secwatch.observer — SEC 8-K summary
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Issuer:     RPC INC (RES)
CIK:        0000742278
Form:       8-K
Filed at:   2023-04-26T23:59:59+00:00
Accession:  0001104659-23-049883
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RPC Q1 2023 revenue $476.7M, net income $71.5M ($0.33 EPS), down from Q4 2022
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- Revenue $476.7M, down 1% from Q4 2022's $482.0M; operating profit $90.7M vs $112.3M.
- Net income $71.5M ($0.33 diluted EPS) vs $87.0M ($0.40) in Q4 2022; adjusted EPS $0.39.
- Non-cash pension settlement charge of $17.4M recorded in Q1 2023.
- Adjusted EBITDA $132.9M vs $138.4M in Q4 2022; cost of revenues 64.0% of revenue.
- Weather disruptions and change in job mix in pressure pumping impacted results.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/742278/000110465923049883/0001104659-23-049883-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/742278/000110465923049883/tm2313765d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-049883

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer