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Profile

Highlights:
  • 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 style 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 provides a number of services which are useful throughout the life cycle of a well. However, three service lines which account for more than 85% 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.

  • Non-GAAP Financial Measures

    RPC, Inc. uses the non-GAAP financial measures of net income and diluted earnings per share excluding the impact of Tax Reform. These measures should not be considered in isolation or as a substitute for net income, earnings per share, or other performance measures prepared in accordance with GAAP.

    Management believes that presenting the operating results without the impact of Tax Reform enables us to compare our operating performance consistently over various time periods.

    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 below is a reconciliation of this non-GAAP measure with its most comparable GAAP measures.

    Reconciliation of net income and diluted earnings per share excluding the impact of Tax Reform

    Net Income (Loss)
    Impact of Tax Reform
    Net income (loss) excluding the impact of Tax Reform

    Diluted earnings (Loss) per share
    Impact of Tax Reform
    Diluted earnings (loss) per share excluding the impact of Tax Reform

    RPC also uses the non-GAAP financial measure of earnings before interest, taxes, depreciation and amortization (EBITDA). EBITDA should not be considered in isolation or as a substitute for operating income, net income or other performance measures prepared in accordance with GAAP. RPC uses EBITDA as a measure of operating performance because it allows us to compare performance consistently over various periods without regard to changes in our capital structure. We are also required to use EBITDA to report compliance with financial covenants under our revolving credit facility. 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 below is a reconciliation of EBITDA with Net Income, the most comparable GAAP measure.

    Reconciliation of Net Income to EBITDA

    Net Income

    Add:
    Income tax provision
    Interest expense
    Depreciation and amortization

    Less:
    Interest income

    EBITDA


    Summary

    RPC is a holding company for several oilfield services companies and is headquartered in Atlanta, Georgia. RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets. RPC acts as a holding company for its operating units: Cudd Energy Services, ThruTubing Solutions and Patterson Services. Selected overhead including centralized support services and regulatory compliance are classified under Corporate. RPC is further organized into Technical Services and Support Services which are its operating segments.

    Business Segments

    RPC manages two operating segments - Technical Services and Support Services.

    Technical Services includes RPC’s oilfield service lines that utilize people and equipment to perform value-added completion, production and maintenance services directly to a customer’s well. These services are generally directed toward improving the flow of oil and natural gas from producing formations or to address well control issues. The Technical Services segment includes pressure pumping, coiled tubing, hydraulic workover services, nitrogen, downhole tools, surface pressure control equipment, well control and fishing tool operations.

    Support Services includes RPC’s oilfield service lines that provide equipment for customer use or services to assist customer operations. The equipment and services offered include rental of drill pipe and related tools, pipe handling, inspection and storage services, and oilfield training services.

    RPC, Inc. Q3 2020 Earnings Conference Call
    2019 Annual Report
    RPC, Inc. to Present at the 2019 Southest IDEAS Investor Conference
    2018 Annual Report
    2017 Annual Report
    2016 Annual Report
    2015 Annual Report
    2014 Annual Report
     
    As of Nov 25, 2020 5:00 PM ET
    NYSE   RES   $3.61    -0.04  -1.10%
    Open: 3.60  Prev Close: 3.65
    Day High: 3.63  Day Low: 3.50
    Year High: 5.35    Year Low: 1.73
    Volume: 466,483
    Market Cap: $776,393,939
    Outstanding: 215,067,573
    Outstanding as of: Feb 17, 2017
    Quote delayed 15 minutes
     

     


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    Investor Relations:
    James C. Landers
    V.P. Corporate Finance
    JLanders@rpc.net
    Phone:  (404) 321-2162
    Sharon A. Gardner
    Manager Investor Relations and Corporate Communications
    SGardner@rpc.net
    Phone:  (404) 321-2172

    Address:
    RPC, Inc.
    2801 Buford Highway NE
    Suite 300
    Atlanta, GA 30329
    United States Of America
    Employees: 2,500

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