Financial Performance - Revenues for Q2 2024 were $364.2 million, a decrease of 4% sequentially, with pressure pumping revenues declining by 17%[3] - Net income increased by 18% sequentially to $32.4 million, resulting in a diluted EPS of $0.15 and a net income margin of 8.9%, up 160 basis points[3] - Adjusted EBITDA rose to $68.5 million, a 9% increase sequentially, with an adjusted EBITDA margin of 18.8%, up 210 basis points[3][7] - Revenues for Q2 2024 were $364.2 million, compared to $377.8 million in Q1 2024, reflecting a decrease in overall sales[31] - Adjusted EBITDA for Q2 2024 was $68.5 million, with an adjusted EBITDA margin of 18.8%, up from 16.7% in Q1 2024[31] - Operating income for Q2 2024 was $35.5 million, up from $32.3 million in Q1 2024, but down from $82.4 million in Q2 2023[42] - Net income for Q2 2024 was $32.4 million, compared to $27.5 million in Q1 2024 and $65.0 million in Q2 2023, reflecting a year-over-year decline of 50%[42] - Basic and diluted earnings per share for Q2 2024 were both $0.15, an increase from $0.13 in Q1 2024 but down from $0.30 in Q2 2023[42] Cash and Dividends - The company maintained a strong balance sheet with over $260 million in cash and no debt, while paying $8.6 million in dividends during Q2 2024[4][8] - Year-to-date dividend payments totaled $17.2 million, with a quarterly cash dividend of $0.04 per share declared for September 2024[9] - The company reported a net cash increase of $38.2 million for the quarter, ending with cash and cash equivalents of $261.5 million[17] - Cash and cash equivalents rose to $261.5 million from $223.3 million at the end of 2023, indicating a 17.1% increase[43] - Free cash flow for the six months ended June 30, 2024, was $56.7 million, down from $73.1 million for the same period in 2023[28] - Free cash flow for the same period was $56.7 million[56] Market and Operational Insights - The decline in pressure pumping revenues was attributed to lower asset utilization in a competitive market, while downhole tools and coiled tubing services saw an 8% increase due to new product innovations[5] - Coiled tubing services experienced double-digit growth, indicating strong demand in that segment[32] - RPC is optimistic about the impact of newly launched downhole tools and is assessing opportunities for specialized work in coiled tubing[13] - The company is evaluating future investments to enhance its asset base in response to competitive pressures in the pressure pumping market[32] - The average U.S. rig count decreased to 603 in Q2 2024, down 3.2% from 623 in Q1 2024 and down 16.1% from 719 in Q2 2023[52] - Oil prices averaged $81.78 per barrel in Q2 2024, up 5.6% from $77.46 in Q1 2024 and up 11.2% from $73.54 in Q2 2023[52] Expenses and Cost Management - Selling, general and administrative expenses decreased to $37.4 million from $40.1 million, primarily due to reduced headcount and lower incentive compensation accruals[34] - Cost of revenues for Q2 2024 was $262.3 million, down from $276.6 million in Q1 2024, primarily due to lower fuel and material costs[53] - The income tax provision for Q2 2024 was $7.0 million, representing 17.8% of income before income taxes, a decrease from 23.4% in Q1 2024[54] Strategic Initiatives - The company is exploring long-term strategic investments and potential acquisitions to grow its business and scale[4][13] - RPC's President expressed optimism about newly launched products contributing to future growth in downhole tools[32] - The company upgraded its equipment with a Tier 4 dual-fuel fleet during Q2 2024, aiming to transition towards dual-fuel or electric equipment[32] - Non-GAAP adjustments in 2Q:24 included only those necessary for calculating EBITDA and Adjusted EBITDA[55] Investor Relations - RPC, Inc. will hold a conference call to discuss Q2 2024 results, indicating ongoing engagement with investors[39] - Net cash provided by operating activities was $184.5 million year-to-date through 2Q:24[56] - No share repurchases were executed in 2Q:24[57] - Support Services includes equipment rental tools and pipe inspection services[58]

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 ...

