RES
RPC, Inc.5.49
-0.25-4.36%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Cautious on weather, pricing discipline
Q&A underscored caution on unquantified early-Q1 weather disruptions in Permian and Mid-Con, amplifying prepared remarks on lost days. Management needs higher pricing and steady work before reactivating October's idled pressure pumping fleet—no panic mode. Slight competitor stress, with some equipment fleeing overseas and weaker players consolidating, hints at potential relief. Buybacks sit in the toolkit but nothing imminent; M&A stays patient amid few rival bidders, eyeing broader energy edges. 2026 CapEx guidance ($150M-$180M) is conservative and scrutable for FCF upside. Rental weakness proved temporary delays. Discipline rules.
Key Stats
Market Cap
1.21BP/E (TTM)
24.95Basic EPS (TTM)
0.22Dividend Yield
0.03%Recent Filings
10-K
FY2025 results
RPC's FY2025 revenues climbed 15% y/y to $1.6B, fueled by Pintail's $296M wireline contribution after its April acquisition, yet pressure pumping plunged 17% y/y to $485M amid rig count drops and pricing wars. Operating income halved to $45M as margins squeezed despite steady Adjusted EBITDA near $233M; net income fell to $32M or $0.15/share. Q4 momentum hinged on Pintail integration, with Technical Services (94% of sales) holding firm while Support Services ticked up 2% y/y. Cash from operations dropped to $201M, free cash flow to $53M after $148M capex; $210M cash cushions $20M Seller Note due 2026, no revolver draws. $150-180M capex eyed for 2026 maintenance. Oil price volatility threatens activity.
8-K
Q4 revenues drop 5%
RPC reported Q4 2025 revenues of $425.8M, down 5% sequentially amid holiday slowdowns and customer pullbacks, swinging to a $3.1M net loss from Q3 profits. Adjusted net income hit $9.4M with EBITDA at $55.1M (12.9% margin), stung by $4.6M wireline cable expensing. Full-year revenues rose 15% to $1.6B on Pintail acquisition. Cash pile: $210M.
8-K
Nix retires; dividend declared
RPC director Jerry Nix won't seek reelection at the 2026 annual meeting but serves through his term as Lead Independent Director and key committee chairs—no disagreements noted. Board declared regular quarterly dividend of $0.04 per share, payable March 10 to holders of record February 10. Steady payout signals board confidence.
10-Q
Q3 FY2025 results
RPC's Q3 revenues climbed 32.4% year-over-year to $447.1M, fueled by $99.8M from the April 2025 Pintail acquisition in the Permian Basin's wireline services, though pressure pumping dipped amid fierce competition and a 7.8% rig count drop. Operating income edged up 8.3% to $20.8M, but net income fell to $13.0M or $0.06 diluted EPS from $18.8M or $0.09, pressured by $6.5M in acquisition-related employment costs and a 42.6% tax rate from non-deductible items. Year-to-date, revenues rose 11.2% to $1.2B while net income slid to $35.1M or $0.16 EPS, reflecting Pintail's $198.6M contribution offset by softer pricing. Cash dipped to $163.5M after $165.7M for the deal and $117.8M capex, yet $84.2M remains available on the $100M revolver; free cash flow (derived) totaled $21.7M on $139.5M operating cash. The Pintail buy closed April 1 for $170M cash plus $25M stock and a $50M seller note at SOFR+2%, adding $23.4M goodwill and $97.3M intangibles over 10 years. Acquisition costs hit margins hard. Yet competition in oversupplied pressure pumping lingers as a key risk.
8-K
RPC Q3 revenues up 6%
RPC, Inc. reported third-quarter 2025 revenues of $447.1 million, up 6% sequentially, driven by 14% growth in pressure pumping and gains in coiled tubing and downhole tools amid stabilizing activity in August and September. Net income rose 28% to $13.0 million, with adjusted EBITDA climbing 10% to $72.3 million and margin expanding to 16.2%. Yet oil prices below $60 a barrel signal Q4 headwinds. RPC declared a $0.04 quarterly dividend.
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