,414,999Operating (loss) income:














Technical Services
$8,457(1)$24,448
$10,603
$68,031
$89,101Support Services

1,688

4,604

2,572

13,592

15,836Corporate expenses

(7,748)

(5,348)

(4,515)

(24,771)

(15,598)Acquisition related employment costs

(7,291)

(6,467)

—

(20,312)

—Gain on disposition of assets, net

904

3,563

1,857

8,192

8,199Total operating (loss) income
$(3,990)
$20,800
$10,517
$44,732
$97,538Interest expense

(942)

(949)

(130)

(3,029)

(724)Interest income

1,654

1,748

3,303

8,415

13,134Other income, net

3,426

968

350

6,431

2,854Income before income taxes
$148
$22,567
$14,040
$56,549
$112,802
(1)  Beginning in the fourth quarter of 2025, wireline cables, previously capitalized and depreciated over 18 months, are now being expensed due to a change in their estimated useful lives. Wireline cable adjustments year-to-date totaled approximately $13.8 million: $4.7 million in second quarter, $4.5 million in the third quarter, and $4.6 million in the fourth quarter. Wireline cable purchase expenses are offset by a decrease in depreciation of $1.9 million in the second quarter, $2.5 million in the third quarter and $1.0 million in the fourth quarter. The net year-to-date operating income impact was additional expense of $8.3 million comprised of $2.8 million in the second quarter, $2.0 million in the third quarter and $3.5 million in the third quarter.Conference Call InformationRPC, Inc. will hold a conference call today, February 3, 2026, at 9:00 a.m. ET to discuss the results for the quarter. Interested parties may listen in by accessing a live webcast in the investor relations section of RPC, Inc.'s website at www.rpc.net. The live conference call can also be accessed by calling (800) 715-9871, or (646) 307-1963 for international callers, and using conference ID number 5388095. For those not able to attend the live conference call, a replay will be available in the investor relations section of RPC, Inc.'s website beginning approximately two hours after the call and for a period of 90 days.About RPCRPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of America, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets. RPC's investor website can be found at www.rpc.net.Forward Looking StatementsCertain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements that look forward in time or express management's beliefs, expectations or hopes. In particular, such statements include, without limitation: our focus on disciplined execution, leveraging our strong brands and diversified offerings, our belief that the macro environment remains challenging, with crude oil prices showing increased volatility due to recent geopolitical developments, and our focus on delivering full cycle returns by maintaining cost discipline, deploying capital strategically, and positioning the company for long-term success. Risk factors that could cause such future events not to occur as expected include the following: the price of oil and natural gas and overall performance of the U.S. economy, both of which can impact capital spending by our customers and demand for our services; the impact of tariffs, which may increase our cost of materials and impact our profitability, business interruptions due to adverse weather conditions; changes in the competitive environment of our industry, including the potential impact of the recent U.S. actions in Venezuela; political instability in the petroleum-producing regions of the world; the actions of the OPEC oil cartel; our customers' drilling and production activities; and our ability to identify, complete and successfully integrate acquisitions and/or other strategic investments or transactions.  Additional factors that could cause the actual results to differ materially from management's projections, forecasts, estimates, and expectations are contained in RPC's Form 10-K for the year ended December 31, 2024.For information about RPC, Inc., please contact:Joshua Large,
Vice President, Corporate Finance and Investor Relations
(404) 321-2152
jlarge@rpc.netMichael L. Schmit,
Chief Financial Officer
(404) 321-2140
irdept@rpc.net RPC INCORPORATED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands except per share data)


Three Months Ended
Year Ended

December 31, 
September 30,
December 31, 
December 31, 
December 31, 

2025
2025
2024
2025
2024


(Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)


















REVENUES
$425,777
$447,103
$335,361
$1,626,566
$1,414,999COSTS AND EXPENSES:














Cost of revenues (exclusive of depreciation and amortization
shown separately below)

336,568

334,673

250,248

1,232,882

1,036,648Selling, general and administrative expenses

47,687

44,628

41,249

175,639

156,437  Acquisition related employment costs

7,291

6,467

—

20,312

—Depreciation and amortization

39,125

44,098

35,204

161,193

132,575Gain on disposition of assets, net

(904)

(3,563)

(1,857)

(8,192)

(8,199)Operating (loss) income

(3,990)

20,800

10,517

44,732

97,538Interest expense

(942)

(949)

(130)

(3,029)

(724)Interest income

1,654

1,748

3,303

8,415

13,134Other income, net

3,426

968

350

6,431

2,854Income before income taxes

148

22,567

14,040

56,549

112,802Income tax provision

3,209

9,604

1,278

24,469

21,358NET (LOSS) INCOME
$(3,061)
$12,963
$12,762
$32,080
$91,444































(LOSS) EARNINGS PER SHARE (1)














Basic
$(0.02)
$0.06
$0.06
$0.15
$0.43Diluted
$(0.02)
$0.06
$0.06
$0.15
$0.43















WEIGHTED AVERAGE SHARES OUTSTANDING (2)














Basic

212,247

220,575

214,950

219,362

214,942Diluted

212,247

220,575

214,950

219,362

214,942

(1)For the three months ended December 31, 2025, loss per share reflects a reduction of $0.01, due to the adjustment for earnings attributable to participating securities under the two-class method. Participating securities are share-based payment awards with non-forfeitable rights to dividends.(2)Average shares outstanding were reduced by 8,327 and 7,204 shares of participating securities for the three and twelve months ended December 31,2025, respectively, both under the two-class method and because the inclusion of such securities would be anti-dilutive. RPC INCORPORATED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS


(In thousands)

December 31, 
December 31, 

2025
2024


(Unaudited)


