RPC Q2 2023 revenue $415.9M, EPS $0.30, down QoQ on job delays

RPC INC

2023-Q2 EPS reported $0.63 revenue$892,526,000

Revenue fell to $415.9M from $476.7M in Q1; operating profit down to $82.4M from $90.7M.
Net income $65.0M ($0.30 diluted EPS) vs. $71.5M ($0.33) in prior quarter.
Adjusted EBITDA $110.1M, down from $132.9M in Q1.
Job delays/cancellations by pressure pumping customers and weaker natural-gas basins drove the decline.
Recorded a non-cash pension settlement charge of $911K in Q2 (vs. $17.4M in Q1).

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 second quarter ended June 30, 2023 results: revenue $415.9 million, net income $65.0 million, EPS $0.30 diluted earnings per share.

Period: the second quarter ended June 30, 2023
Revenue: $415.9 million
Net income: $65.0 million
EPS: $0.30 diluted earnings per share
Result: reported results

Exact text from the filing

and development of oil and gas properties throughout the United States and in selected international markets. For the quarter ended June 30, 2023, RPC generated revenues of $415.9 million, a decrease compared to $476.7 million in the first quarter. Revenues declined due to job delays and cancellations by several pressure pumping customers as well as weaker

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Source: SEC EDGAR

accession 0001104659-23-084013

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