Financial Performance - Revenues for Q1 2025 were $332.9 million, a decrease of 1% sequentially from Q4 2024[5]. - Net income was $12 million, down 6% sequentially, with diluted EPS at $0.06; net income margin decreased by 20 basis points to 3.6%[5][11]. - EBITDA increased by 6% sequentially to $48.9 million, with an EBITDA margin of 14.7%, up 100 basis points[5][12]. - Revenues for Q1 2025 were $332,877 thousand, a decrease of 11.9% compared to $377,833 thousand in Q1 2024[24]. - Net income for Q1 2025 was $12,030 thousand, down 56.2% from $27,467 thousand in Q1 2024[24]. - EBITDA for Q1 2025 was $48,894 thousand, representing an EBITDA margin of 14.7% compared to 16.7% in Q1 2024[30]. - Operating income increased to $12,386 thousand in Q1 2025 from $10,517 thousand in Q4 2024, reflecting a 17.7% quarter-over-quarter growth[24]. Cash Flow and Liquidity - Cash and cash equivalents at the end of Q1 2025 were $326.7 million, with no outstanding borrowings under the $100 million revolving credit facility[13]. - Net cash provided by operating activities was $39.9 million, and free cash flow was $7.6 million in Q1 2025[14]. - Free cash flow for Q1 2025 was $7,595 thousand, an increase from $3,781 thousand in Q1 2024[31]. - The company reported a net cash provided by operating activities of $39,865 thousand in Q1 2025, compared to $56,559 thousand in Q1 2024[31]. - Cash and cash equivalents at the end of Q1 2025 were $326,724 thousand, slightly up from $325,975 thousand at the end of 2024[26]. Expenses and Costs - Cost of revenues decreased by 3% to $243.9 million, contributing to improved operating income[9]. - Selling, general and administrative expenses rose to $42.5 million, representing 12.8% of revenues, an increase of 50 basis points[10]. - Capital expenditures in Q1 2025 were $32,270 thousand, down from $52,778 thousand in Q1 2024[26]. Acquisitions and Market Activity - The company completed the acquisition of Pintail Completions on April 1, 2025, which generated over $400 million in revenues in 2024[5]. - The average U.S. rig count increased by 0.3% to 588 in Q1 2025, while oil prices rose by 1.9% to $71.93 per barrel[7]. Assets and Liabilities - Total assets decreased to $1,345,919 thousand as of March 31, 2025, down from $1,386,489 thousand at the end of 2024[25]. - Total liabilities decreased to $264,333 thousand as of March 31, 2025, compared to $308,198 thousand at the end of 2024[25]. Dividends - The company declared a regular quarterly cash dividend of $0.04 per share, payable on June 10, 2025[15].

Core Viewpoint - RPC, Inc. reported its first quarter 2025 results, highlighting a stable performance across most service lines and the successful acquisition of Pintail Completions, which is expected to enhance RPC's service offerings in the Permian region [4][6]. Financial Performance - Revenues for Q1 2025 were $332.9 million, a decrease of 1% from Q4 2024, with pressure pumping revenues remaining flat and other service lines combined decreasing by 1% [6][14]. - Net income was $12 million, down 6% sequentially, with diluted EPS at $0.06, reflecting a decrease in net income margin to 3.6% [10][11]. - EBITDA increased by 6% sequentially to $48.9 million, with an EBITDA margin of 14.7%, up 100 basis points from the previous quarter [11][12]. Acquisition Details - The acquisition of Pintail Completions, effective April 1, 2025, is expected to bring significant operational benefits, as Pintail generated over $400 million in revenues in 2024 and is recognized for its strong profitability and customer service [6][12]. Industry Context - The U.S. rig count averaged 588 in Q1 2025, a slight increase of 0.3% from Q4 2024, but down 5.6% year-over-year [5]. - Oil prices averaged $71.93 per barrel, a 1.9% increase from the previous quarter but a 7.1% decrease compared to the same quarter last year [5]. - Natural gas prices saw a significant increase of 70.4% sequentially, averaging $4.14 per Mcf [5]. Cost Management - Cost of revenues decreased by 3% to $243.9 million, contributing to improved operating income, primarily due to reduced fleet and transportation costs [8][10]. - Selling, general and administrative expenses rose to $42.5 million, reflecting increased IT system implementation costs [9][10]. Cash Flow and Capital Allocation - Net cash provided by operating activities was $39.9 million, with free cash flow at $7.6 million for Q1 2025 [13][30]. - The company declared a quarterly cash dividend of $0.04 per share, payable on June 10, 2025 [13].