ASSETS





Cash and cash equivalents
$209,974
$325,975Accounts receivable, net

327,668

276,577Inventories

119,004

107,628Income taxes receivable

6,302

4,332Prepaid expenses

18,307

16,136Other current assets

23,215

2,194Total current assets

704,470

732,842Property, plant and equipment, net

531,556

513,516Operating lease right-of-use assets

24,094

27,465Finance lease right-of-use assets

1,934

4,400Goodwill

83,422

50,824Other intangibles, net

97,499

13,843Retirement plan assets

—

30,666Other assets

25,410

12,933Total assets
$1,468,385
$1,386,489






LIABILITIES AND STOCKHOLDERS' EQUITY





LIABILITIES





Accounts payable
$119,757
$84,494Accrued payroll and related expenses

38,636

25,243Accrued insurance expenses

7,194

7,942Accrued state, local and other taxes

3,543

3,234Income taxes payable

787

446Unearned revenue

13,233

45,376Current portion of operating lease liabilities

7,606

7,108Current portion of finance lease liabilities

977

3,522Current portion of notes payable

20,000

—Accrued expenses and other liabilities

5,419

4,548Total current liabilities

217,152

181,913Accrued insurance expenses

15,570

12,175Retirement plan liabilities

—

24,539Notes payable

30,000

—Operating lease liabilities

17,762

21,724Finance lease liabilities

1,041

559Other long-term liabilities

10,814

9,099Deferred income taxes

76,875

58,189Total liabilities

369,214

308,198






STOCKHOLDERS' EQUITY





Common stock

22,057

21,494Capital in excess of par value

—

—Retained earnings

1,079,664

1,059,625Accumulated other comprehensive loss

(2,550)

(2,828)Total stockholders' equity

1,099,171

1,078,291Total liabilities and stockholders' equity
$1,468,385
$1,386,489 RPC INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS


(In thousands)Twelve months ended December 31, 
2025
2024


(Unaudited)


OPERATING ACTIVITIES





Net income
$32,080
$91,444Adjustments to reconcile net income to net cash provided by operating activities:





Depreciation and amortization

161,193

132,575Acquisition related employment costs

20,312

—Working capital

(37,395)

116,663Other operating activities

25,141

8,704Net cash provided by operating activities

201,331

349,386






INVESTING ACTIVITIES





Capital expenditures

(148,407)

(219,930)Proceeds from sale of assets

19,508

18,379Purchase of business, net of cash and debt assumed

(153,420)

—Proceeds from benefit plan financing arrangement

33,096

2,380Distribution from benefit plan financing arrangement

(24,474)

(2,380)Net cash used for investing activities

(273,697)

(201,551)






FINANCING ACTIVITIES





Payment of dividends

(35,122)

(34,433)Repayment of debt assumed at acquisition

(4,502)

—Cash paid for common stock purchased and retired

(2,868)

(9,938)Cash paid for finance lease and finance obligations

(1,143)

(799)Net cash used for financing activities

(43,635)

(45,170)






Net (decrease) increase in cash and cash equivalents

(116,001)

102,665Cash and cash equivalents at beginning of period

325,975

223,310Cash and cash equivalents at end of period
$209,974
$325,975Non-GAAP MeasuresRPC, Inc. has used the non-GAAP financial measures of adjusted revenues, adjusted operating income, adjusted net income, adjusted net income margin, adjusted earnings per share, adjusted EBITDA, adjusted EBITDA margin and free cash flow in today's earnings release. These measures should not be considered in isolation or as a substitute for performance or liquidity measures prepared in accordance with GAAP. Management believes that presenting these non-GAAP measures, other than free cash flow, enables investors to compare the operating performance of our core business consistently over various time periods, and in the case of Adjusted EBITDA, without regard to changes in our capital structure or changes in our accounting for purchases of wireline cables. Management believes that free cash flow, which measures our ability to generate additional cash from our business operations, is an important financial measure for use in evaluating RPC's liquidity. Free cash flow should be considered in addition to, rather than as a substitute for, net cash provided by operating activities as a measure of our liquidity. Additionally, RPC's definition of free cash flow is limited, in that it does not represent residual cash flows available for discretionary expenditures, due to the fact that the measure does not deduct the payments required for debt service and other contractual obligations or payments made for business acquisitions. Therefore, management believes it is important to view free cash flow as a measure that provides supplemental information to our Condensed Consolidated Statements of Cash Flows.A non-GAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that either 1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of operations, balance sheet or statement of cash flows, or 2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented.Set forth in the appendices below are reconciliations of these non-GAAP measures with their most directly comparable GAAP measures. These reconciliations also appear on RPC, Inc.'s investor website, which can be found at www.rpc.net.Appendix A














(Unaudited)
Three Months Ended
Year Ended

December 31, 
September 30,
December 31, 
December 31, 
December 31, (In thousands)
2025
2025
2024
2025
2024Reconciliation of Operating (Loss) Income to
Adjusted Operating Income






























Operating (loss) income
$(3,990)
$20,800
$10,517
$44,732
$97,538  Wireline cable expenses

4,818(1)
(2,040)(2)
—

—

—  Acquisition related employment costs

7,291

6,467

—

20,312

—Adjusted operating income
$8,119
$25,226
$10,517
$65,044
$97,538
(1)  Beginning in the fourth quarter of 2025, wireline cables, previously capitalized and depreciated over 18 months, are now being expensed due to a change in their estimated useful lives. Wireline cable adjustments year-to-date totaled approximately $13.8 million: $4.7 million in second quarter, $4.5 million in the third quarter, and $4.6 million in the fourth quarter. Wireline cable purchase expenses are offset by a decrease in depreciation of $1.9 million in the second quarter, $2.5 million in the third quarter and $1.0 million in the fourth quarter.  The net year-to-date operating income impact was additional expense of $8.3 million comprised of $2.8 million in the second quarter, $2.0 million in the third quarter and $3.5 million in the third quarter. We have made an adjustment to add back the second and third quarter charges to the fourth quarter results in order to provide better comparability going forward.   (2)  Third quarter operating income would have been negatively impacted by $2.0 million had wireline cables been expensed during the period instead of capitalized. This adjustment has been made to the third quarter presentation to provide better comparability to the fourth quarter. Appendix B














(Unaudited)
Three Months Ended
Year Ended

December 31, 
September 30,
December 31, 
December 31, 
December 31, (In thousands)
2025
2025
2024
2025
2024Reconciliation of Net (Loss) Income to Adjusted Net Income






























Net (loss) income
$(3,061)
$12,963
$12,762
$32,080
$91,444Adjustments:














   Wireline cable expenses, before taxes (1)

4,818

(2,040)(2)
—

—

—   Tax effect of wireline cable expenses

(1,132)

479

—

—


 Acquisition related employment costs, before taxes (1)

7,291

6,467

—

20,312

—Tax effect of Acquisition related employment costs

(2,504)

(1,051)

—

(2,753)

—Taxes on company owned life insurance liquidation

3,962

—

—

3,962

—Total adjustments, net of tax

12,435

3,855

—

21,521

—Adjusted net income
$9,373
$16,818
$12,762
$53,601
$91,444
(1)  Beginning in the fourth quarter of 2025, wireline cables, previously capitalized and depreciated over 18 months, are now being expensed due to a change in their estimated useful lives. Wireline cable adjustments year-to-date totaled approximately $13.8 million: $4.7 million in second quarter, $4.5 million in the third quarter, and $4.6 million in the fourth quarter. Wireline cable purchase expenses are offset by a decrease in depreciation of $1.9 million in the second quarter, $2.5 million in the third quarter and $1.0 million in the fourth quarter.  The net year-to-date operating income impact was additional expense of $8.3 million comprised of $2.8 million in the second quarter, $2.0 million in the third quarter and $3.5 million in the third quarter. We have made an adjustment to add back the second and third quarter charges to the fourth quarter results in order to provide better comparability going forward. (2) Third quarter net income would have been negatively impacted by $2.0 million had wireline cables been expensed during the period instead of capitalized. This adjustment has been made to the third quarter presentation to provide better comparability to the fourth quarter. (Unaudited)
Three Months Ended
Year Ended

December 31, 
September 30,
December 31, 
December 31, 
December 31, 

2025
2025
2024
2025
2024Reconciliation of Diluted (Loss) Earnings Per Share to
Adjusted Diluted Earnings Per Share






























Diluted (loss) earnings per share
$(0.02)
$0.06
$0.06
$0.15
$0.43Adjustments:














    Wireline cable expenses, before taxes (1)

0.02(2)
(0.01)(3)
—

—

—     Tax effect of wireline cable expenses

—

—

—

—

— Acquisition related employment costs, before taxes

0.03

0.03

—

0.09

—   Tax effect of Acquisition related employment costs

(0.01)

—

—

(0.01)

—   Taxes on company owned life insurance liquidation

0.02







0.02


Total adjustments, net of tax

0.06

0.02

—

0.10

—Adjusted diluted earnings per share
$0.04
$0.08
$0.06
$0.25
$0.43















Weighted average shares outstanding  (in thousands)

220,574(2)
220,575

214,950

219,362

214,942
(1)  Beginning in the fourth quarter of 2025, wireline cables, previously capitalized and depreciated over 18 months, are now being expensed due to a change in their estimated useful lives. Wireline cable adjustments year-to-date totaled approximately $13.8 million: $4.7 million in second quarter, $4.5 million in the third quarter, and $4.6 million in the fourth quarter. Wireline cable purchase expenses are offset by a decrease in depreciation of $1.9 million in the second quarter, $2.5 million in the third quarter and $1.0 million in the fourth quarter.  The net year-to-date operating income impact was additional expense of $8.3 million comprised of $2.8 million in the second quarter, $2.0 million in the third quarter and $3.5 million in the third quarter. We have made an adjustment to add back the second and third quarter charges to the fourth quarter results in order to provide better comparability going forward.(2)  Includes participating securities that were excluded in the computation of loss per share since they were anti-dilutive.(3)  Third quarter EPS would have been negatively impacted by ($0.01) had wireline cables been expensed during the period instead of capitalized. This adjustment has been made to the third quarter presentation to provide better comparability to the fourth quarter.  Appendix C














(Unaudited)
Three Months Ended
Year Ended

December 31, 
September 30,
December 31, 
December 31, 
December 31, (In thousands)
2025
2025
2024
2025
2024Reconciliation of Net Income to EBITDA and Adjusted
EBITDA, and Net Income Margin to Adjusted Net Income
Margin and Adjusted EBITDA Margin














Net (loss) income
$(3,061)
$12,963
$12,762
$32,080
$91,444Adjustments:














Add: Income tax provision

3,209

9,604

1,278

24,469

21,358Add: Interest expense

942

949

130

3,029

724Add: Depreciation and amortization

39,125

44,098

35,204

161,193

132,575















Less: Interest income

1,654

1,748

3,303

8,415

13,134EBITDA
$38,561
$65,866
$46,071
$212,356
$232,967















   Add: Wireline cable expenses

9,251(2)
(4,531)(3)
—

—

—Add: Acquisition related employment costs

7,291

6,467

—

20,312

—Adjusted EBITDA
$55,103
$67,802(3)$46,071
$232,668
$232,967















Revenues
$425,777
$447,103
$335,361
$1,626,566
$1,414,999















Net (loss) income margin(1)

(0.72) %

2.90 %

3.81 %

1.97 %

6.46 %















Adjusted net income margin(1)

2.20 %(2)
3.76 %

3.81 %

3.30 %

6.46 %















Adjusted EBITDA margin(1)

12.94 %(2)
15.16 %(3)
13.74 %

14.30 %

16.46 %
(1)  Net income margin is calculated as Net income divided by Revenues. Adjusted net income margin is calculated as Adjusted net income divided by Revenues. Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by Revenues.(2)  Beginning in the fourth quarter of 2025, wireline cables, previously capitalized and depreciated over 18 months, are now being expensed due to a change in their estimated useful lives. Wireline cable adjustments year-to-date totaled approximately $13.8 million: $4.7 million in second quarter, $4.5 million in the third quarter, and $4.6 million in the fourth quarter. Wireline cable purchase expenses are offset by a decrease in depreciation of $1.9 million in the second quarter, $2.5 million in the third quarter and $1.0 million in the fourth quarter.  The net year-to-date operating income impact was additional expense of $8.3 million comprised of $2.8 million in the second quarter, $2.0 million in the third quarter and $3.5 million in the third quarter. We have made an adjustment to add back the second and third quarter charges to the fourth quarter results in order to provide better comparability going forward.(3)  Third quarter Adjusted EBITDA would have been negatively impacted by approximately $4.5 million had wireline cables been expensed in the period. Adjusted EBITDA would have been $67.8 million. This adjustment has been made to the third quarter presentation to provide better comparability to the fourth quarter.     Appendix D




(Unaudited)Twelve months ended December 31,(In thousands)2025
2024Reconciliation of Operating Cash Flow to Free Cash Flow




Net cash provided by operating activities$201,331
$349,386Capital expenditures
(148,407)

(219,930)Free cash flow$52,924
$129,456 





View original content to download multimedia:https://www.prnewswire.com/news-releases/rpc-inc-reports-fourth-quarter-and-full-year-2025-financial-results-302676947.htmlSOURCE RPC, Inc.

Original: RPC, Inc. Reports Fourth Quarter And Full Year 2025 Financial Results

RPC, Inc. Announces Regular Quarterly Cash DividendJanuary 28, 2026 11:45 AM
PR Newswire (US)

ATLANTA, Jan. 28, 2026 /PRNewswire/ -- RPC, Inc. (NYSE: RES) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.04 per share payable March 10, 2026 to common stockholders of record at the close of business on February 10, 2026. About RPC, Inc.RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of America, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets.  RPC's investor website can be found on the internet at RPC.net.For information about RPC, Inc. or this event, please contact:Joshua Large
Vice President, Corporate Finance and Investor Relations
(404) 321-2152
jlarge@rpc.net Michael L. Schmit
Chief Financial Officer
(404) 321-2140
irdept@rpc.net





View original content to download multimedia:https://www.prnewswire.com/news-releases/rpc-inc-announces-regular-quarterly-cash-dividend-302671833.htmlSOURCE RPC, Inc.

Original: RPC, Inc. Announces Regular Quarterly Cash Dividend

$8.85 out

...or I may hold if the chart looks good idk

Took 8.40 let's see what happens here...scalping

8.40 right now. Notice a few Form 4's hit recently

* * $RES Video Chart 01-29-2020 * *

Link to Video - click here to watch the technical chart video

* * $RES Video Chart 10-21-2019 * *

Link to Video - click here to watch the technical chart video

Does anyone here still own $RES? I started buying at 17 and averaging down to 10,. Needless to say, I am not too happy with this pick.

Jefferies started RPC at Buy w/ $22 price target. Supported by the company's long-term fundamentals:

Valuation Analysis

RPC (NYSE:RES): Q3 EPS of -$0.16 misses by $0.01.

Revenue of $291.9M (-53.0% Y/Y) beats by $4.1M.

I am buying this stock and holding it for 5 years. These guys are going places.

RES testing the fifty day:

RES: Finviz chart:

RPC profit beats estimates on demand for technical services

http://www.reuters.com/article/2012/07/25/rpcinc-results-idUSL4E8IP3Z820120725?feedType=RSS&feedName=marketsNews&rpc=43

Wed Jul 25, 2012 8:14am EDT

* Q2 EPS $0.33 vs est $0.30

* Q2 rev up 12.9 pct at 500.1 mln

July 25 (Reuters) - Oilfield services and equipment provider RPC Inc's second-quarter profit beat analysts' estimates as a larger fleet drove up revenue at its technical services segment.

Sales at the company's biggest business, which provides well completion and maintenance services, rose about 14 percent for April-June.

Revenue rose 12.9 percent to $500 million.

Net income fell to $72.26 million, or 33 cents per share, from $73.2 million, or 33 cents per share, a year earlier.

Analysts on average had expected a profit of 30 cents per share on revenue of $501 million, according to Thomson Reuters I/B/E/S.

Shares of the company, valued at $2.68 billion, closed at $12.21 on Tuesday on the New York Stock Exchange.

RPC, Inc. Reports Second Quarter 2012 Financial Results

ATLANTA, July 25, 2012 /PRNewswire/ -- RPC, Inc. (RES) today announced its unaudited results for the second quarter ended June 30, 2012. RPC provides a broad range of specialized oilfield services and equipment to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States and in selected international markets.

For the quarter ended June 30, 2012, revenues increased 12.9 percent to $500,106,000 compared to $443,029,000 in the second quarter last year. Revenues increased compared to the prior year due primarily to a larger fleet of revenue-producing equipment. Operating profit for the quarter was $119,858,000 compared to $119,267,000 in the prior year. Net income for the quarter was $72,260,000 or $0.33 diluted earnings per share, compared to $73,165,000 or $0.33 diluted earnings per share last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 5.3 percent to $172,928,000 compared to $164,150,000 in the prior year.(1)

Cost of revenues was $281,279,000, or 56.2 percent of revenues, during the second quarter of 2012, compared to $242,991,000, or 54.8 percent of revenues, in the prior year. Cost of revenues increased due to the variable nature of these expenses. Cost of revenues as a percentage of revenues increased during the quarter due to an increasingly competitive pricing environment and inefficiencies associated with equipment relocation. These increases were partially offset by favorable variances in the costs of materials and supplies used in providing our services due to changes in job mix.

Selling, general and administrative expenses were $43,115,000 in the second quarter of 2012, a 19.9 percent increase compared to $35,956,000 in the prior year. This increase was primarily due to increases in total employment costs due to higher headcount. As a percentage of revenues, these costs increased slightly to 8.6 percent in 2012 compared to 8.1 percent last year. Depreciation and amortization increased by 20.2 percent to $53,950,000 during the quarter compared to $44,893,000 last year due to assets that have been placed in service during the previous 12 months.

Interest expense decreased from $998,000 last year to $650,000 in 2012 due to lower interest rates, partially offset by a higher average balance under RPC's syndicated revolving credit facility during the quarter as compared to the prior year.

