Welcome to our dedicated page for Rpc news (Ticker: RES), a resource for investors and traders seeking the latest updates and insights on Rpc stock.
RPC, Inc. (NYSE: RES) is an oilfield services company that regularly issues detailed updates on its financial and operating performance. The news flow around RPC centers on quarterly and annual earnings releases, conference call announcements, acquisition activity and board-level developments, all of which are relevant to investors tracking the support activities for oil and gas operations sector.
In its earnings releases, RPC reports revenues, operating income, net income and margins, along with segment performance for Technical Services and Support Services. The company discusses trends in key service lines such as pressure pumping, downhole tools, wireline, coiled tubing, cementing and rental tools, and comments on how factors like commodity prices, rig counts and customer activity influence results. These releases often include non-GAAP measures such as EBITDA, adjusted EBITDA, adjusted net income and free cash flow, with reconciliations provided in accompanying tables.
News items also cover strategic moves, including RPC’s acquisition of Pintail Completions, a wireline services provider in the Permian Basin, and related commentary on how this transaction fits into the company’s diversified oilfield services platform. Governance-related news, such as the appointment of an independent director to the Board, appears in both press releases and Form 8-K filings.
Investors and industry observers can use the RES news stream to follow quarterly results, dividend declarations, capital allocation decisions, acquisition announcements and changes in board composition. Bookmarking this page provides a centralized view of RPC’s public communications and helps contextualize the company’s performance within broader oilfield services market conditions as described in its own disclosures.
RPC, Inc. (NYSE: RES) reported Q3 2020 revenues of $116.6 million, down 60.2% from $293.2 million in Q3 2019. Operating loss improved to $31.8 million from $92.6 million. However, net loss was $16.4 million or $0.08 per share, compared to $69.2 million or $0.33 per share a year prior. Adjusted net loss was $20.0 million. Despite a 30.6% sequential revenue increase attributed to rising oilfield activity, management cautioned that current pricing levels remain insufficient for sustainable returns. RPC ended Q3 with $145.6 million cash, debt-free.
RPC, Inc. (NYSE: RES) plans to release its financial results for the third quarter ending September 30, 2020, on October 28, 2020, before the market opens. A conference call will take place on the same day at 9:00 a.m. Eastern Time to discuss the company's financial and operating results. The call will be accessible via toll-free numbers and will also be available for archiving on the company's investor website for 90 days. RPC provides oilfield services primarily in the U.S., including the Gulf of Mexico and other regions.
RPC, Inc. (NYSE: RES) has appointed Gary W. Rollins as the new Chairman of the Board following the passing of R. Randall Rollins on August 17, 2020. Gary Rollins has been with the board since 1984 and holds extensive experience in management, previously serving as President and COO of Orkin. Additionally, Harry J. Cynkus and Jerry W. Nix have joined the board, both bringing valuable financial leadership experience from their previous roles at Rollins, Inc. and Genuine Parts Company, respectively. RPC provides specialized oilfield services, primarily to independent and major oilfield companies.
RPC, Inc. (NYSE: RES) announces the passing of its Chairman of the Board, R. Randall Rollins, who died on August 17, 2020, after a short illness at the age of 88. Randall served as Chairman since 1991 and was instrumental in guiding RPC for nearly 50 years. His leadership was marked by integrity and innovation in the oilfield services sector. Following his death, Lead Director Henry B. Tippie and CEO Richard A. Hubbell will continue their roles until a succession plan is finalized. RPC provides specialized oilfield services primarily in the U.S. and selected international markets.
RPC, Inc. (NYSE: RES) reported its second quarter 2020 results, showing a revenue decline of 75.1% to $89.3 million versus $358.5 million in Q2 2019. The company faced an operating loss of $37.5 million, significantly down from an operating profit of $8.4 million a year ago. Net loss was $25.1 million, equating to $0.12 loss per share. For the first half of 2020, total revenues were $333.1 million, compared to $693.2 million in the same period last year. Despite the challenges, RPC ended the quarter with a cash balance of $145.4 million.
RPC, Inc. (NYSE: RES) will release its second-quarter financial results on July 29, 2020, before the market opens. A conference call to discuss the results is scheduled for the same day at 9:00 a.m. Eastern Time. Participants can join by dialing (833) 579-0910, or (778) 560-2620 for international callers, using conference ID 2329539. The call will also be available via a webcast on RPC's investor website, which will be archived for 90 days.