Core Viewpoint - RPC, Inc. is set to release its financial results for the third quarter of 2024 on October 24, 2024, before the market opens, and will host a conference call to discuss these results [1]. Group 1: Financial Results Announcement - The financial results for the third quarter ended September 30, 2024, will be released on October 24, 2024 [1]. - A conference call to review the financial and operating results will take place on the same day at 9:00 a.m. Eastern Time [1]. Group 2: Conference Call Participation - Individuals can participate in 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]. Group 3: Company Overview - RPC provides a wide range of specialized oilfield services and equipment primarily to independent and major oilfield companies involved in oil and gas exploration, production, and development across the United States and selected international markets [3].

RPC Inc. (RES) reported second-quarter 2024 adjusted earnings of 15 cents per share, which beat the Zacks Consensus Estimate of 13 cents. The bottom line declined from the year-ago quarter's figure of 30 cents. Total quarterly revenues were $364.2 million, down from the year-ago quarter's $415.9 million. The top line also missed the Zacks Consensus Estimate of $386 million. Operating profit in the Technical Services segment totaled $30.2 million, lower than the year-ago quarter's $77 million. The results we ...

Financial Performance - Total revenues for Q2 2024 were $364.2 million, a decrease of $51.7 million or 12.4% compared to Q2 2023, primarily due to lower pressure pumping activity and competitive pricing [104]. - Income before income taxes for Q2 2024 was $39.4 million, down from $85.6 million in Q2 2023, with diluted earnings per share at $0.15 compared to $0.30 in the prior year [107]. - Cost of revenues decreased to $262.3 million in Q2 2024 from $265.8 million in Q2 2023, reflecting reduced expenses aligned with lower activity levels [105]. - Selling, general and administrative expenses fell to $37.4 million in Q2 2024 from $43.6 million in Q2 2023, mainly due to lower variable expenses and legal costs [106]. - Technical Services segment revenues decreased by 17.1% to $62.2 million for the first six months of 2024, down from $180.6 million in the same period of 2023 [130]. - Support Services segment revenues decreased by 12.7% to $8.0 million for the first six months of 2024, compared to $14.6 million for the same period in 2023 [130]. - Cost of revenues decreased by 5.6% to $538.9 million for the six months ended June 30, 2024, down from $571.0 million for the same period in 2023 [131]. - Selling, general and administrative expenses decreased to $77.5 million for the six months ended June 30, 2024, compared to $85.8 million for the same period in 2023 [132]. - Depreciation and amortization increased by 23.9% to $62.3 million for the six months ended June 30, 2024, compared to $50.3 million for the same period in 2023 [133]. Capital Expenditures - Capital expenditures for the first half of 2024 totaled $129.2 million, with expectations to range between $200 million and $250 million for the full year, focusing on maintenance and growth opportunities [103]. - Capital expenditures were $127.8 million for the six months ended June 30, 2024, compared to $104.5 million for the same period in 2023 [141]. - The Company expects capital expenditures to be between $200 million and $250 million in 2024, focusing on maintenance and growth opportunities [149]. - The company plans to allocate $250 million in expenditures during 2024, primarily for capitalized maintenance of existing equipment and selected growth opportunities [163]. Cash Flow and Dividends - Cash and cash equivalents increased by $38.2 million to $261.5 million as of June 30, 2024, compared to $223.3 million as of December 31, 2023 [139]. - Net cash provided by operating activities increased by $6.9 million to $184.5 million for the six months ended June 30, 2024, compared to $177.6 million for the same period in 2023 [140]. - The Board of Directors declared a quarterly cash dividend of $0.04 per share payable on September 10, 2024 [152]. - The company expects to continue paying cash dividends to common stockholders, subject to industry conditions and financial performance [165]. Market Conditions - The average price of oil in Q2 2024 was $81.78 per barrel, an increase of 11.2% compared to the same period in 2023, while the average price of natural gas was $2.07 per thousand cubic feet, a decrease of 4.2% [117]. - The average domestic rig count for Q2 2024 was 603, a decline of 16.1% compared to Q2 2023 [117]. - International revenues represented 2.9% of total revenues in Q2 2024, up from 1.5% in the same period of the prior year [104]. - International revenues are expected to remain less than 10% of consolidated revenues in the foreseeable future [165]. - The company believes that current and projected prices of oil, natural gas, and natural gas liquids are important catalysts for U.S. domestic drilling activity [165]. - The company anticipates that oil-directed drilling will continue to dominate domestic drilling, while natural gas-directed drilling will remain a low percentage in the near term [165]. Strategic Initiatives - The Company acquired Spinnaker Oilwell Services, LLC on July 1, 2023, expanding its cementing services in key basins [113]. - The company plans to maintain and upgrade its current fleet capacity of revenue-producing equipment while being disciplined about adding new capacity [165]. - The company acknowledges risks related to the volatility of oil and natural gas prices, which could affect drilling activity and demand for its services [166]. - The company is committed to monitoring market trends and environmental concerns that may impact its operations and equipment fleets [165]. Taxation - The effective tax rate for Q2 2024 was 17.8%, down from 24.1% in Q2 2023, primarily due to favorable discrete adjustments [126]. Financial Position - The company has no outstanding interest-bearing advances on its credit facility as of June 30, 2024, which bears interest at a floating rate [167]. - The majority of the company's transactions occur in U.S. currency, minimizing the impact of foreign exchange rate changes on its financial condition [169].