For the six months ended June 30, 2012, revenues increased 21.6 percent to $1,002,663,000 compared to $824,790,000 last year. Net income was $153,015,000 or $0.71 earnings per diluted share, compared to $138,689,000 or $0.63 earnings per diluted share last year.

"During the second quarter of 2012, RPC continued its strong operational execution in an increasingly difficult operating environment," stated Richard A. Hubbell, RPC's President and Chief Executive Officer. "We relocated equipment from dry gas basins to several geographic markets where fundamentals are stronger. Also, we prepared our final fleet of pressure pumping equipment that we ordered to work in the third quarter. The average U.S. domestic rig count during the second quarter was 1,970, a 7.4 percent increase compared to the same period in 2011 but a 1.0 percent decrease compared to the first quarter of this year. The average price of natural gas was $2.29 per Mcf, a 47.4 percent decrease compared to the prior year, and a 4.9 percent decrease compared to the first quarter. The average price of oil was $92.92 per barrel, an 8.8 percent decrease compared to the prior year, and a 9.8 percent decrease compared to the first quarter of 2012. We note that the amount of U.S. domestic drilling activity targeted to oil production continues to increase, and represented 69.7 percent of U.S. domestic drilling activity during the second quarter of 2012. RPC's revenues increased at a greater rate than the domestic rig count due to additions to our coiled tubing and pressure pumping fleets, as well as more equipment and higher activity levels in our downhole tools service line. These improvements were partially offset by pricing decreases in most of our service lines across all of our geographic markets. The decline in natural gas drilling activity, coupled with a growing industry fleet of oilfield service equipment has resulted in downward pricing pressure to varying degrees in all of our markets. Also during the second quarter, the results of our downhole tools service line in Canada were impacted by a spring break up that was longer than average, and our operations in the Rocky Mountains and North Dakota were impacted by road conditions which did not allow us to move our equipment efficiently.

"The competitive pricing environment and our relocation of several equipment fleets during the quarter created labor inefficiencies which contributed to our operating margin decline compared to the prior year. However, our focus over the last two years on the procurement of key raw materials used in providing our services benefited our financial results during the quarter.

"At the end of the second quarter, the balance on our syndicated credit facility was $162.0 million, a decline of $18.8 million compared to the end of the first quarter. Our capital expenditures of $82.8 million were lower than the first quarter, and reflect the decision we made in early to mid-2011 to curtail our growth capital expenditures. Our debt to total capitalization ratio at the end of the quarter was 15.9 percent, the lowest it has been during the time that we have utilized a syndicated credit facility," concluded Hubbell.

Summary of Segment Operating Performance

RPC's business segments are Technical Services and Support Services.

Technical Services includes RPC's oilfield service lines that utilize people and equipment to perform value-added completion, production and maintenance services directly to a customer's well. These services are generally directed toward improving the flow of oil and natural gas from producing formations or to address well control issues. The Technical Services segment includes pressure pumping, coiled tubing, hydraulic workover services, nitrogen, downhole tools, surface pressure control equipment, well control, and fishing tool operations.

Support Services includes RPC's oilfield service lines that provide equipment for customer use or services to assist customer operations. The equipment and services offered include rental of drill pipe and related tools, pipe handling, inspection and storage services and oilfield training services.

Technical Services revenues increased 13.5 percent for the quarter compared to the prior year due primarily to an increase in the fleet of revenue-producing equipment, partially offset by lower pricing for our services within this segment. Support Services revenues increased by 6.0 percent during the quarter compared to the prior year due principally to higher activity levels in most of the service lines within this segment, except for the rental tools service line. Operating profit in Technical Services improved primarily due to higher revenues, partially offset by lower pricing and employee utilization inefficiencies within this segment. Operating Profit in Support Services declined due to lower pricing and utilization in our rental tools service line, the largest service line within this segment.


Continued at:

http://finance.yahoo.com/news/rpc-inc-reports-second-quarter-111500843.html

RES: Q2 EPS 33c vs 33c Beats 30c Est

Wednesday, July 25, 2012 07:29ET

QUARTER RESULTS
RPC Inc. (RES) reported Q2 results ended June 2012. Q2 Revenues were $500.10M; +12.88% vs yr-ago; MISSING revenue consensus by -0.18%. Q2 EPS was 33c; 0.00% vs yr-ago; BEATING earnings consensus by +10.00%.

Q2 RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISE
---------- ------------ ------------ ---------- ------------ ----------
Revenues: $500.10M $443.03M +12.88% $501.00M -0.18%
---------- ------------ ------------ ---------- ------------ ----------
EPS: 33c 33c 0.00% 30c +10.00%
---------- ------------ ------------ ---------- ------------ ----------

http://www.knobias.com/story.htm?eid=3.1.6fc67686819526887ebd8e41bccfd15220b520c5d6491302368e5430525503b1

RES 2Q earnings: 7-25-12 BMO

RPC, Inc. Announces Date for Second Quarter 2012 Financial Results and Conference Call

Tuesday , July 10, 2012 17:00ET




ATLANTA, July 10, 2012 /PRNewswire/ -- RPC, Inc. (NYSE: RES) announced today that it will release its financial results for the second quarter ended June 30, 2012 on Wednesday, July 25, 2012 before the market opens. In conjunction with its earnings release, the Company will host a conference call to review the Company's financial and operating results on Wednesday, July 25, 2012 at 9:00 a.m. Eastern Time.

Individuals wishing to participate in the conference call should dial (888) 378-4350 or (719) 325-2204 for international callers, and use conference ID# 2143829. For interested individuals unable to join by telephone, the call also will be broadcast and archived for 90 days on the Company's investor Web site at www.rpc.net. Interested parties are encouraged to click on the webcast link 10-15 minutes prior to the start of the conference call.

RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets. RPC's investor Web site can be found on the Internet at www.rpc.net.

RPC, Inc. Announces Second Quarter 2012 Share Repurchases
Press Release: RPC, Inc. – 1 hour 42 minutes ago..

http://finance.yahoo.com/news/rpc-inc-announces-second-quarter-123000075.html.