Core Points - RPC, Inc. will release its financial results for Q1 2025 on April 24, 2025, before market opens [1] - A conference call to discuss the financial and operating results will take place on the same day at 9:00 a.m. Eastern Time [1] - The company provides specialized oilfield services and equipment primarily to independent and major oilfield companies in the U.S. and selected international markets [3] Conference Call Details - Participants can join the conference call by dialing toll-free (888) 440-5966 or (646) 960-0125 for international callers, using conference ID number 9842359 [2] - The call will also be broadcast and archived for 90 days on the company's investor website for those unable to join by telephone [2] - Interested parties are encouraged to access the webcast link 10-15 minutes prior to the start of the call [2]

Group 1: Acquisition Overview - RPC Inc. has acquired Pintail Completions for approximately $245 million, enhancing its presence in the Permian Basin [1][6] - The acquisition is structured with $170 million in cash, $25 million in restricted RPC stock, and a $50 million three-year note [6] Group 2: Strategic Alignment - Pintail Completions is a leading wireline service provider with over 30 active fleets, aligning with RPC's strategy of focusing on high-margin, cash-generating assets [2][3] - The acquisition is expected to enhance RPC's standing in the Midland and Delaware basins, which are the most prolific oil-producing regions in the U.S. [2][3] Group 3: Financial Impact - Pintail generated approximately $409 million in revenues in 2024, indicating a strong market position [3] - The acquisition is anticipated to be accretive to RPC's earnings per share and free cash flow in 2025 [3][4] Group 4: Operational Synergy - Pintail's advanced equipment and reputation for service excellence are expected to create operational synergies for RPC [3][4] - The acquisition allows Pintail to maintain operational independence while benefiting from RPC's platform [5]

Core Viewpoint - RPC, Inc. has acquired Pintail Alternative Energy, L.L.C. for approximately $245 million, enhancing its position in the oilfield services sector, particularly in wireline services within the Permian basin [1][7]. Strategic Highlights - The acquisition aligns with RPC's strategy to focus on service lines that yield strong margins and high free cash flow conversion [7]. - Pintail is recognized as a leader in wireline perforation services, complementing RPC's existing service offerings [3][7]. - The acquisition is expected to be accretive to RPC's earnings per share and operating and free cash flow in 2025 [7]. Transaction Details - The purchase price of $245 million consists of approximately $170 million in cash, $25 million in RPC restricted stock, and a $50 million three-year note [8]. - The agreement includes customary post-closing adjustments related to Pintail's working capital [8]. Company Overview - RPC provides a wide range of specialized oilfield services and equipment to independent and major oilfield companies across various U.S. regions and selected international markets [5]. - Pintail operates over 30 active fleets, with its wireline units being among the newest in the industry [7].

Financial Performance - Revenues for 2024 totaled $1.4 billion, a decrease of 12.5% compared to 2023, primarily due to lower industry activity levels and competitive pricing [139]. - Operating profit for 2024 was $97.5 million, a 60.2% decrease from the prior year, attributed to lower industry activity and reduced fixed cost absorption [140]. - Net income for 2024 was $91.4 million, or $0.43 earnings per share, compared to $195.1 million, or $0.90 earnings per share in 2023 [140]. - Adjusted EBITDA for 2024 was $233.0 million, with an Adjusted EBITDA margin of 16.5%, down from $374.4 million and 23.1% in 2023 [162]. - Net income for the year ended December 31, 2024, was $91.4 million, a decrease of 53.2% compared to $195.1 million in 2023 [168]. - Revenues for 2024 were $1.415 billion, down 12.5% from $1.617 billion in 2023 [168]. - Adjusted EBITDA for 2024 was $233.0 million, a decline of 37.8% from $374.4 million in 2023 [168]. - Free cash flow decreased to $129.5 million in 2024 from $213.8 million in 2023, reflecting a reduction of 39.3% [170]. Cash Flow and Capital Expenditures - Cash provided by operating activities decreased to $349.4 million in 2024 from $394.8 million in 2023 [163]. - Free cash flow decreased to $129.5 million in 2024 from $213.8 million in 2023, primarily due to lower net income and increased capital expenditures [163]. - Capital expenditures totaled $219.9 million in 2024, including the purchase of a new Tier 4 dual-fuel fleet [141]. - Capital expenditures rose to $219.9 million in 2024, up from $181.0 million in 2023, primarily due to the purchase of a new pressure pumping fleet [171]. - The company expects capital expenditures to be between $150 million and $200 million in 2025, focusing on maintenance and growth opportunities [176]. Segment Performance - Technical Services segment revenues were $1.3 billion in 2024, a 12.5% decrease compared to the prior year, driven by lower pressure pumping activity [152]. - Support Services segment revenues decreased by 12.2% in 2024, primarily due to lower activity levels within rental tools [152]. Tax and Financial Position - The effective tax provision rate was 18.9% for 2024, down from 23.9% in the prior year, due to beneficial discrete adjustments on decreased pretax income [160]. - Cash and cash equivalents increased to $326.0 million as of December 31, 2024, compared to $223.3 million in 2023 [169]. Shareholder Returns and Future Outlook - The company has a stock buyback program with 12.8 million shares remaining available for repurchase as of December 31, 2024 [178]. - The company declared a quarterly cash dividend of $0.04 per share, payable on March 10, 2025 [181]. - The company anticipates that long-term demand for oil and natural gas will drive increased activity in its operating basins [183]. Risk Management - The Company is subject to interest rate risk exposure through borrowings on its revolving credit facility, with no outstanding interest-bearing advances as of December 31, 2024 [200]. - The Company is exposed to foreign exchange rate risk; however, the majority of transactions occur in U.S. currency, minimizing material effects on financial results [201]. Business Combinations and Impairment Testing - The Company conducts impairment tests on long-lived assets whenever events indicate that the carrying value may not be recoverable, comparing estimated future undiscounted cash flows to the carrying amount [194]. - The acquisition of a business requires recognizing assets and liabilities at acquisition date fair values, with any excess consideration recorded as goodwill [195]. - Adjustments to the assets acquired and liabilities assumed may occur during the measurement period, which can last up to one year from the acquisition date [196]. - Management must make significant estimates and assumptions during business combinations, including for intangible assets and contingent considerations [198].

