secwatch.observer — SEC 8-K summary
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Issuer:     RPC INC (RES)
CIK:        0000742278
Form:       8-K
Filed at:   2023-10-25T23:59:59+00:00
Accession:  0001104659-23-111232
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RPC Q3 2023 revenue $330.4M, net income $18.3M; EPS $0.08 vs $0.30 in Q2
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- Revenue $330.4M, down 21% sequentially from Q2 $415.9M; net income $18.3M ($0.08 diluted EPS) vs $65.0M ($0.30).
- Adjusted operating profit $22.7M vs $83.3M in Q2; adjusted EBITDA $51.9M vs $110.1M.
- Pressure pumping business weaker than expected; Spinnaker cementing acquisition contributed positively in its first full quarter.
- CEO cites pricing discipline and service readiness; expects busier Q4 with acceptable terms.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/742278/000110465923111232/0001104659-23-111232-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/742278/000110465923111232/tm2329057d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-111232

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