ATLANTA, July 2, 2012 /PRNewswire/ -- RPC, Inc. (RES) announced today that during the second quarter of 2012 it purchased 35,100 shares under its share repurchase program.

RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets. RPC's investor Web site can be found at www.rpc.net.

3 Undervalued, Highly Shorted Stocks With Strong Profitability

http://seekingalpha.com/article/550901-3-undervalued-highly-shorted-stocks-with-strong-profitability?source=yahoo

Invest in Industrials, Dividend Payers: Pros

http://www.cnbc.com/id/47250793?__source=yahoo|headline|quote|text|&par=yahoo

RES Gap 9.41

Tracking



Open Gaps

Direction Date range
up Apr-25-2012 9.41 to 9.51

You're welcome.

Finviz is a good site for keeping in the loop on your stocks.

Most of what I pull is from there.

http://finviz.com/quote.ashx?t=res&ty=c&ta=1&p=d

Good stuff east, thanks for posting

RES: Q1 EPS 37c vs 30c Beats 34c Est

Wednesday, April 25, 2012 07:17ET

QUARTER RESULTS
RPC Inc. (RES) reported Q1 results ended March 2012. Q1 Revenues were $502.60M; +31.65% vs yr-ago; MISSING revenue consensus by -0.42%. Q1 EPS was 37c; +23.33% vs yr-ago; BEATING earnings consensus by +8.82%.

Q1 RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISE
---------- ------------ ------------ ---------- ------------ ----------
Revenues: $502.60M $381.76M +31.65% $504.74M -0.42%
---------- ------------ ------------ ---------- ------------ ----------
EPS: 37c 30c +23.33% 34c +8.82%
---------- ------------ ------------ ---------- ------------ ----------

http://www.knobias.com/story.htm?eid=3.1.dd2adc2282377c4ff234d236bf7efb4ab4f50d00c670f1b18681911d181ce37a

RPC, Inc. Reports First Quarter 2012 Financial Results

- Revenues Increased by 31.6 Percent Compared to the First Quarter of 2011
- Net Income Increased by 23.2 Percent Compared to the First Quarter of 2011
- Diluted EPS Increased to $0.37, Compared to $0.30 in the First Quarter 2011

Press Release: RPC, Inc. –


ATLANTA, April 25, 2012 /PRNewswire/ -- RPC, Inc. (RES) today announced its unaudited results for the first quarter ended March 31, 2012. RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, and in selected international markets.

For the quarter ended March 31, 2012, revenues increased 31.6 percent to $502,557,000 compared to $381,761,000 in the first quarter last year. Revenues increased compared to the prior year due to a larger fleet of revenue-producing equipment, higher activity levels, and a favorable job mix in several service lines. Operating profit for the quarter was $130,857,000 compared to operating profit of $106,326,000 in the prior year. Net income was $80,755,000 or $0.37 diluted earnings per share, compared to net income of $65,524,000 or $0.30 diluted earnings per share last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 25.4 percent to $183,347,000 compared to $146,197,000 in the prior year. [1]

Cost of revenues was $273,799,000, or 54.5 percent of revenues, during the first quarter of 2012, compared to $201,252,000, or 52.7 percent of revenues, in the prior year. Cost of revenues increased due to the variable nature of these expenses. Cost of revenues also increased as a percentage of revenues due to higher employment and fuel costs compared to the prior year, as well as the negative impact of lower pricing for many of our services as compared to the prior year.

Selling, general and administrative expenses were $44,927,000 in the first quarter of 2012, a 24.6 percent increase compared to $36,057,000 in the prior year. This increase was primarily due to increases in headcount to support higher business activity levels. As a percentage of revenues, however, these costs decreased to 8.9 percent in 2012 compared to 9.4 percent last year due to the fixed nature of many of these expenses and our ability to leverage these costs over higher revenues. Depreciation and amortization increased to $51,570,000 during the quarter compared to $39,537,000 last year, due to the capital expenditures made during the last year.

Interest expense decreased from $1,079,000 last year to $596,000 in 2012 due to lower interest rates during the quarter under RPC's syndicated revolving credit facility as compared to the prior year, partially offset by a higher average balance on the facility.

"During the first quarter of 2012, RPC benefited from a larger fleet of revenue-producing equipment and high activity levels in the oil-directed domestic basins in which we operate," stated Richard A. Hubbell, RPC's President and Chief Executive Officer. "We placed equipment in service which we ordered during 2011, and continued to improve our management of the logistical issues and procurement of many of the raw materials used in providing our services. These factors combined to allow us to generate both sequential and year-over year improvements in revenues and net income. From an industry perspective, the average domestic rig count during the first quarter was 1,990, a 16.0 percent increase compared to the same period in 2011 but a 1.0 percent decrease compared to the fourth quarter of 2011. The average price of natural gas was $2.41 per Mcf, a 41.9 percent decrease compared to the prior year, and a 25.4 percent decrease compared to the fourth quarter of 2011. In contrast to the price of natural gas, the average price of oil rose during the quarter. The average price of oil during the quarter was $102.99 per barrel, a 9.6 percent increase compared to the prior year, and an 8.9 percent increase compared to the fourth quarter of 2011. The unconventional rig count, which is a more important indicator of the demand for RPC's services, increased by 15.4 percent compared to the prior year, and during the first quarter of 2012 represented 69.8 percent of U.S. domestic drilling activity.

"While we are pleased with our first quarter results, the decline in natural gas drilling activity and natural gas prices continues to impact RPC's overall activity levels and pricing for many of our services. While the overall rig count remains high, activity levels in many of the natural gas-directed shale plays are declining. Our response to this trend includes redeploying equipment and personnel from these areas of lower activity to basins that are more oil-directed. While RPC has operational facilities in most of these areas, and believes we will be able to accomplish this transition smoothly, there is the risk of some operational disruption. We remain concerned about competitive pressures which are likely to continue in the near term, given low natural gas prices.