Core Viewpoint - RPC Inc. reported fourth-quarter 2024 adjusted earnings of 6 cents per share, matching the Zacks Consensus Estimate, but down from 19 cents in the previous year. Total revenues were $335.4 million, a decrease from $394.5 million year-over-year, yet exceeded the Zacks Consensus Estimate of $317 million [1]. Financial Performance - The in-line quarterly earnings were supported by improved pressure pumping activity and a reduction in the cost of revenues, although these positives were partially offset by lower activity in rental tools and increased selling, general and administrative costs [2]. - Total operating profit for the quarter was $10.5 million, significantly lower than $49.2 million in the year-ago quarter. The Technical Services segment's operating profit was $10.6 million, down from $46.4 million, primarily due to higher direct costs [3][4]. Revenue and Costs - The average oil price during the quarter was $70.59 per barrel, reflecting a 10.1% decline year-over-year, while the average price of natural gas was $2.43 per thousand cubic feet, down 11.3% from the same period in 2023 [5]. - The cost of revenues decreased to $250.2 million from $279.4 million in the prior-year period, while selling, general and administrative expenses rose to $41.2 million from $38.1 million [6]. Capital Expenditure and Financial Position - RPC's total capital expenditure for the quarter was $219.9 million. As of December 31, the company had cash and cash equivalents of $326 million and maintained a debt-free balance sheet [7]. - The company forecasts capital spending to be in the range of $150-$200 million for 2025 [8].

分组1 - RPC reported quarterly earnings of $0.06 per share, matching the Zacks Consensus Estimate, but down from $0.19 per share a year ago [1] - The company posted revenues of $335.36 million for the quarter, exceeding the Zacks Consensus Estimate by 5.89%, but down from $394.53 million year-over-year [2] - RPC shares have increased approximately 8.1% since the beginning of the year, outperforming the S&P 500's gain of 2.7% [3] 分组2 - The company's earnings outlook is crucial for investors, with current consensus EPS estimate at $0.07 for the next quarter and $0.34 for the current fiscal year [7] - The Zacks Industry Rank indicates that the Oil and Gas - Field Services sector is in the bottom 16% of over 250 Zacks industries, which may impact stock performance [8] 分组3 - RPC has surpassed consensus EPS estimates only once in the last four quarters, indicating a mixed trend in estimate revisions [6] - The upcoming earnings report from Weatherford, another company in the same industry, is expected to show a year-over-year earnings decline of 25.8% [9]

