Commission File No. 001-08726 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 June 30, 2023 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 (Addre ...

RPC, Inc. (NYSE:RES) Q2 2023 Earnings Conference Call July 26, 2023 9:00 AM ET Company Participants Jim Landers - VP, Corporate Services Ben Palmer - President, Director & CEO Mike Schmit - VP, CFO & Corporate Secretary Conference Call Participants John Daniel - Daniel Energy Partners Stephen Gengaro – Stifel Don Crist - Johnson Rice Derek Podhaizer - Barclays Operator Good morning, and thank you for joining us for RPC Inc.'s Second Quarter 2023 Financial Earnings Conference Call. Today's call will be hoste ...

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, 2023 Commission File No. 1-8726 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 (Address ...

RPC, Inc. (NYSE:RES) Q1 2023 Earnings Conference Call April 26, 2023 9:00 AM ET Company Participants Jim Landers - Vice President-Corporate Services Ben Palmer - President & Chief Executive Officer Mike Schmit - Chief Financial Officer Conference Call Participants Stephen Gengaro - Stifel Don Crist - Johnson Rice Derek Podhaizer - Barclays John Daniel - Daniel Energy Partners Operator Good morning and thank you for joining us for RPC Inc.’s First Quarter 2023 Financial Earnings Conference Call. Today’s call ...

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, 2022 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 ...

RPC Inc. (NYSE:RES) Q4 2022 Earnings Conference Call January 25, 2023 9:00 AM ET Company Participants Ben Palmer - President, Chief Executive Officer Mike Schmit - Chief Financial Officer Jim Landers - Vice President, Corporate Services Conference Call Participants Stephen Gengaro - Stifel Don Crist - Johnson Rice John Daniel - Daniel Energy Partners Derek Podhaizer - Barclays Operator Good morning and thank you for joining us for RPC Inc.’s fourth quarter and year-end 2022 financial earnings conference ca ...

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 2801 Buford Highway, Suite 300, Atlanta, Georgia 30329 (Address of principal executive offices) (Zip code) For the quarterly period ended September 30, 2022 Registrant's telephone number, including area code -- (404) 321-2140 Commission File No. 1-8726 Securities Registered under Section 12(b) of the Act: RPC, INC. (Exact ...

RPC, Inc. (NYSE:RES) Q3 2022 Earnings Conference Call October 26, 2022 9:00 AM ET Company Participants Jim Landers – Vice President-Corporate Services Ben Palmer – President and Chief Executive Officer Mike Schmit – Chief Financial Officer Conference Call Participants Don Crist – Johnson Rice John Daniel – Daniel Energy Partners Simon Wong – Gabelli Andrew Pelisek – Millennium Joel Etzler – Coeli Energy Operator Good morning. And thank you for joining us for RPC, Inc.’s Third Quarter 2022 Financial Earnings ...

