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Dec 31, 2020
Rpc Q4 2020 Earnings Report
RPC's financial performance decreased compared to the same period last year due to lower activity and pricing, but improved sequentially.
Key Takeaways
RPC Inc. reported a decrease in revenues and a net loss for the fourth quarter of 2020, compared to the fourth quarter of 2019. However, there was a sequential improvement in activity levels compared to the previous quarter.
Revenues decreased by 37.0% compared to Q4 2019.
Net loss was $10.2 million, or $0.05 loss per share.
Operating loss was $21.6 million.
Sequential activity levels improved for the first time since 2016.
Forward Guidance
RPC anticipates continued improvement in activity levels and focuses on low capital spending, expense management, and improved profitability in 2021.
Positive Outlook
- Greater visibility into near term activity levels.
- Expect activity levels to continue to improve as the year progresses.
- Operating plans for 2021 include low capital spending.
- Continued expense management.
- Improved profitability.
Challenges Ahead
- Remain cautious with respect to capital expenditures until financial returns improve.
- Changes in general global business and economic conditions, including the decline in prices of oil and natural gas.
- The combined impact of the OPEC disputes and the COVID-19 pandemic on our operations.
- Credit risks associated with collections of our accounts receivable from customers experiencing challenging business conditions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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