Financial Performance - Revenues for Q4 2024 were $335.4 million, a decrease of 1% sequentially, and down 13% year-over-year to $1.4 billion[8][11] - Net income for Q4 2024 was $12.8 million, down 32% sequentially, with diluted EPS of $0.06 and a net income margin of 3.8%[8][14] - Adjusted EBITDA for Q4 2024 was $46.1 million, down 17% sequentially, with an adjusted EBITDA margin of 13.7%[8][15] - Revenues for Q4 2024 were $335,361 thousand, a decrease of 15% compared to $394,531 thousand in Q4 2023[29] - Operating income for Q4 2024 was $10,517 thousand, down from $97,538 thousand in Q4 2023, representing a decline of 89%[29] - Net income for the year ended December 31, 2024, was $91,444 thousand, a decrease of 53% from $195,113 thousand in 2023[31] - Adjusted net income for the year ended December 31, 2024, was $91,444 thousand, compared to $209,029 thousand in 2023, indicating a decline of 56%[37] - Basic earnings per share for Q4 2024 were $0.06, down from $0.19 in Q4 2023[29] - Net income for Q4 2024 was $12,762,000, a decrease of 32.5% from $18,796,000 in Q3 2024 and a decrease of 68.3% from $40,259,000 in Q4 2023[38] - Adjusted EBITDA for Q4 2024 was $46,071,000, down 16.6% from $55,243,000 in Q3 2024 and down 42.0% from $79,459,000 in Q4 2023[38] - Revenues for Q4 2024 were $335,361,000, a slight decrease of 0.4% from $337,652,000 in Q3 2024 and a decrease of 15.0% from $394,531,000 in Q4 2023[38] - Net income margin for Q4 2024 was 3.8%, down from 5.6% in Q3 2024 and down from 10.2% in Q4 2023[38] - Adjusted EBITDA margin for Q4 2024 was 13.7%, down from 16.4% in Q3 2024 and down from 20.1% in Q4 2023[38] - Net cash provided by operating activities for the year ended December 31, 2024, was $349,386,000, a decrease of 11.5% from $394,763,000 in 2023[39] - Free cash flow for the year ended December 31, 2024, was $129,456,000, a decrease of 39.4% from $213,758,000 in 2023[39] Capital Expenditures and Investments - The company plans to invest between $150 million to $200 million in capital spending in 2025, focusing on innovation and new product development[9][27] - Capital expenditures for the year were $219,930 thousand, an increase from $181,005 thousand in 2023[31] - Capital expenditures for the year ended December 31, 2024, were $219,930,000, an increase of 21.5% from $181,005,000 in 2023[39] Cash and Debt Position - RPC remains debt-free with over $300 million in cash at year-end 2024, allowing for funding of organic investments and potential acquisitions[9][27] - Cash and cash equivalents increased to $325,975 thousand at the end of 2024, up from $223,310 thousand at the end of 2023[30] - Total assets rose to $1,386,489 thousand in 2024, compared to $1,286,845 thousand in 2023, reflecting a growth of 7.8%[30] - Total liabilities increased to $308,198 thousand in 2024, compared to $264,332 thousand in 2023, marking a rise of 16.6%[30] - The company reported a net cash provided by operating activities of $349,386 thousand for the year, down from $394,763 thousand in 2023[31] Market Conditions - The average U.S. rig count remained unchanged at 586 in Q4 2024, down 5.8% from 622 in Q4 2023[10] - Oil prices averaged $70.59 per barrel in Q4 2024, a decrease of 7.8% sequentially and down 10.1% year-over-year[10] Shareholder Actions - The company repurchased $9.9 million of common stock in 2024, including $7.5 million under its buyback program[8][19] Product Development - Pressure pumping revenues increased by 3% sequentially, driven by improved asset utilization, while other service lines experienced seasonal softness[11][12] - New product launches in downhole tools are expected to contribute more significantly in 2025 following early positive results in 2024[7][27]

Core Insights - RPC, Inc. reported a slight sequential improvement in pressure pumping results for Q4 2024, although overall business activity was soft due to typical lower customer activity in the fourth quarter [4] - The company is optimistic about new products and services in downhole tools gaining traction in 2025, with planned capital spending between $150 million and $200 million [4][20] - RPC maintains a strong balance sheet with over $300 million in cash at year-end, allowing for organic investments, potential acquisitions, and capital returns to investors [4][11] Financial Performance - Q4 2024 revenues were $335.4 million, down 1% sequentially, with pressure pumping revenues increasing by 3% while other service lines decreased by 3% [6][13] - Net income for Q4 2024 was $12.8 million, a decrease of 32% sequentially, with diluted EPS at $0.06 [9][13] - Adjusted EBITDA for Q4 2024 was $46.1 million, down 17% sequentially, with an adjusted EBITDA margin of 13.7% [10][13] Industry Data - The average U.S. rig count remained unchanged at 586 in Q4 2024, down from 622 in Q4 2023, reflecting a 5.8% decrease [5] - Oil prices averaged $70.59 per barrel in Q4 2024, down 7.8% from $76.57 in Q3 2024 and down 10.1% from $78.52 in Q4 2023 [5] - Natural gas prices increased by 15.7% sequentially to $2.43 per Mcf, but decreased by 11.3% year-over-year [5] Operational Insights - Cost of revenues for Q4 2024 was $250.2 million, up 1% from the previous quarter, primarily due to higher insurance costs [7][13] - Selling, general and administrative expenses increased to $41.2 million, representing 12.3% of revenues, up from 11.2% in the previous quarter [8][13] - The company reported a net cash flow from operating activities of $349.4 million and free cash flow of $129.5 million for the full year 2024 [12][13]