RPC Q2 Earnings Lag Estimates, Revenues Increase Y/Y

Core Insights - RPC Inc. reported second-quarter 2025 adjusted earnings of 8 cents per share, missing the Zacks Consensus Estimate of 9 cents, and down from 15 cents in the previous year [1][8] - Total quarterly revenues increased to $420.8 million from $364.2 million year-over-year, surpassing the Zacks Consensus Estimate of $407 million [1][8] - The decline in earnings was primarily attributed to pressure-pumping weakness, although this was partially offset by the Pintail acquisition [1][8] Segmental Performance - Operating profit in the Technical Services segment was $21 million, down from $30.2 million in the year-ago quarter [2] - Operating profit in the Support Services segment rose to $4.6 million, slightly up from $4.4 million year-over-year [2] - Total operating profit for the quarter was $15.5 million, a decrease from $35.5 million in the previous year, with the average domestic rig count at 571, down 5.3% year-over-year [2] Commodity Prices - The average oil price was $64.74 per barrel, reflecting a 20.8% decrease year-over-year [3] - The average price of natural gas was $3.20 per thousand cubic feet, which is a 54.6% increase compared to the same period in 2024 [3] Costs & Expenses - Cost of revenues increased to $317.7 million from $262.3 million in the prior-year period [4] - Selling, general and administrative expenses rose to $40.8 million, compared to $37.4 million in the year-ago quarter [4] Financials - RPC's total capital expenditure was $75.3 million [5] - As of June 30, the company had cash and cash equivalents of $162.1 million and maintained a debt-free balance sheet [5]