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]

分组1 - RPC reported quarterly earnings of $0.15 per share, exceeding the Zacks Consensus Estimate of $0.13 per share, but down from $0.30 per share a year ago [1] - The company has surpassed consensus EPS estimates two times over the last four quarters [2] - The stock's immediate price movement will depend on management's commentary during the earnings call [3] 分组2 - The earnings outlook for RPC indicates unfavorable estimate revisions, resulting in a Zacks Rank 4 (Sell) for the stock, suggesting expected underperformance compared to the market [5] - The Oil and Gas - Field Services industry is currently in the bottom 14% of Zacks industries, which may negatively impact RPC's stock performance [6] - RPC's upcoming quarterly earnings are expected to be $0.08 per share, reflecting a year-over-year decline of 76.5%, with the consensus EPS estimate revised 30.1% lower in the last 30 days [7] 分组3 - RPC's quarterly revenue was $364.15 million, missing the Zacks Consensus Estimate by 5.59%, and down from $415.86 million year-over-year [9] - RPC shares have declined approximately 20.7% since the beginning of the year, contrasting with the S&P 500's gain of 13.8% [10] - The current consensus EPS estimate for the next quarter is $0.20 on revenues of $409.5 million, and $0.69 on revenues of $1.57 billion for the current fiscal year [12]

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 ...

Core Viewpoint - RPC Inc (RES) is expected to report a decline in second-quarter 2024 earnings, with significant reductions in both revenue and operating profit anticipated due to decreased drilling activities and customer spending in the oilfield services sector [1][4]. Revenue Estimates - The Zacks Consensus Estimate for second-quarter revenues is $385.7 million, reflecting a 7.3% decline from the previous year's figure [2]. - The estimated operating profit from Technical Services is projected at $35 million, down from $77 million in the same quarter last year, indicating a significant drop in the major revenue contributor for the company [4]. Market Conditions - Average spot prices for West Texas Intermediate crude were $85.35 per barrel in April, $80.02 in May, and $79.77 in June, suggesting a favorable pricing environment for exploration and production activities during the second quarter [3]. - Despite favorable pricing, drilling activities have declined both domestically and internationally, leading to reduced spending on upstream activities by explorers and producers [3][4]. Earnings Performance - The company's earnings per share estimate for the second quarter is 13 cents, which represents a nearly 57% decrease from the reported figure in the same quarter last year [12]. - In the last reported quarter, the company missed the Zacks Consensus Estimate of 19 cents per share, with an average negative surprise of 13.3% over the last three quarters [11]. Industry Trends - The number of operating rigs in North America decreased to 738 in the June quarter from 831 in the first quarter, while the international rig count also saw a decline [13].