[PART I. FINANCIAL INFORMATION](index=3&type=section&id=Part%20I.%20Financial%20Information) [ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents RPC, Inc.'s unaudited consolidated financial statements for Q2 2022 and FY2021, covering key financial statements and detailed accounting notes [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) Consolidated balance sheets show RPC's financial position as of June 30, 2022, with increased total assets and equity, driven by higher receivables and retained earnings | Metric | June 30, 2022 (Unaudited) (in millions) | December 31, 2021 (Note 1) (in millions) | | :-------------------------------- | :-------------------------------------- | :--------------------------------------- | | Total Assets | $965.079 | $864.365 | | Total Liabilities | $258.417 | $222.574 | | Total Stockholders' Equity | $706.662 | $641.791 | | Accounts receivable, net | $357.582 | $258.635 | | Retained earnings | $705.133 | $640.936 | [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) Consolidated statements of operations show a turnaround from net loss in 2021 to net income in 2022, driven by increased revenues and improved operating efficiency | Metric | Three months ended June 30, 2022 (in millions, except per share) | Three months ended June 30, 2021 (in thousands, except per share) | Six months ended June 30, 2022 (in millions, except per share) | Six months ended June 30, 2021 (in millions, except per share) | | :-------------------------------- | :----------------------------------------------- | :------------------------------------------------ | :--------------------------------------------- | :--------------------------------------------- | | Revenues | $375.507 | $188.757 | $660.131 | $371.367 | | Operating income (loss) | $60.415 | $(1.220) | $83.450 | $(11.741) | | Net income (loss) | $46.939 | $(726) | $62.018 | $(10.388) | | Basic Earnings (loss) per share | $0.22 | $0.00 | $0.29 | $(0.05) | | Diluted Earnings (loss) per share | $0.22 | $0.00 | $0.29 | $(0.05) | [Consolidated Statements of Comprehensive Income (Loss)](index=6&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Consolidated statements of comprehensive income (loss) show a positive shift from losses in 2021 to income in 2022, driven by improved net income and minor pension/FX adjustments | Metric | Three months ended June 30, 2022 (in millions/thousands) | Three months ended June 30, 2021 (in thousands) | Six months ended June 30, 2022 (in millions/thousands) | Six months ended June 30, 2021 (in millions/thousands) | | :-------------------------------- | :----------------------------------------------- | :---------------------------------------------- | :--------------------------------------------- | :--------------------------------------------- | | Net income (loss) | $46.939 | $(726) | $62.018 | $(10.388) | | Pension adjustment, net of taxes | $195 | $153 | $390 | $306 | | Foreign currency translation | $65 | $69 | $181 | $205 | | Comprehensive income (loss) | $47.199 | $(504) | $62.589 | $(9.877) | [Consolidated Statements of Stockholders' Equity](index=7&type=section&id=Consolidated%20Statements%20of%20Stockholders'%20Equity) Consolidated statements of stockholders' equity show increased total equity for H1 2022, driven by net income and stock issued for incentive plans, partially offset by repurchases | Metric | December 31, 2021 (in millions, except shares) | June 30, 2022 (in millions, except shares) | | :-------------------------------- | :--------------------------------------------- | :----------------------------------------- | | Total Stockholders' Equity | $641.791 | $706.662 | | Shares Outstanding | 215.629 | 216.662 | | Net Income (Six months) | - | $62.018 | | Stock issued for stock incentive plans, net (Six months) | - | $3.192 | | Stock purchased and retired (Six months) | - | $(0.910) | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Consolidated statements of cash flows show decreased operating cash flow for H1 2022 due to working capital changes, with increased cash used in investing activities for capital expenditures | Metric | Six months ended June 30, 2022 (in millions) | Six months ended June 30, 2021 (in millions) | | :-------------------------------- | :------------------------------------------- | :------------------------------------------- | | Net cash provided by operating activities | $42.853 | $54.866 | | Net cash used for investing activities | $(43.430) | $(17.781) | | Net cash used for financing activities | $(3.623) | $(0.566) | | Net (decrease) increase in cash and cash equivalents | $(4.200) | $36.519 | | Cash and cash equivalents at end of period | $78.233 | $121.015 | [Notes to Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) These notes provide detailed explanations and disclosures for the consolidated financial statements, covering accounting policies, standards, revenue, EPS, stock compensation, segments, credit losses, inventories, commitments, pensions, credit facilities, income taxes, fair value, and comprehensive income [1. GENERAL](index=9&type=section&id=1.%20GENERAL) This note outlines the basis of presentation for the unaudited interim consolidated financial statements, confirming adherence to GAAP and SEC regulations, and states that all necessary adjustments have been included. It also notes that a group including a Board member controls over 50% of the Company's voting power - **GAAP** and **SEC Form 10-Q** instructions guide the preparation of unaudited consolidated financial statements[17](index=17&type=chunk) - A group including a Board member controls **over 50% of the Company's voting power**[20](index=20&type=chunk) [2. RECENT ACCOUNTING STANDARDS](index=9&type=section&id=2.%20RECENT%20ACCOUNTING%20STANDARDS) This note details recently adopted and issued accounting standards. The company adopted ASU No. 2020-04 (Reference Rate Reform) in Q2 2022, replacing LIBOR with Term SOFR, with no material impact. It plans to adopt ASU No. 2021-08 (Business Combinations) prospectively from January 1, 2023, also not expecting a material impact - RPC adopted **ASU No. 2020-04 (Reference Rate Reform)** in Q2 2022, replacing LIBOR with Term SOFR, with no material financial impact[21](index=21&type=chunk) - The Company plans to adopt **ASU No. 2021-08 (Business Combinations)** from January 1, 2023, with no expected material impact[22](index=22&type=chunk) [3. REVENUES](index=11&type=section&id=3.%20REVENUES) This note describes RPC's revenue recognition policies, primarily from oilfield services, which are recognized over time using the output method. Services are categorized into Technical Services (well-site) and Support Services (off-well-site). Contract terms are generally short-term, with invoicing upon completion and expected collection within 30-60 days. Unbilled trade receivables increased significantly to $92.8 million as of June 30, 2022 - RPC generates contract revenues primarily from **specialized oilfield services**, recognized over time using the output method[24](index=24&type=chunk)[30](index=30&type=chunk) - Services are categorized into **Technical Services** (e.g., pressure pumping) and **Support Services** (e.g., rental tools)[26](index=26&type=chunk)[27](index=27&type=chunk)[29](index=29&type=chunk) | Metric | June 30, 2022 (in millions) | December 31, 2021 (in millions) | | :-------------------- | :-------------------------- | :-------------------------- | | Unbilled trade receivables | $92.756 | $50.370 | [4. EARNINGS PER SHARE](index=12&type=section&id=4.%20EARNINGS%20PER%20SHARE) This note details the calculation of basic and diluted earnings per share, accounting for participating securities (restricted shares with dividend rights). Net income used in EPS calculation for the six months ended June 30, 2022, was $61.1 million, resulting in $0.29 per share - **Basic and diluted EPS** are calculated by dividing net income by weighted average shares outstanding, adjusted for participating securities[33](index=33&type=chunk) | Metric | Three months ended June 30, 2022 (in millions/shares) | Three months ended June 30, 2021 (in thousands/shares) | Six months ended June 30, 2022 (in millions/shares) | Six months ended June 30, 2021 (in millions/shares) | | :-------------------------------- | :---------------------------------------------------- | :------------------------------------------------

RPC, Inc. (NYSE:RES) Q2 2022 Earnings Conference Call July 27, 2022 9:00 AM ET Company Participants James Landers - VP, Corporate Finance Ben Palmer - CEO, President & Director Michael Schmit - CFO & Corporate Secretary Conference Call Participants Stephen Gengaro - Stifel, Nicolaus & Company John Daniel - Daniel Energy Partners Donald Crist - Johnson Rice & Company Joel Etzler - Coeli Energy Operator Good morning, and thank you for joining us for RPC, Inc.'s Second Quarter 2020 Financial Earnings Conferenc ...