RPC INC — fact timeline

Ben M. Palmer retired as President and Chief Executive Officer at RPC INC.

“On June 16, 2026, Ben M. Palmer, Director, President, and Chief Executive Officer of RPC, Inc. (the “Company”), notified the Company of his decision to retire as Director, President, and Chief Executive Officer, effective on the earlier of a successor being named or December 31, 2026, after which he will remain in an advisory capacity to support the transition of leadership.”

RPC INC reported the first quarter ended March 31, 2026 results: revenue $454.8 million, net income $0.9 million, EPS $0.00.

“and year-over-year comparisons are available in the tables at the end of this earnings release. ​ First Quarter 2026 Highlights ​ ● Revenues increased 7% sequentially to $454.8 million ● Net income was $0.9 million, compared to net loss of $3.1 million in the prior quarter, and diluted Earnings Per Share (EPS) was $0.00; Net income margin increased 90 basis”

RPC INC shareholders approved Approval of amendments to the Company’s 2024 Stock Incentive Plan at the 2026-04-28 meeting.

“approved certain amendments to the Company’s 2024 Stock Incentive Plan”

RPC INC shareholders approved Approval and ratification of certain previous grants of performance stock units to Executive Chairman at the 2026-04-28 meeting.

“approved and ratified certain previous grants of performance stock units to our Executive Chairman”

RPC INC shareholders approved Approval and ratification of certain previous grants of performance stock units to CEO at the 2026-04-28 meeting.

“approved and ratified certain previous grants of performance stock units to our Chief Executive Officer”

RPC INC shareholders approved Non-binding vote on executive compensation at the 2026-04-28 meeting.

“held a non-binding vote on executive compensation”

RPC INC shareholders approved Ratification of appointment of Grant Thornton LLP as independent registered public accounting firm for fiscal year ending December 31, 2026 at the 2026-04-28 meeting.

“ratified the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026”

RPC INC shareholders approved Election of ten Nominees to the Board of Directors at the 2026-04-28 meeting.

“elected ten Nominees to the Board of Directors”

RPC INC incurred debt of $50 million in the form of a secured note payable with Houston Companies, L.P. at variable rate equal to the Simple Secured Overnight Financing Rate, or SOFR, for maturing three years from the Closing Date.

“$50 million in the form of a secured note payable to Houston LP (the “Seller Note”)”

RPC INC completed an acquisition involving Pintail Alternative Energy, L.L.C. for $245 million (closed 2025-04-01).

“is a leading provider of wireline services in support of pump-down perforation operations in the greater Permian Basin. ​ Transaction Consideration ​ The purchase price was $245 million for 100% of Pintail’s equity. The Transaction consideration consisted of approximately $170 million of cash, to be adjusted as noted below, $25 million of RPC common stock”

Pamela R. Rollins departed as Director at RPC INC.

“On February 18, 2025, each of Gary W. Rollins and Pamela R. Rollins informed the Board of Directors of RPC, Inc. (the “Company”) that, after long periods of service, they each intended to retire from the Board and would not stand for re-election at the Company’s 2025 Annual Meeting of Stockholders.”

Gary W. Rollins departed as Director at RPC INC.

“On February 18, 2025, each of Gary W. Rollins and Pamela R. Rollins informed the Board of Directors of RPC, Inc. (the “Company”) that, after long periods of service, they each intended to retire from the Board and would not stand for re-election at the Company’s 2025 Annual Meeting of Stockholders.”

RPC INC: Amended and Restated Bylaws adopted to declassify the board, provide for annual director elections, update removal provisions, clarify officer duties, add federal forum for Securities Act claims, impose stockholder liability for bylaw breaches, and enhance procedural requirements for stockholder nom (effective 2025-01-28).

“On January 28, 2025, the RPC, Inc. (the "Company") Board of Directors approved and adopted amended and restated bylaws (the "Amended and Restated Bylaws"), which became effective the same day. Among other things, the amendments contained in the Amended and Restated Bylaws effected the following changes:”

RPC INC reported the first quarter ended March 31, 2024 results: revenue $377.8 million, net income $27.5 million, EPS $0.13.

“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% ●”

RPC INC reported full year ended December 31, 2023 results: revenue $1.6 billion, net income $195.1 million, EPS $0.90.

“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”

RPC INC reported fourth quarter ended December 31, 2023 results: revenue $394.5 million, net income $40.3 million, EPS $0.19.

“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% ●”

RPC INC reported third quarter ended September 30, 2023 results: revenue 330.4 million, net income 18.3 million, EPS 0.08.

