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Dec 31, 2019
Rpc Q4 2019 Earnings Report
RPC reported a decrease in revenues due to lower activity levels and pricing, and a net loss compared to net income in the same period of the prior year.
Key Takeaways
RPC, Inc. announced its Q4 2019 financial results, with revenues decreasing by 37.4% to $236.0 million compared to Q4 2018. The company reported an operating loss of $27.9 million and a net loss of $23.4 million, or $0.11 loss per share, compared to a net income of $13.4 million, or $0.06 diluted earnings per share, in the same period of the prior year.
Revenues decreased by 37.4% to $236.0 million compared to Q4 2018.
Operating loss was $27.9 million compared to operating profit of $19.7 million in the same period of the prior year.
Net loss was $23.4 million, or $0.11 loss per share, compared to net income of $13.4 million, or $0.06 diluted earnings per share, in Q4 2018.
Capital expenditures during the fourth quarter of 2019 were $41.4 million.
Rpc
Rpc
Forward Guidance
As 2020 begins, the company is focused on improving results by improving utilization and well site execution, as well as effectively managing costs.
Positive Outlook
- Improving utilization
- Well site execution
- Effectively managing costs