secwatch.observer — SEC 8-K summary
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Issuer:     RPC INC (RES)
CIK:        0000742278
Form:       8-K
Filed at:   2023-07-26T23:59:59+00:00
Accession:  0001104659-23-084013
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/742278/000110465923084013/0001104659-23-084013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/742278/000110465923084013/tm2322021d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-084013

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