Financial Data and Key Metrics - Total revenues declined by 4% to $364 million, primarily driven by a 17% decrease in pressure pumping revenues, while other service lines collectively grew by 8% [9][20] - EBITDA increased by 9% sequentially to $68.5 million, with EBITDA margins rising by 210 basis points to 18.8% [24] - Diluted EPS was $0.15, up from $0.13 in the previous quarter, with no non-GAAP adjustments [24] - Operating cash flow was $127.9 million, and free cash flow was $52.9 million after $75 million in CapEx [25] - The company maintained a strong balance sheet with $261.5 million in cash at the end of the quarter [26] Business Line Performance - Pressure pumping revenues declined by 17%, representing 40.4% of total revenues, while downhole tools grew by 7% to $100 million, coiled tubing grew by 18%, cementing increased by 1%, and rental tools grew by 9% [9][15][17][18][21] - Non-pressure pumping service lines collectively grew by 8%, demonstrating the strength and diversity of the company's portfolio [9][18] - The company's Tier 4 DGB fleets were highly utilized, with strong demand from semi-dedicated customers, and a new Tier 4 DGB fleet was deployed, bringing the total to three [11] Market and Competitive Landscape - The frac market remains highly competitive, with pricing stabilizing but activity in the spot and semi-dedicated markets remaining soft [9] - The company expects challenging conditions to force less well-capitalized smaller players out of the market, potentially reducing supply over time [13] - The rig count remains soft, with hopes of stabilization in the near term and potential growth not expected until next year [13] Strategic Direction and Industry Competition - The company is focused on controlling costs, evaluating additional efficiency actions, and maintaining a disciplined operating and financial approach [14] - Potential future investments include upgrades to frac fleets and acquisitions, particularly in non-pressure pumping service lines such as coiled tubing, downhole tools, wireline, and cementing [28][30] - The company is cautious about electric fleets, preferring to wait for technology and customer preferences to evolve before making significant investments [29] Management Commentary on Operating Environment and Future Outlook - Management acknowledged the challenging environment but expressed encouragement by profit growth and the resilience of non-pressure pumping service lines [8] - The company is optimistic about the rollout of a new downhole motor product, which has shown early success and high customer interest [16] - Management expects the market to eventually balance out, with activity potentially picking up as production declines and demand remains high [47] Other Important Information - The company received a $53 million tax refund related to past tax years, resulting in a lower effective tax rate of 17.8% for the quarter, which is not expected to be repeated in future quarters [26] - Year-to-date CapEx was $128 million, with the full-year CapEx range remaining unchanged at $200 million to $250 million [25] Q&A Session Summary Question: M&A Strategy and Financial Parameters - The company is looking for acquisitions that are accretive from both a cash flow and earnings valuation perspective, with a focus on areas with strong free cash flow fundamentals [35][36] - Management emphasized the importance of finding a balance between financial parameters and the potential for integrating new teams and capabilities [36] Question: Market Dynamics and Pressure Pumping Competitiveness - The pressure pumping market remains highly competitive, with additional capacity coming from both gassy basins and new e-fleet deployments [45] - The company is disciplined in its approach, choosing to idle certain crews rather than chase economically unattractive business [10][45] Question: Potential Investments in Tier 4 DGB Engines - The company sees an opportunity to stock up on Tier 4 DGB engines at potentially attractive prices due to market softness, though it is not actively playing the market for these components [51] Question: Technical Services Outlook for Q3 and Q4 - Management expects Q3 to be similar to Q2, with pressure pumping remaining a challenge but other service lines continuing to perform well [61] - Support services, which include non-pressure pumping business lines, are expected to remain steady, with no significant shifts anticipated [63]

RPC (RES) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.30 per share a year ago. These figures are adjusted for non-recurring items. Over the last four quarters, the company has surpassed consensus EPS estimates two times. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings ...

Exhibit 99.1 ATLANTA, July 25, 2024 - RPC, Inc. (NYSE: RES) ("RPC" or "the Company"), a leading diversified oilfield services company, announced its unaudited results for the second quarter ended June 30, 2024. ● Revenues decreased 4% sequentially to $364.2 million ● Net income was $32.4 million, up 18% sequentially, and diluted Earnings Per Share (EPS) was $0.15; net income margin increased 160 basis points sequentially to 8.9% ● Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBIT ...

RPC Inc (RES) is set to report second-quarter 2024 earnings on Jul 25, before the opening bell. Estimate Trend The Zacks Consensus Estimate for second-quarter revenues of $385.7 million indicates a 7.3% decline from the year-ago reported figure. According to the U.S. Energy Information Administration, the average spot prices for West Texas Intermediate crude at Cushing, OK, were $85.35 per barrel in April, $80.02 in May and $79.77 in June. This indicates that the crude pricing environment in the second quar ...

For information about RPC, Inc. or this event, please contact: ATLANTA, July 10, 2024 /PRNewswire/ -- RPC, Inc. (NYSE: RES) announced today that it will release its financial results for the second quarter ended June 30, 2024 on Thursday, July 25, 2024 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, July 25, 2024 at 9:00 a.m. Eastern Time. Mark Chekanow, CFA Vice President, Investo ...

Belgrade, Serbia, June 10, 2024 (GLOBE NEWSWIRE) -- On June 3, 2024, Web3 infrastructure innovator GetBlock, proudly announced the launch of its crypto faucets dashboard. Since the very first iterations, GetBlock faucets kit supports all mainstream L1s and L2s on Ethereum Virtual Machine. Amidst all our recent upgrades, this one is for sure the most important release for global Web3 fam. We're beyond excited to offer crypto developers a stack of user-friendly and secure crypto faucets for EVM blockchains. W ...

RPC, Inc. (NYSE:RES) Q1 2024 Earnings Call Transcript April 25, 2024 9:00 AM ET Company Participants Mike Schmit - CFO Ben Palmer - President and CEO Conference Call Participants Stephen Gengaro - Stifel Don Crist - Johnson Rice Sean Mitchell - Daniel Energy Chuck Minervino - Susquehanna Operator Good morning and thank you for joining us for RPC, Inc.'s First Quarter 2024 Conference Call. Today's call will be hosted by Ben Palmer, President and CEO; and Mike Schmidt, Chief Financial Officer. At this time, a ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 (Address of principal executive offices) (Zip code) or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________to__________ Commission File No. 001-08726 RPC, INC. (Exact name of registrant as specifi ...

Exhibit 99.1 Page 1 First Quarter 2024 Earnings Release RPC, Inc. Reports First Quarter 2024 Financial Results And Declares Regular Quarterly Cash Dividend ATLANTA, April 25, 2024 - 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, 2024. * Non-GAAP and adjusted measures, including adjusted operating income, adjusted net income, adjusted earnings per share (diluted), EBITDA and adjusted EBITDA ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023 Commission File No. 1-8726 RPC, INC. Delaware (State of Incorporation) 58-1550825 (I.R.S. Employer Identification No.) 2801 BUFORD HIGHWAY NE, SUITE 300 ATLANTA, GEORGIA 30329 (404) 321-2140 Securi ...