RPC, Inc. Reports Second Quarter 2026 Financial Results And Declares Regular Quarterly Cash Dividend

ATLANTA , July 30, 2026 /PRNewswire/ -- RPC, Inc. (NYSE: RES ) ("RPC" or the "Company"), a leading diversified oilfield services company, announced its unaudited results for the second quarter ended June 30, 2026. Non-GAAP and adjusted measures may include Adjusted operating income, Adjusted net income, Adjusted net income margin, Adjusted earnings per share (diluted), EBITDA and Adjusted EBITDA, Adjusted EBITDA margin, and Free cash flow which are reconciled to the most directly comparable GAAP measures in the appendices of this earnings release. Sequential comparisons are to 1Q:26. The Company thinks quarterly sequential comparisons are most useful in assessing industry trends and RPC's recent financial results. Both sequential and year-over-year comparisons are available in the tables at the end of this earnings release. Second Quarter 2026 Highlights Revenues increased 1% sequentially to $460.9 million Net income was $12.1 million, compared to Net income of $0.9 million in the prior quarter, and diluted Earnings Per Share (EPS) was $0.05; Net income margin increased 240 basis points sequentially to 2.6% Adjusted net income was $17.8 million, compared to $7.6 million in the prior quarter, and Adjusted diluted EPS was $0.08; Adjusted net income margin was 3.9%. See Appendices B and C for additional details Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) was $66.0 million, compared to $53.5 million in the prior quarter; Adjusted EBITDA margin increased 250 basis points sequentially to 14.3%. See Appendix C for additional details The Board of Directors declared a regular quarterly cash dividend of $0.04 per share, payable on September 10, 2026, to common stockholders of record at the close of business on August 10, 2026 Management Commentary "During the quarter our Technical Services segment experienced modest revenue increases. Within Technical Services, Cudd Pressure Controls' Snubbing, Spinnaker's Cementing, and Thru-Tubing Solutions' Downhole Tools generated double-digit revenue increases, which were mostly offset by lower Pintail Wireline revenues. Our Support Services segment revenues were up 11% sequentially led by Patterson Rental Tools, which generated a 21% increase compared to the seasonally weak first quarter." "During the second quarter we saw reasons for optimism with some improved pricing and activity visibility. This allowed us an opportunity to support targeted growth through a modest increase in CapEx. Oil price volatility keeps us cautious, but our balance sheet affords us the ability to invest opportunistically." "As previously announced, after 30 years with RPC, I believe now is the right time to retire and transition to the Company's next generation of leadership. I am committed to working closely with the Board to ensure continuity and a smooth transition, leaving RPC well-positioned with strong brands, a solid balance sheet, and a disciplined focus on full cycle returns that drive long-term shareholder value. I am blessed to have spent the last three decades working with a wonderful and dedicated group of people," stated Ben M. Palmer, RPC's President and Chief Executive Officer. Selected Industry Data (Source: Baker Hughes, Inc., U.S. Energy Information Administration) 2Q:26 1Q:26 Change % Change 2Q:25 Change % Change Average U.S. Rig Count 554 548 6 1.1 % 571 (17) (3.0) % Average Oil Price ($/barrel) $ 96.54 $ 70.54 $ 26.00 36.9 % $ 64.74 $ 31.80 49.1 % Average Natural Gas Price ($/Mcf) $ 2.94 $ 4.81 $ (1.87) (38.9) % $ 3.20 $ (0.26) (8.1) % 2Q:26 Consolidated Financial Results (sequential comparisons to previous quarter) Revenues were $460.9 million, up 1%. Within the Technical Services segment, revenues increased 1% sequentially, with increases in Snubbing, Cementing and Downhole Tools mostly offset by a decrease in Wireline revenues. Support Services segment revenues were up 11% primarily due to a 21% increase in Rental Tools. Cost of revenues , which excludes depre...