RPC(US:RES)2026-02-03 11:45Financial Performance - Revenues for Q4 2025 were $425.8 million, a decrease of 5% sequentially and an increase of 15% year-over-year to $1.6 billion, primarily due to the Pintail Completions acquisition[6][8] - Net loss for Q4 2025 was $3.1 million, with a loss per share of $0.02, compared to net income of $13.0 million and EPS of $0.06 in Q3 2025[6][12] - Adjusted net income for Q4 2025 was $9.4 million, down from $16.8 million in Q3 2025, with adjusted diluted EPS of $0.04[6][13] - Adjusted EBITDA for Q4 2025 was $55.1 million, down from $67.8 million in Q3 2025, with an adjusted EBITDA margin of 12.9%[6][13] - Net loss for the three months ended December 31, 2025, was $(3,061) thousand, compared to net income of $12,762 thousand in the same period of 2024[24] - Adjusted operating income for the year ended December 31, 2025, was $65,044 thousand, while operating income was $44,732 thousand[31] - Net loss for Q4 2025 was $3.061 million, compared to a net income of $12.963 million in Q3 2025 and $12.762 million in Q4 2024[32] - Adjusted net income for Q4 2025 was $9.373 million, down from $16.818 million in Q3 2025 and $12.762 million in Q4 2024[32] - Total revenues for Q4 2025 were $425.777 million, compared to $447.103 million in Q3 2025 and $335.361 million in Q4 2024[38] - Adjusted EBITDA for Q4 2025 was $55.103 million, while Q3 2025 reported $67.802 million[38] - Free cash flow for the year ended December 31, 2025, was $52.924 million, down from $129.456 million in 2024[41] Operational Metrics - The Technical Services segment saw a 4% sequential revenue decline, while the Support Services segment experienced an 18% sequential decrease[6][8] - The average U.S. rig count increased by 1.5% to 548 in Q4 2025, but was down 6.5% compared to Q4 2024[7] - The average oil price per barrel decreased by 9.2% to $59.79 in Q4 2025, down 15.3% from $70.59 in Q4 2024[7] Cash Flow and Capital Management - Net cash from operating activities was $201.3 million, with free cash flow of $52.9 million for the year[14] - The company paid $35.1 million in dividends and repurchased $2.9 million of common stock in 2025[15] - Net cash provided by operating activities for the year ended December 31, 2025, was $201,331 thousand, a decrease from $349,386 thousand in 2024[27] - Capital expenditures for the year ended December 31, 2025, were $(148,407) thousand, compared to $(219,930) thousand in 2024[27] Balance Sheet Highlights - Total assets increased to $1,468,385 thousand as of December 31, 2025, from $1,386,489 thousand as of December 31, 2024[26] - Cash and cash equivalents decreased to $209,974 thousand at the end of 2025, down from $325,975 thousand at the end of 2024[27] - The company reported an increase in accounts receivable to $327,668 thousand as of December 31, 2025, from $276,577 thousand as of December 31, 2024[26] - Total stockholders' equity increased to $1,099,171 thousand as of December 31, 2025, from $1,078,291 thousand as of December 31, 2024[26] Management Commentary - Management emphasized a focus on disciplined execution and strategic capital deployment in a challenging macro environment[7][22] Other Expenses - The company incurred acquisition-related employment costs of $20,312 thousand for the year ended December 31, 2025[24] - The company incurred wireline cable expenses totaling approximately $13.8 million for the year, impacting operating income by an additional $8.3 million[39]