secwatch.observer — SEC 8-K summary
======================================

Issuer:     RPC INC (RES)
CIK:        0000742278
Form:       8-K
Filed at:   2024-01-25T23:59:59+00:00
Accession:  0001558370-24-000491
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RPC Q4 net income jumps 120% sequentially to $40.3M; debt-free with $223M cash
------------------------------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/742278/000155837024000491/0001558370-24-000491-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/742278/000155837024000491/res-20240125x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-000491

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