RPC(US:RES)2025-10-30 11:21Financial Performance - Revenues increased 6% sequentially to $447.1 million, driven by a 14% increase in pressure pumping services[6] - Net income was $13.0 million, up 28% sequentially, with diluted EPS at $0.06, resulting in a net income margin of 2.9%[6] - Adjusted EBITDA was $72.3 million, up 10% sequentially, with an adjusted EBITDA margin of 16.2%[6] - Revenues for Q3 2025 reached $447,103 thousand, a 6.3% increase from $420,809 thousand in Q2 2025 and a 32.4% increase from $337,652 thousand in Q3 2024[25] - Operating income for Q3 2025 was $20,800 thousand, up 33.5% from $15,536 thousand in Q2 2025 but down 8.3% from $19,204 thousand in Q3 2024[25] - Net income for Q3 2025 was $12,963 thousand, representing a 27.7% increase from $10,148 thousand in Q2 2025 but a 30.9% decrease from $18,796 thousand in Q3 2024[25] - Adjusted net income for Q3 2025 was $18,379 thousand, compared to $17,504 thousand in Q2 2025 and $18,796 thousand in Q3 2024[35] - Basic earnings per share for Q3 2025 was $0.06, compared to $0.05 in Q2 2025 and $0.09 in Q3 2024[25] - Net income for Q3 2025 was $12,963,000, an increase from $10,148,000 in Q2 2025, and $18,796,000 in Q3 2024[36] - Adjusted EBITDA for Q3 2025 reached $72,333,000, up from $65,589,000 in Q2 2025, and consistent with $55,243,000 in Q3 2024[36] - Revenues for Q3 2025 were $447,103,000, compared to $420,809,000 in Q2 2025, and $337,652,000 in Q3 2024, reflecting a year-over-year growth of 32.5%[36] - Net income margin improved to 2.90% in Q3 2025 from 2.41% in Q2 2025, while adjusted net income margin remained stable at 4.11%[36] Expenses and Liabilities - Selling, general and administrative expenses rose to $44.6 million, up from $40.8 million, representing 10.0% of revenues[9] - Total liabilities rose to $396,403 thousand as of September 30, 2025, compared to $308,198 thousand at the end of 2024, marking a 28.6% increase[26] - Acquisition-related employment costs totaled approximately $6.5 million during Q3, with remaining costs expected to be recognized over the next 10 quarters[10] - The company incurred acquisition-related employment costs of $6,467 thousand in Q3 2025, consistent with $6,554 thousand in Q2 2025[35] Cash Flow and Capital Expenditures - Cash and cash equivalents were $163.5 million at the end of Q3, with no outstanding borrowings under the $100 million revolving credit facility[14] - Cash and cash equivalents decreased to $163,462 thousand from $325,975 thousand at the end of 2024, reflecting a decrease of 50.1%[28] - The company reported capital expenditures of $117,780 thousand for the nine months ended September 30, 2025, down from $179,460 thousand in the same period of 2024[28] - Capital expenditures for the nine months ended September 30, 2025, were $117,780,000, down from $179,460,000 in 2024[37] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $139,468,000, compared to $255,215,000 in 2024[37] Market Conditions and Outlook - The average U.S. rig count decreased by 5.4% sequentially to 540 rigs, while oil prices increased slightly to $65.85 per barrel[5] - Cudd Pressure Control's coiled tubing business saw a 19% revenue increase, supported by a new large diameter unit deployment[5] - The company anticipates additional headwinds in Q4 due to oil prices dipping below $60 per barrel and expected holiday slowdowns[5] Dividends - The Board of Directors declared a regular quarterly cash dividend of $0.04 per share, payable on December 10, 2025[15]