"During the first quarter of 2012 we invested over $121 million in new equipment and capitalized improvements. Most of these capital expenditures funded purchases of revenue-producing equipment ordered in 2011. In addition, we purchased approximately 2.6 million shares of common stock and made the largest dividend payment in our history. In spite of these uses of cash, the balance on our syndicated credit facility has declined since the end of 2011, and I am pleased to report that we have a ratio of debt to total capitalization of only 18 percent.

"We remain cautious about near-term domestic drilling activity levels due to natural gas prices which are at a 10-year low. We will continue our allocation of resources to domestic basins which show the highest potential in an environment of continued high oil prices. In addition, we will monitor discretionary spending and scrutinize capital expenditures as we manage our company to achieve long-term shareholder value," concluded Hubbell.

Summary of Segment Operating Performance

RPC's business segments are Technical Services and Support Services.

Technical Services includes RPC's oilfield service lines that utilize people and equipment to perform value-added completion, production and maintenance services directly to a customer's well. These services are generally directed toward improving the flow of oil and natural gas from producing formations or to address well control issues. The Technical Services segment includes pressure pumping, coiled tubing, hydraulic workover services, nitrogen, downhole tools, surface pressure control equipment, well control, and fishing tool operations.

Support Services includes RPC's oilfield service lines that provide equipment for customer use or services to assist customer operations. The equipment and services offered include rental of drill pipe and related tools, pipe handling, inspection and storage services and oilfield training services.

Technical Services revenues increased 32.1 percent for the quarter compared to the prior year primarily due to an increase in the fleet of revenue-producing equipment and high activity levels. Support Services revenues increased by 26.8 percent during the quarter compared to the prior year due principally to improved utilization and a favorable job mix in the rental tool service line, which is the largest service line within this segment. Operating profit in both Technical and Support Services improved due to higher revenues.


Financials continued at:

http://finance.yahoo.com/news/rpc-inc-reports-first-quarter-111500300.html

RPC, Inc. Announces Regular Quarterly Cash Dividend
Press Release: RPC, Inc. –

http://finance.yahoo.com/news/rpc-inc-announces-regular-quarterly-111500550.html

ATLANTA, April 25, 2012 /PRNewswire/ -- RPC, Inc. (RES) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.08 per share payable June 8, 2012 to common stockholders of record at the close of business on May 10, 2012.

Dividend history:


http://www.dividendinvestor.com/historical.php?no=30054

Good dividends here?

RES 1Q earnings 4-25-12 BMO

RPC, Inc. Announces Date for First Quarter 2012 Financial Results and Conference Call


ATLANTA, April 10, 2012 /PRNewswire/ -- RPC, Inc. (NYSE: RES) announced today that it will release its financial results for the first quarter ended March 31, 2012 on Wednesday, April 25, 2012 before the market opens. In conjunction with its earnings release, the Company will host a conference call to review the Company's financial and operating results on Wednesday, April 25, 2012 at 9:00 a.m. Eastern Time.

Individuals wishing to participate in the conference call should dial (877) 440-5787 or (719) 325-2484 for international callers, and use conference ID# 7451001. For interested individuals unable to join by telephone, the call also will be broadcast and archived for 90 days on the Company's investor Web site at www.rpc.net. Interested parties are encouraged to click on the webcast link 10-15 minutes prior to the start of the conference call.

RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets. RPC's investor Web site can be found on the Internet at www.rpc.net.

Warren Buffet: "I realized technical analysis didn't work, when I turned the charts upside down and didn't get a different answer."

Peter Lynch: "Charts are great for predicting the past."

StoXline



Technical Analysis
as of: 2012-04-03 11:53:40 AM

http://www.stoxline.com/quote.php?symbol=res


Overall


Our rating system posted a SELL today, same as yesterday. The market seems to continue bearish move. So you may continue to hold short positions or sell your long positions. You are relatively safe to short or sell now, downward move is expected.

Target
Six months: 12.94 One year: 14.23

Support
Support1: 9.30 Support2: 7.74

Resistance
Resistance1: 11.08 Resistance2: 12.18

Pivot
10.42

Moving Averages
MA(5): 10.68 MA(20): 10.37

MA(100): 11.45 MA(250): 13.47

MACD
MACD(12,26): 0.02 Signal(12,26,9): -0.01

Stochastic Oscillator
%K(14,3): 34.22 %D(3): 60.14

RSI
RSI(14): 45.55

52-Week
High: 18.99 Low: 9.30 Change(%): -35.3

Average Volume(K)
3-Month: 2673 10-Days 1570
Price and moving averages

Price and moving averages has closed below its Short term moving average. Short term moving average is currently above mid-term; AND below long term moving averages. From the relationship between price and moving averages; we can see that: This stock is NEUTRAL in short-term; and NEUTRAL in mid-long term.

Bollinger Bands

RES has closed above bottom band by 28.3%. Bollinger Bands are 48.7% narrower than normal. The narrow width of the bands suggests low volatility as compared to RES's normal range. The bands have been in this narrow range for 11 bars. This is a sign that the market may be about to initiate a new trend.

RES Analysis

http://www.stockta.com/cgi-bin/analysis.pl?symb=res&num1=1&cobrand=&mode=stock

Support/Resistance
Type Value Conf.
resist. 14.61 2
resist. 14.33 2
resist. 13.95 2
resist. 13.35 2
resist. 13.11 2
resist. 12.69 3
resist. 12.12 6
resist. 11.65 3
resist. 11.45 3
resist. 11.13 3
resist. 10.96 3
resist. 10.69 5
resist. 10.45 4
supp 10.00 5
supp 9.47 5

Finviz charts:

http://finviz.com/quote.ashx?t=RES&ty=c&ta=1&p=d

RPC, Inc. Announces Share Repurchases in the First Quarter of 2012

http://finance.yahoo.com/news/rpc-inc-announces-share-repurchases-123000177.html

ATLANTA, April 2, 2012 /PRNewswire/ -- RPC, Inc. (NYSE: RES - News) announced today that during the first quarter of 2012 it purchased 2,587,150 shares (adjusted for the three-for-two split effective March 9, 2012) under its share repurchase program.

RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets. RPC's investor Web site can be found at www.rpc.net.

RPC, MOCON Have Limited Downside

http://seekingalpha.com/article/466911-rpc-mocon-have-limited-downside?source=yahoo

March 29, 2012 The run up in stock prices over the past few months has reduced the number of stocks available at prices with limited downside risk. Two companies that currently fit this criterion are RPC Inc. (RES) and MOCON (MOCO). RPC inc. is a holding company for several oilfield services companies. MOCON manufactures and provides services in the test, measurement and analytical instrumentation market.

RPC Inc.

RPC Inc., headquartered in Atlanta, Georgia, provides oilfield services and equipment to oil and gas companies engaged in the exploration, production and development of oil and gas properties. The company has been aggregated into two reportable business segments - Technical Services and Support Services. Technical Services segment performs value-added completion, production and maintenance services directly to a customer's well. Support Services that primarily provide equipment for customer use or services to assist customer operations. RPC has historically operated in several countries outside of the United States, although international revenues have never accounted for more than 10 percent of total revenues.

Unconventional drilling activity, which requires more of RPC's services, has grown steadily over the past several years and was 70 percent of total wells drilled during 2011. This in conjunction with an increase in U.S. domestic oilfield activity largely accounts for the increase in revenues from $1,096m in 2010 to $1,809m in 2011. The company estimates that 45 percent of 2011 revenues were related to drilling and production activities for oil, and 55 percent were related to drilling and production activities for natural gas. In the Technical Services segment, pressure pumping services accounted for approximately 55 percent of 2011 revenues. In the Support Services Rental tools accounted for approximately six percent of 2011 revenues. In 2011, only one customer, Chesapeake Energy Corporation at approximately 12 percent of revenues, accounted for more than 10 percent of the company's revenues.

The growth in revenues has resulted in a doubling of net operating profit after taxes from 2010 to 2011. Free cash flow has been negative, and increasingly so for both years. This however is offset by an increase in return on invested capital from ~ 24% in 2010 to ~ 38% in 2011. In order to achieve higher growth rates the company is in effect reinvesting its cash flow and then some. As long as the return on new invested capital is greater than its weighted average cost of capital (~9%), this strategy will result in greater value over the long run. In 2011 negative cash flow was largely driven by increase in equipment purchases. The company believes that this equipment will produce high financial returns in the future.

Since a large percentage of U.S. drilling is directed towards natural gas, the low price of natural gas has negative implications for the company's activities in the near term. This has however been offset by the rising price of oil and increased activity in U.S. domestic shale resources, which produce oil and petroleum liquids. The Company expects consolidated revenues to increase and financial performance to improve in 2012 compared to 2011.

Assuming that return on invested capital (~ $1.2b) will come in at about 30% for 2012 and no change in the weighted average cost of capital (WACC), a worst case valuation for this stock puts its value at around $7. This assumes that in subsequent years, return on invested capital will just match the weighted average cost of capital and thus no value is created. Based on past performance, this is an extremely unlikely scenario. A very conservative valuation that projects the spread between return on invested capital and WACC at 5% and the company continuing to grow its net operating profit after taxes at a rate of 1% from a base value of ~ $350m (beyond 2012) gives the stock a value of ~$9.

The company has returned value to shareholders in the form of regular dividends over the last five years including 2009. A significant portion of the stock's value depends on the management's ability to reinvest capital at a rate of return exceeding its cost. From the most recent 10-K:

RPC's executive officers, directors and their affiliates hold directly or through indirect beneficial ownership, in the aggregate, approximately 71 percent of RPC's outstanding shares of common stock.

Management thus has a strong incentive to create value for its public stockholders.

(Continue - via link - for info on the other company.)

I HEARD FROM MY BROKER

Carmine,
Where is this news from? I have not heard this yet.

RES

rumor has it this is getting bought out this is what i heard today

What's up with the sudden upticks today? It moves pretty good usually but not like this A/H? Anyone?

RES:

2-22-12

16.41

March 10 (will see pps adjustment for 3/2 forward split)

(The additional share of common stock will be distributed on March 9, 2012 to holders of record at the close of business on February 10, 2012.)

http://finance.yahoo.com/news/RPC-Inc-Announces-Stock-Split-prnews-782561741.html?x=0

8 Oversold Stocks With High Profitability

http://seekingalpha.com/article/369781-8-oversold-stocks-with-high-profitability?source=yahoo

RPC Inc. (RES): Provides a range of oilfield services and equipment to the oil and gas companies primarily in the United States. RSI(14) at 29.46. TTM gross margin at 45.15% vs. industry average at 35.33%. TTM operating margin at 26.85% vs. industry average at 18.36%. TTM pretax margin at 26.46% vs. industry average at 16.28%.

Standpoint Research Starts RPC Inc. (RES) at Buy; Oversold Shares Present Opportunity


February 15, 2012 10:14 AM EST

Standpoint Research initiates coverage on RPC Inc. (NYSE: RES) with a Buy. PT $21.00.

Analyst, Ronnie Moas, said, "With Natural Gas trading at $2.50 and down 50% from June 2011 prices, we want to add a name that will benefit from a rebound there...RPC has been oversold on bad news and concerns with relative strength now in the bottom 10%...This oftentimes is a sign of a near-sighted market over-reaction...RES is a volatile stock and 71% of the shares are controlled by insiders; there has been no selling.

Five-year average ROE is 30%..The stock was recently hit on concerns CHK would cut spending by 25%, and CHK is RPC’s biggest customer (accounting for 10%-15% of revenues). In a worst-case scenario, RPC takes a 3%-4% hit to its top-line because of CHK. The company is not too concerned about spending cuts from other customers."

RPC's CEO Discusses Q4 2011 Results - Earnings Call Transcript

http://seekingalpha.com/article/322013-rpc-s-ceo-discusses-q4-2011-results-earnings-call-transcript?source=yahoo