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Dec 31, 2024
Rpc Q4 2024 Earnings Report
RPC reported financial results and declared regular quarterly cash dividend.
Key Takeaways
RPC, Inc. reported a slight sequential improvement in pressure pumping results, while the rest of the business was generally soft, reflecting typically lower fourth quarter customer activity. Revenues decreased 1% sequentially to $335.4 million and net income was $12.8 million, down 32% sequentially.
Revenues decreased 1% sequentially to $335.4 million
Net income was $12.8 million, down 32% sequentially, and diluted Earnings Per Share (EPS) was $0.06
Adjusted EBITDA was $46.1 million, down 17% sequentially; Adjusted EBITDA margin decreased 270 basis points to 13.7%
Results reflected improved utilization driving higher revenues in pressure pumping, while the Company’s other service lines’ revenues were generally lower due to seasonal softness
Revenue by Segment
Forward Guidance
Looking forward in 2025, we are optimistic about our new products and services in downhole tools gaining traction after early positive results in 2024. We plan to continue investing in innovation across the business and project capital spending in the range of $150 million to $200 million this year. Pursuing acquisitions to expand our business remains another key strategic priority, and we remain focused on targeting high cash flow, profitable operations with strong customer bases. Our debt-free balance sheet remains strong and liquid, with over $300 million in cash at year end to fund organic investments, potential acquisitions and capital returns to our investors
Positive Outlook
- Optimistic about new products and services in downhole tools gaining traction after early positive results in 2024.
- Plan to continue investing in innovation across the business.
- Project capital spending in the range of $150 million to $200 million this year.
- Pursuing acquisitions to expand our business remains another key strategic priority.
- Remain focused on targeting high cash flow, profitable operations with strong customer bases.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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