Financial Data and Key Metrics Changes - Revenues decreased by 7% to $338 million, primarily due to lower pressure pumping activity [10] - Diluted EPS fell to $0.09 from $0.15 in the previous quarter [12] - EBITDA decreased to $55.2 million from $68.5 million, with EBITDA margins down 240 basis points sequentially to 16.4% [12] - Operating cash flow was $70.7 million, with free cash flow at $19 million after CapEx of $51.7 million [12] Business Line Data and Key Metrics Changes - Pressure pumping revenues declined by 12%, while other service lines collectively saw a 4% decrease [4] - Technical Services, which represents 93% of total revenues, decreased by 8% [10] - Rental Tools revenue remained flat, while Cementing and Downhole Tools experienced slight declines [7] Market Data and Key Metrics Changes - The frac market remains highly competitive with downward pricing pressure and ample supply of horsepower capacity [3][4] - Demand for Tier 4 DGBs is solid, with commitments extending several quarters out, contrasting with challenges faced by legacy diesel equipment [4][5] Company Strategy and Development Direction - The company is focused on rebalancing its portfolio to reduce reliance on the volatile frac market and enhance its non-pressure pumping service lines [14][15] - Strategic investments in equipment upgrades and potential acquisitions are being pursued to strengthen the business [14] - The company aims to maintain financial stability and long-term shareholder returns despite market volatility [15] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing challenges in the oilfield services market, with limited visibility heading into the winter season [3] - There is no expectation for significant pricing improvements in 2025, with a focus on prudent operations and potential market discipline [29] Other Important Information - The company has a strong cash position of $277 million at the end of the quarter and plans to maintain CapEx within the guided range of $200 million to $250 million [13] - The impact of E&P consolidation has begun to affect revenues, with one significant customer being acquired by a competitor [5][6] Q&A Session Summary Question: Advances in downhole technology and opportunities in California - Management discussed the potential of new coiled tubing technology for plug and abandonment work in California, highlighting improvements in delivering pods downhole [16][17] Question: M&A bid/ask spread dynamics - Management indicated that the bid/ask spread has compressed somewhat, with private sellers recognizing public valuations [18] Question: Willingness to use cash for acquisitions - The company has a strong cash balance and is flexible in using cash or stock for acquisitions, depending on the situation [20] Question: Optimal fleet size and market dynamics - Management noted that the current fleet size is lower than previous years, with ongoing evaluations for future upgrades [21][23] Question: Nature of acquisition opportunities - Management described acquisition opportunities as a combination of distressed assets and private equity exits, with no clear theme [24] Question: Consolidation in the oilfield services sector - Management emphasized the importance of acquiring differentiated businesses rather than merely increasing scale through commoditized services [26][27] Question: Pricing dynamics for 2025 - Management is not counting on significant pricing improvements for 2025 but remains hopeful for some market discipline [29] Question: Decision points for upgrading fleets - Management indicated that upgrading a fleet would take approximately nine months and would not require long-term contracts at this time [31][32]

