secwatch.observer — SEC 8-K summary
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Issuer:     RPC INC (RES)
CIK:        0000742278
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0001558370-24-010104
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RPC Q2 2024 net income up 18% sequentially to $32.4M, revenue down 4% to $364.2M
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- Revenue $364.2M (-4% seq), net income $32.4M (+18% seq), diluted EPS $0.15, net income margin 8.9%.
- Adjusted EBITDA $68.5M (+9% seq), margin 18.8% (+210 bps); cost controls offset revenue decline.
- Pressure pumping revenue fell 17% sequentially; other service lines up 8%, led by downhole tools and coiled tubing.
- Cash $261.5M, no debt; declared $0.04/share dividend payable Sept 10, 2024 to holders of record Aug 9.
- YTD free cash flow $56.7M; received $52.8M IRS tax refund in Q2.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/742278/000155837024010104/0001558370-24-010104-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/742278/000155837024010104/res-20240725x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-010104

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