“business positively contributed to our financial results,” concluded Palmer. Consolidated Financial Results For the quarter ended September 30, 2023, RPC generated revenues of $330.4 million, a decrease compared to $415.9 million in the second quarter. Revenues fell primarily due to declines in RPC’s pressure pumping business due to lower customer activity,”

RPC INC reported the second quarter ended June 30, 2023 results: revenue $415.9 million, net income $65.0 million, EPS $0.30 diluted earnings per share.

“and development of oil and gas properties throughout the United States and in selected international markets. For the quarter ended June 30, 2023, RPC generated revenues of $415.9 million, a decrease compared to $476.7 million in the first quarter. Revenues declined due to job delays and cancellations by several pressure pumping customers as well as weaker”

RPC INC entered into Merger Agreement with Spinnaker Oilwell Services LLC valued at $79.5 million (effective 2023-06-30).

“On June 30, 2023 (“Closing Date”), Cudd Pumping Services, Inc., a Delaware corporation (“Cudd ”), entered into a Merger Agreement (the “Merger Agreement”) by and among Cudd, RPC 123, LLC (“Merger Sub”), a Delaware limited liability company and a wholly-owned subsidiary of Cudd, Spinnaker Oilwell Services LLC, a Delaware limited liability company ( “Spinnaker”), and Catapult Energy Services Group, LLC, a Delaware limited liability company (“Catapult”), solely in its capacity as the representative of Spinnaker’s members pursuant to the Merger Agreement and in its capacity as paying agent under the Merger Agreement.”

RPC INC reported the first quarter ended March 31, 2023 results: revenue $476.7 million, net income $71.5 million, EPS $0.33 diluted earnings per share.

“For the quarter ended March 31, 2023, RPC generated revenues of $476.7 million, a slight decrease compared to $482.0 million in the fourth quarter of 2022. Revenues were impacted by weather disruptions and a change in the job mix in pressure pumping, RPC’s largest service line. Operating profit for the first quarter of 2023 was $90.7 million compared to $112.3 million in the fourth quarter of 2022. Net income for the first quarter of 2023 was $71.5 million, or $0.33 diluted earnings per share, compared to net income of $87.0 million, or $0.40 diluted earnings per share, in the fourth quarter of 2022.”

RPC INC reported the fourth quarter ended December 31, 2022 results: revenue $482.0 million, net income $87.0 million, EPS $0.40 per diluted share.

“For the quarter ended December 31, 2022, RPC generated revenues of $482.0 million, an increase of 4.9 percent compared to $459.6 million in the third quarter of 2022. The improvement in revenues was driven by improved pricing in most of our service lines and higher equipment utilization supported by a full quarter of operation for our most recently reactivated pressure pumping fleet. Operating profit for the fourth quarter of 2022 was $112.3 million compared to operating profit of $92.2 million in the third quarter of 2022. Net income for the fourth quarter of 2022 was $87.0 million, or $0.40 diluted earnings per share, compared to net income of $69.3 million, or $0.32 diluted earnings per share, in the third quarter of 2022.”

Timothy C. Rollins was appointed as Director at RPC INC.

“On October 25, 2022, the Board of Directors of RPC, Inc. (the “Company”) appointed Timothy C. Rollins as Director effective October 25, 2022.”

Ben M. Palmer changed role as President and Chief Executive Officer at RPC INC.

“Ben M. Palmer was appointed to serve as President and Chief Executive Officer of the Company for a period of one year or until his successor is appointed, effective upon the resignation of Mr. Hubbell from that position, which occurred on the Effective Date.”

Gary W. Rollins resigned as Non-Executive Chairman at RPC INC.

“Gary W. Rollins, who served as Non-Executive Chairman following the passing of Mr. R. Randall Rollins, resigned from that position on the Effective Date, but remains on the Board.”

Richard A. Hubbell was appointed as Executive Chairman of the Board at RPC INC.

“Richard A. Hubbell was appointed to serve as Executive Chairman of the Board for a period of one year or until his successor is appointed, effective upon the resignation of Gary W. Rollins as Non-Executive Chairman of the Board.”

John F. Wilson was appointed as Director at RPC INC.

“On April 26, 2022, the Board of Directors of RPC, Inc. (the “Company”) appointed John F. Wilson as Director effective April 26, 2022.”

Harry J. Cynkus departed as Director at RPC INC.

“On December 9, 2021, Harry J. Cynkus informed the Board of Directors (the “Board”) of RPC, Inc., that he would be resigning from the Board, effective December 31, 2021.”