Key Takeaways Canadian Natural Gas Pipelines' EBITDA rose 8% on higher contributions from Coastal GasLink.TC Energy declared a quarterly dividend of 85 Canadian cents per share, annualized at $3.40.The company targets 4.75x debt-to-EBITDA leverage while advancing low-risk expansions.TC Energy Corporation (TRP) reported third-quarter 2025 adjusted earnings of 56 cents per share, which came in line with the Zacks Consensus Estimate.This performance was driven by robust results from the company’s Canadian Natu ...

Core Insights - RPC, Inc. reported a sequential revenue increase of 6% to $447.1 million for Q3 2025, driven by improvements in service lines such as pressure pumping and downhole tools [5][10][12] - The company experienced a net income of $13.0 million, reflecting a 28% sequential increase, with diluted EPS rising to $0.06 [10][11] - Despite positive trends, the company anticipates challenges in Q4 due to declining oil prices and potential customer budget exhaustion [4][10] Financial Performance - Revenues for Q3 2025 were $447.1 million, up 6% from Q2 2025, with pressure pumping revenues increasing by 14% [5][10] - Adjusted EBITDA for the quarter was $72.3 million, a 10% increase sequentially, with an adjusted EBITDA margin of 16.2% [10][12] - The cost of revenues increased by 5% to $334.7 million, primarily due to higher activity levels [6][10] Operational Highlights - The U.S. rig count averaged 540 in Q3 2025, down 5.4% from Q2 2025 and 7.8% from Q3 2024 [4] - Oil prices averaged $65.85 per barrel in Q3 2025, a slight increase of 1.7% from the previous quarter but down 14% year-over-year [4] - The company noted strong demand for downhole tools and coiled tubing services, with respective revenue increases of 5% and 19% [4][5] Cash Flow and Capital Allocation - Cash and cash equivalents at the end of Q3 2025 were $163.5 million, with no outstanding borrowings under the revolving credit facility [13] - Year-to-date free cash flow was reported at $21.7 million, with net cash provided by operating activities totaling $139.5 million [13][31] - The company declared a quarterly cash dividend of $0.04 per share, payable on December 10, 2025 [14]