8-K
filed January 25, 2024, 6:59 PM ET
ticker RES
CIK 0000742278
earnings
confidence high
sentiment positive
materiality 0.70
RPC Q4 net income jumps 120% sequentially to $40.3M; debt-free with $223M cash
RPC INC
2023-FY EPS reported
$0.90
revenue$1,617,474,000
- Revenue $394.5M (+19% seq) on pressure pumping rebound; net income $40.3M ($0.19 EPS) up 120% seq.
- Full-year 2023 revenue $1.6B, net income $195.1M ($0.90 EPS); adjusted EBITDA $374.4M (23.1% margin).
- Declared $0.04/share quarterly dividend, payable March 11, 2024 to holders of record Feb 9.
- Debt-free with $223M cash; bought back $8.6M of stock in Q4 (1.2M shares), $21.1M full year.
- Acquired Spinnaker cementing (closed Jul 2023); new Tier 4 dual-fuel fleet order for Q2 2024.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
RPC INC reported fourth quarter ended December 31, 2023 results: revenue $394.5 million, net income $40.3 million, EPS $0.19.
- Period
- fourth quarter ended December 31, 2023
- Revenue
- $394.5 million
- Net income
- $40.3 million
- EPS
- $0.19
- Result
- reported results
Exact text from the filing
and year-over-year comparisons are available in the tables at the end of this earnings release. Fourth Quarter 2023 Highlights ● Revenues increased 19% sequentially to $394.5 million ● Net income was $40.3 million, up 120% sequentially, and diluted earnings per share (EPS) was $0.19; net income margin increased 470 basis points sequentially to 10.2% ●
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
RPC INC reported full year ended December 31, 2023 results: revenue $1.6 billion, net income $195.1 million, EPS $0.90.
- Period
- full year ended December 31, 2023
- Revenue
- $1.6 billion
- Net income
- $195.1 million
- EPS
- $0.90
- Result
- reported results
Exact text from the filing
from significantly higher pressure pumping fleet utilization compared to the third quarter of 2023 Full Year 2023 Highlights ● Revenues increased 1% year-over-year to $1.6 billion ● Net income was $195.1 million and diluted EPS was $0.90; net income margin was 12.1% ● Adjusted EBITDA was $374.4 million, with Adjusted EBITDA margin of 23.1% ● Net cash flow
View on SEC.gov
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