Rpc Inc Stock Price, News & Analysis

RPC, Inc. (NYSE: RES) reported its first-quarter 2023 results, showing revenues of $476.7 million, a slight decline from $482.0 million in Q4 2022, impacted by weather disruptions and a shift in job mix. Operating profit fell to $90.7 million from $112.3 million, with net income at $71.5 million, or $0.33 per share, down from $87.0 million, or $0.40 per share in the previous quarter. The company recorded a non-cash pension charge of $17.4 million. Year-over-year, revenues increased by 67.5%. RPC maintains a strong balance sheet with $177.9 million in cash, allowing continued investment and a resumed share buyback program. Adjusted EBITDA stood at $132.9 million, slightly down from $138.4 million in Q4 2022.

RPC, Inc. (NYSE: RES) announced on April 25, 2023, a quarterly cash dividend of $0.04 per share, payable on June 9, 2023, to stockholders of record as of May 10, 2023. Additionally, the board approved an increase of 8 million shares to its stock buyback program, bringing the total authorized for repurchase to 15,115,820 shares. This move aims to enhance shareholder value through consistent cash returns via dividends and share repurchases. The buyback program is flexible, allowing repurchases in various market conditions without a set expiration date. RPC does not plan to incur debt for this program, aligning with its broader capital allocation strategy.

RPC, Inc. (NYSE: RES) will present at the 26th Annual Burkenroad Reports Investment Conference on April 28, 2023, hosted by the A. B. Freeman Business School at Tulane University. The event, taking place at the Ritz Carlton New Orleans, is part of a conference that allows institutional investors and the public to hear from executives of public companies in the Gulf South. The conference is free but requires registration, which can be done at freeman.tulane.edu/Burkenroad-conference.

RPC provides specialized oilfield services primarily to independent and major oilfield companies across the United States, including regions like the Gulf of Mexico and Rocky Mountains. Further details and the presentation will be available on RPC.net.

RPC, Inc. (NYSE: RES) announced it will release its Q1 2023 financial results on April 26, 2023, before the opening of the market. The company will hold a conference call on the same day at 9:00 a.m. ET to discuss its financial and operating results. Interested participants can join via a toll-free number or access the live broadcast on the Company's investor website. RPC provides specialized oilfield services and equipment primarily to oilfield companies across the U.S., including regions such as the Gulf of Mexico and Appalachian.

RPC, Inc. (NYSE: RES) reported the repurchase of 1,132,364 shares totaling approximately $9.0 million in the first quarter of 2023. This strategic buyback reflects RPC’s commitment to enhancing shareholder value through its share repurchase program. The company provides specialized oilfield services and equipment to major oilfield companies across the U.S. and selected markets internationally. The repurchase is expected to positively impact the earnings per share (EPS) and demonstrate confidence in the company's financial health.

RPC, Inc. (NYSE: RES) announced a quarterly cash dividend increase from $0.02 to $0.04 per share. The increased dividend will be payable on March 10, 2023, to stockholders of record as of February 10, 2023. This decision reflects the company's ongoing commitment to returning value to its shareholders. RPC specializes in providing essential oilfield services and equipment primarily to oilfield companies across the United States, including regions like the Gulf of Mexico and the Rocky Mountains.

RPC, Inc. (NYSE: RES) reported strong financial results for Q4 2022, with net income rising to $87.0 million from $69.3 million in Q3 2022. Diluted earnings per share increased to $0.40 from $0.32. Revenues reached $482.0 million, a 4.9% increase compared to the previous quarter, driven by improved pricing and higher equipment utilization. EBITDA surged 19.8% to $135.5 million. For the full year, revenues jumped 85.2% to $1.6 billion with net income of $218.4 million. The company also announced a dividend increase to $0.04 per share.

RPC, Inc. (NYSE: RES) will release its financial results for Q4 and the year ended December 31, 2022, on January 25, 2023, before market open. A conference call to discuss these results will take place the same day at 9:00 a.m. Eastern Time. Interested participants can join via a toll-free number or through a webcast available on RPC's investor website. RPC provides specialized oilfield services to oil and gas companies across the U.S. and selected international markets.

RPC, Inc. (NYSE: RES) has appointed Timothy C. Rollins to its Board of Directors, effective October 31, 2022. Rollins, with a B.S. from Boston University, is Vice President of Rollins Investment Corporation and a trustee at Emory University. His previous board experience includes serving as a director at Marine Products Corporation since 2016. Chairman Richard A. Hubbell anticipates Rollins' contributions will enhance the board's effectiveness as RPC continues to provide specialized oilfield services across the United States and select international markets.