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

Issuer:     RPC INC (RES)
CIK:        0000742278
Form:       8-K
Filed at:   2024-10-24T23:59:59+00:00
Accession:  0001558370-24-013561
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RPC Q3 revenues $337.7M (-7% seq); net income $18.8M (-42% seq); EPS $0.09
--------------------------------------------------------------------------

- Revenue decreased 7% sequentially to $337.7M; pressure pumping down 12% while other service lines down 4%.
- Net income of $18.8M ($0.09 diluted EPS) vs $32.4M ($0.15) in Q2; net income margin fell 330 bps to 5.6%.
- Adjusted EBITDA of $55.2M, down 19% sequentially; margin 16.4% vs 18.8% in Q2.
- Technical Services operating income $16.3M (-46% seq); Support Services operating income $5.3M (+21% seq).
- Declared $0.04/share quarterly dividend payable Dec 10, 2024; ended quarter with $276.9M cash and no debt.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/742278/000155837024013561/0001558370-24-013561-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/742278/000155837024013561/res-20241024x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-013561

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