Profile:
RPC is a holding company for several oilfield service operating companies, all of which have a history of conservative operating philosophies. RPC's corporate management philosophy throughout the years has been characterized by a long-term view of the oilfield operating cycles and a conservative capital structure, which are partially responsible for our historically high returns on invested capital.
RPC currently operates a number of products and services offered throughout the life cycle of a well. However, three service lines which account for more than 80% of RPC's revenues have benefited tremendously from the growth in directional and horizontal completion in the U.S. land market. These services serve our customers equally in natural gas and oil-directed completion operations.
RPC continues to seek out growth opportunities which will yield a high return on invested capital over time.
Investor Relations Contacts:
Mark Chekanow, CFA
Vice President, Corporate Development & Investor Relations
Telephone: (404) 419-3809
Mark.Chekanow@rpc.net
Sharon A. Gardner
Senior Manager Investor Relations & Corp. Communications
and Assistant Corporate Secretary
Telephone: (404) 321-2172
SGardner@rpc.net
Transfer Agent and Registrar:
For inquiries related to stock certificates, including changes of address, please contact:
For inquiries related to removing a stock legend, please contact:
Equiniti Trust Company, LLC
Attn: Legal Department
55 Challenger Road, 2nd Floor
Ridgefield Park, NJ 07660
Corporate Offices:
2801 Buford Hwy NE, Suite 300
Atlanta, GA 30329
(404) 321-2140
Fax: (404) 321-5483
irdept@rpc.net
Corporate Sustainability Report
Please see the Corporate Responsibility tab for RPC, Inc.’s Corporate Sustainability Report and additional Policies relating to Environmental, Social and Governance (ESG) related initiatives.
Non-GAAP Financial Measures RPC, Inc. uses the non-GAAP financial measures of adjusted operating income, adjusted net income, adjusted diluted earnings per share, EBITDA, adjusted EBITDA, adjusted EBITDA margin, and free cash flow. These measures should not be considered in isolation or as a substitute for performance or liquidity measures prepared in accordance with GAAP. Management believes that presenting these non-GAAP measures enables investors to compare the operating performance of our core business consistently over various time periods, and in the case of adjusted EBITDA, without regard to changes in our capital structure. Management believes that free cash flow, which measures our ability to generate additional cash from our business operations, is an important financial measure for use in evaluating RPC's financial performance. Free cash flow should be considered in addition to, rather than as a substitute for, net income as a measure of our performance and net cash provided by operating activities as a measure of our liquidity. Additionally, RPC’s definition of free cash flow is limited, in that it does not represent residual cash flows available for discretionary expenditures, due to the fact that the measure does not deduct the payments required for debt service and other contractual obligations or payments made for business acquisitions. Therefore, management believes it is important to view free cash flow as a measure that provides supplemental information to our Condensed Consolidated Statements of Cash Flows.
A non-GAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that either 1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of operations, balance sheet or statement of cash flows, or 2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented.
Set forth in the formula below are reconciliations of these non-GAAP measures that are used within earnings press releases with their most directly comparable GAAP measures:
Reconciliation of Operating Income to Adjusted Operating Income
Operating Income
Add:
Pension settlement charges
Equals: Adjusted operating income
Reconciliation of Net Income to Adjusted Net Income
Net Income
Add:
Pension settlement charges, net of tax
Less:
Tax effect of pension settlement charges
Equals: Adjusted net income
Reconciliation of Diluted Earnings Per Share to Adjusted Diluted Earnings Per Share
Diluted Earnings Per Share
Add:
Pension settlement charges, net of tax
Less:
Tax effect of pension settlement charges
Equals: Adjusted diluted earnings per share
Reconciliation of Net Income to EBITDA and Adjusted EBITDA
Net Income
Add:
Income tax provision
Interest expense
Depreciation and amortization
Less:
Interest Income
Equals: EBITDA
Add:
Pension settlement charges
Equals: Adjusted EBITDA
Reconciliation of Operating Cash Flow to Free Cash Flow
Net cash provided by operating activities
Add:
Capital expenditures
Equals: Free cash flow
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