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 ...

Financial Data and Key Metrics Changes - The company reported a revenue increase of 1% year-over-year, totaling $1.6 billion for 2023 [20] - Operating cash flow was $395 million, with capital expenditures of $181 million, resulting in free cash flow of $214 million [3][15] - Diluted EPS for the fourth quarter was $0.19, up from $0.08 in the third quarter, while adjusted EPS for the year was $0.97 [20][24] Business Line Data and Key Metrics Changes - Technical Services revenues increased by 22%, driven by growth in pressure pumping activity, which represented 94% of total fourth quarter revenues [22] - Pressure pumping accounted for 47.2% of revenues, while downhole tools and coiled tubing represented 23.3% and 9.4%, respectively [23] - Support Services segment revenues decreased by 14%, representing 6% of total revenues in the quarter [22] Market Data and Key Metrics Changes - The company experienced a significant increase in pressure pumping revenues, contributing to a 90% increase in total revenues for the fourth quarter [22] - The company noted a decline in oil prices during the fourth quarter, which impacted activity levels and customer budgets [16][26] Company Strategy and Development Direction - The acquisition of Spinnaker cementing business was highlighted as a strategic move to strengthen and diversify the company's operations [18][29] - The company plans to invest in a new Tier 4 DGB fleet to enhance its pressure pumping capabilities while maintaining a disciplined approach to capital expenditures [27][28] - The company is exploring additional strategic acquisitions to increase scale and broaden customer relationships [29] Management's Comments on Operating Environment and Future Outlook - Management indicated that while the fourth quarter showed a rebound from a soft third quarter, falling oil prices and customer budget exhaustion limited growth potential [26] - The company expects a flat to slightly positive outlook for the first quarter, with signs of stability and potential growth as the year progresses [74] Other Important Information - The company returned over $50 million to shareholders through share repurchases and dividends [3][5] - SG&A expenses decreased to $38.1 million due to discretionary cost controls and lower incentive compensation [24] Q&A Session Summary Question: Average horizontal frac fleets operated in the quarter and future expectations - Management confirmed all fleets were staffed and operational, with expectations to maintain staffing levels based on current activity [35][36] Question: Technical Services margin trajectory and incremental margins - Management indicated that while margins improved, future incremental margins would depend on revenue growth and job mix [37][42] Question: Types of services targeted for growth through acquisitions - Management expressed interest in expanding pressure pumping and downhole tools services, focusing on areas with strong market share [40][46] Question: Competitive landscape among smaller players in the market - Management noted that smaller players face challenges in upgrading equipment, which may lead to market consolidation benefiting larger firms [50][53] Question: Pricing dynamics between low emission and older assets - Management acknowledged increasing complexity in pricing, with larger integrated firms commanding higher prices due to their extensive service offerings [57][60] Question: Activity levels in specific basins (Haynesville, MidCon, Eagle Ford) - Management stated that while they have historically operated in these basins, they are currently focused on areas where they have a competitive advantage [68][70] Question: Impact of E&P consolidation on services - Management noted that while there was some impact in the past, recent consolidations have not negatively affected their services, and they expect potential benefits [72][78]

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 September 30, 2023 Commission File No. 001-08726 RPC, INC. (Exact name of registrant as specified in its charter) Delaware 58-1550825 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) 2801 Buford Highway, Suite 300, Atlanta, Georgia 30329 ( ...

RPC, Inc. (NYSE:RES) Q3 2023 Earnings Call Transcript October 25, 2023 9:00 AM ET Company Participants Mike Schmit - VP, CFO & Corporate Secretary Ben Palmer - President, Director & CEO Jim Landers - VP, Corporate Services Conference Call Participants John Daniel - Daniel Energy Partners Don Crist - Johnson Rice Alec Scheibelhoffer - Stifel Operator Good morning, and thank you for joining us for RPC, Inc.'s Third Quarter 2023 Financial Earnings Conference Call. Today's call will be hosted by Ben Palmer, Pre ...