Financial Performance - Total revenues for Q3 2024 were $337.7 million, an increase of 2.2% compared to Q3 2023, driven by higher pressure pumping activity levels [73]. - Income before income taxes for Q3 2024 was $23.5 million, down from $24.9 million in Q3 2023 [73]. - Revenues for the first nine months of 2024 were $1.1 billion, a decrease of 11.7% compared to the same period in 2023, primarily due to lower industry activity levels [87]. - Technical Services segment revenues for the first nine months of 2024 decreased by 11.7%, with operating income dropping to $78.5 million from $199.5 million in the prior year [89]. - Cost of revenues for Q3 2024 increased by 3.5% to $247.5 million, driven by higher activity levels and associated expenses [84]. - The income tax provision was $20.1 million for the nine months ended September 30, 2024, down from $48.8 million in 2023, with an effective tax rate decrease to 20.3% from 24.0% [94]. Capital Expenditures - Capital expenditures for the nine months ended September 30, 2024, totaled $179.5 million, with expectations for 2024 to be between $200 million and $250 million [79]. - Capital expenditures were $179.5 million for the nine months ended September 30, 2024, compared to $148.8 million for the same period in 2023, reflecting an increase of approximately 20.6% [96]. - The company expects capital expenditures to be between $200 million and $250 million in 2024, focusing on maintenance and growth opportunities [100]. Expenses - Selling, general and administrative expenses decreased to $37.7 million in Q3 2024, down from $42.0 million in Q3 2023, primarily due to lower incentive compensation [85]. - Selling, general and administrative expenses decreased to $115.2 million for the nine months ended September 30, 2024, from $127.8 million for the same period in 2023, a reduction of approximately 9.9% [91]. - Depreciation and amortization increased by 23.8% to $97.4 million for the nine months ended September 30, 2024, compared to $78.7 million for the same period in 2023 [91]. - Interest expense rose to $594 thousand for the nine months ended September 30, 2024, compared to $246 thousand for the same period in 2023, while interest income increased to $9.8 million from $6.0 million [93]. Liquidity and Cash Flow - Cash and cash equivalents increased by $53.6 million to $276.9 million as of September 30, 2024, compared to $223.3 million as of December 31, 2023 [95]. - Net cash provided by operating activities decreased by $43.9 million to $255.2 million for the nine months ended September 30, 2024, compared to $299.1 million for the same period in 2023 [95]. - The company has sufficient liquidity from existing cash and cash equivalents to meet requirements for at least the next twelve months [112]. - As of September 30, 2024, the company had no outstanding borrowings under its $100 million revolving credit facility, with $83.5 million available [99]. - As of September 30, 2024, RPC had no outstanding interest-bearing advances on its credit facility, which bears interest at a floating rate [116]. Market Outlook - RPC, Inc. anticipates that international revenues will remain below 10% of consolidated revenues in the foreseeable future [112]. - The company believes that oil prices will stay at or above levels sufficient to motivate customers to maintain drilling and completion activities [112]. - RPC expects that natural gas-directed drilling will increase in the future due to favorable long-term market dynamics [112]. - The company acknowledges potential risks from the volatility of oil and natural gas prices, which could affect drilling activity and demand for services [113]. - RPC recognizes the oversupplied nature of the oilfield services market, which may impact pricing and competition [113]. Shareholder Returns - The company intends to continue paying cash dividends to common stockholders, subject to industry conditions and financial performance [112]. - The company has a stock buyback program to repurchase up to 49,578,125 shares, with 12,768,870 shares remaining available for repurchase as of September 30, 2024 [102]. Operational Metrics - Average domestic rig count for Q3 2024 was 586, a decrease of 9.7% compared to the same period in 2023 [82]. - Average oil price per barrel in Q3 2024 was $76.57, a decrease of 6.8% compared to Q3 2023, while average natural gas price per thousand cubic feet was $2.10, down 18.9% [82]. - The majority of RPC's transactions occur in U.S. currency, minimizing the impact of foreign exchange rate changes on its financial condition [116].

Company Performance - RPC reported quarterly earnings of $0.09 per share, missing the Zacks Consensus Estimate of $0.14 per share, representing an earnings surprise of -35.71% [1] - The company posted revenues of $337.65 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 6.05%, compared to year-ago revenues of $330.42 million [1] - Over the last four quarters, RPC has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [1] Stock Outlook - RPC shares have lost about 13.6% since the beginning of the year, while the S&P 500 has gained 21.5% [2] - The current consensus EPS estimate for the coming quarter is $0.12 on $342.4 million in revenues, and $0.55 on $1.44 billion in revenues for the current fiscal year [4] - The estimate revisions trend for RPC is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [4] Industry Context - The Oil and Gas - Field Services industry is currently in the bottom 35% of the Zacks industry rankings, which can materially impact stock performance [5] - Flotek Industries, another company in the same industry, is expected to report quarterly earnings of $0.07 per share, representing a year-over-year change of +75%, with revenues expected to be $50.4 million, up 6.6% from the year-ago quarter [5]

Exhibit 99.1 Page 1 Third Quarter 2024 Earnings Release RPC, Inc. Reports Third Quarter 2024 Financial Results And Declares Regular Quarterly Cash Dividend ATLANTA, October 24, 2024 - RPC, Inc. (NYSE: RES) ("RPC" or the "Company"), a leading diversified oilfield services company, announced its unaudited results for the third quarter ended September 30, 2024. * Non-GAAP and adjusted measures, including adjusted operating income, adjusted net income, adjusted earnings per share (diluted), EBITDA and adjusted ...

ATLANTA, Oct. 24, 2024 /PRNewswire/ -- RPC, Inc. (NYSE: RES) ("RPC" or the "Company"), a leading diversified oilfield services company, announced its unaudited results for the third quarter ended September 30, 2024.* Non-GAAP and adjusted measures, including adjusted operating income, adjusted net income, adjusted earnings per share (diluted), EBITDA and adjusted EBITDA, adjusted EBITDA margin, and free cash flow are reconciled to the most comparable GAAP measures in the appendices of this earnings release. ...

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]