---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-005675"
form_type: "8-K"
ticker: "RES"
cik: "0000742278"
company_name: "RPC INC"
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T08:46:54.234920+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# RPC Q1 2024 revenue $377.8M, net income $27.5M, down 32% sequentially; declares $0.04 dividend

## Summary
- Revenue of $377.8M decreased 4% sequentially; net income $27.5M (diluted EPS $0.13) down 32% sequentially.
- Adjusted EBITDA $63.1M, margin 16.7%, down 340 bps sequentially; cost pressures and competitive pricing cited.
- Technical Services revenue $356.4M (-4% seq), operating income $32.0M (-31% seq); Support Services revenue $21.4M (-9% seq), op income $3.6M (-29% seq).
- Cash $212.2M, debt-free; paid $8.6M dividends, repurchased $9.9M stock in Q1; new $0.04/share dividend declared payable June 10.
- Management optimistic that if oil prices hold, customer activity could increase in H2 2024; new Tier 4 dual-fuel fleet on track for mid-2024.

## SEC filing metadata
- accession: 0001558370-24-005675
- form_type: 8-K
- ticker: RES
- cik: 0000742278
- company_name: RPC INC
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/742278/000155837024005675/0001558370-24-005675-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/742278/000155837024005675/res-20240425x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-005675
- JSON: https://secwatch.observer/filing/0001558370-24-005675.json
- Plain text: https://secwatch.observer/filing/0001558370-24-005675.txt

## Key facts
- Earnings Releases
  RPC INC reported the first quarter ended March 31, 2024 results: revenue $377.8 million, net income $27.5 million, EPS $0.13.
  - Period: the first quarter ended March 31, 2024
  - Revenue: $377.8 million
  - Net income: $27.5 million
  - EPS: $0.13
  - Result: reported results
  source text: and year-over-year comparisons are available in the tables at the end of this earnings release. ​ First Quarter 2024 Highlights ​ ● Revenues decreased 4% sequentially to $377.8 million ● Net income was $27.5 million, down 32% sequentially, and diluted Earnings Per Share (EPS) was $0.13; net income margin decreased 290 basis points sequentially to 7.3% ●
  evidence_url: https://www.sec.gov/Archives/edgar/data/742278/000155837024005675/0001558370-24-005675-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.