RPC Q4 net income $87M ($0.40 EPS), revenue $482M, up 4.9% QoQ; EBITDA $135.5M

RPC INC

2022-FY EPS reported $1.01 revenue$1,601,762,000

Revenue $482.0M in Q4 2022, up 4.9% from $459.6M in Q3 2022, driven by improved pricing and utilization.
Net income $87.0M ($0.40 diluted EPS) vs $69.3M ($0.32) in Q3 2022; adjusted EPS $0.41.
EBITDA $135.5M, up 19.8% sequentially; cost of revenues improved to 64.0% of revenue from 67.4%.
Recorded a $2.9M pension settlement charge; pension plan termination expected in Q1 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RPC INC reported the fourth quarter ended December 31, 2022 results: revenue $482.0 million, net income $87.0 million, EPS $0.40 per diluted share.

Period: the fourth quarter ended December 31, 2022
Revenue: $482.0 million
Net income: $87.0 million
EPS: $0.40 per diluted share
Result: reported results

Exact text from the filing

For the quarter ended December 31, 2022, RPC generated revenues of $482.0 million, an increase of 4.9 percent compared to $459.6 million in the third quarter of 2022. The improvement in revenues was driven by improved pricing in most of our service lines and higher equipment utilization supported by a full quarter of operation for our most recently reactivated pressure pumping fleet. Operating profit for the fourth quarter of 2022 was $112.3 million compared to operating profit of $92.2 million in the third quarter of 2022. Net income for the fourth quarter of 2022 was $87.0 million, or $0.40 diluted earnings per share, compared to net income of $69.3 million, or $0.32 diluted earnings per share, in the third quarter of 2022.

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Source: SEC EDGAR

accession 0001104659-23-006359

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