Core Insights - GetBlock has launched a crypto faucets dashboard aimed at supporting developers on Ethereum Virtual Machine (EVM) blockchains, marking a significant upgrade for the Web3 community [1][2] Group 1: Product Launch and Features - The new crypto faucets are designed to be user-friendly and secure, allowing developers to stress-test decentralized applications (dApps) on major platforms such as Polygon and Ethereum, as well as Layer 2 solutions like Arbitrum and Optimism [3] - GetBlock provides free access to blockchain nodes for accounts with up to 40,000 requests daily, which is suitable for prototyping and personal use [4] - Users can register with GetBlock using email, Google Account, or MetaMask wallet, with both fiat and crypto payment options available for paid plans [2] Group 2: Testnets and Development Support - The Ethereum Sepolia and Polygon Amoy testnets are now operational, replacing the previous Goerli and Mumbai testnets, allowing developers to experiment in a risk-free environment [6] - GetBlock's faucets allow users to claim free test ETH or MATIC, with limitations set to prevent abuse, such as a daily cap of 0.02 ETH for free users [7][11] Group 3: Community and Educational Initiatives - GetBlock supports the Ophir Institute, an educational initiative that enables students to build and test their applications on GetBlock's infrastructure for free, contributing to the global Web3 adoption [13] - In May 2024, GetBlock launched a Marketplace to index reliable and innovative services for Web3 users, further enhancing its contribution to the ecosystem [9]

Financial Data and Key Metrics Changes - Revenues decreased by 4% to $378 million, attributed to lower industry activity and competitive pricing concessions [14] - Diluted EPS fell to $0.13 from $0.19 in the previous quarter, with adjusted EBITDA down to $63.1 million from $79.5 million, resulting in a margin decrease of 340 basis points to 16.7% [6][7] - SG&A expenses increased to $40.1 million from $38.1 million, primarily due to total employment costs [6] Business Line Data and Key Metrics Changes - Technical Services revenues, which account for 94% of total revenues, decreased by 4%, driven by a decline in pressure pumping [14] - Support Services revenues fell by 9%, representing 6% of total revenues [14] - The top five service lines accounted for 92% of total revenues, with pressure pumping at 46.6%, downhole tools at 24.8%, coiled tubing at 8.8%, cementing at 7.3%, and rental tools at 4.2% [86] Market Data and Key Metrics Changes - The frac market remains highly competitive, with fleets moving into the Permian from gas plays, adding capacity to an already crowded basin [76] - Oil prices have recently increased, with WTI reaching above $80 a barrel, which may encourage smaller private EMPs to increase activity [13] - The company noted that ongoing operating efficiency gains have created additional pump hour capacity, impacting industry pricing [76] Company Strategy and Development Direction - The company plans to continue investing in fleet upgrades, particularly focusing on Tier 4 dual fuel assets, while maintaining a debt-free balance sheet with a strong cash position of $212 million [4][7] - The company is looking for attractive acquisition opportunities to increase scale and broaden customer relationships, remaining patient in its approach [8] - The management emphasized the importance of maintaining discipline in pricing and asset utilization to avoid burning out equipment [38] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the potential for increased activity from smaller EMPs as M&A activity in the larger EMP space continues [37] - The company is monitoring the market for electric fleets but is currently focusing on dual fuel assets due to evolving technology and demand [33] - Management acknowledged the volatility in the market but remains committed to financial stability and long-term shareholder returns [77] Other Important Information - The company received a $52 million tax refund from the IRS, which will support its financial position [7] - Operating cash flow was $56.6 million, with free cash flow at $3.8 million after capital expenditures of $52.8 million [35] Q&A Session Summary Question: Can you discuss the overall pressure pumping market and competitive landscape? - Management noted that there has been some degradation in pricing compared to a year ago, but they are exercising discipline in bidding and not burning out equipment [38] Question: Are you seeing any growth in the second quarter? - Management indicated that visibility remains limited, but there are signs of modest growth as the market stabilizes [39] Question: Can you provide insights on the pricing situation in frac? - Management stated that the pricing environment is still competitive, and they are hopeful that it may be reaching a bottom [52] Question: What are the expectations for consolidation opportunities in the service space? - Management confirmed that they are actively looking for opportunities but are cautious about seller expectations on valuation [59] Question: How does consolidation among larger players impact the company? - Management believes that consolidation may create opportunities for smaller players to become more active, benefiting the company in the long run [50]

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 ...