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Press Releases

 
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Nov 26, 2018
RPC, Inc. to Present at the Jefferies 2018 Energy Conference
Oct 24, 2018
RPC, Inc. Reports Third Quarter 2018 Financial Results
Oct 24, 2018
RPC, Inc. Announces Regular Quarterly Cash Dividend and Special Year-End Cash Dividend
Oct 09, 2018
RPC, Inc. Announces Date for Third Quarter 2018 Financial Results and Conference Call
Sep 04, 2018
RPC, Inc. Announces Presentation at the Barclays CEO Energy-Power Conference
Jul 25, 2018
RPC, Inc. Announces Regular Quarterly Cash Dividend
Jul 25, 2018
RPC, Inc. Reports Second Quarter 2018 Financial Results
Jul 02, 2018
RPC, Inc. Announces Second Quarter 2018 Share Repurchases
Jul 02, 2018
RPC, Inc. Announces Date for Second Quarter 2018 Financial Results and Conference Call
Apr 25, 2018
RPC, Inc. Reports First Quarter 2018 Financial Results
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Non-GAAP Financial Measures

RPC, Inc. uses the following non-GAAP financial measures:

  • Adjusted net loss;
  • Adjusted net income;
  • Adjusted loss per share;
  • Adjusted earnings per share;
  • Adjusted operating loss;
  • Adjusted operating profit
  • Earnings before interest, taxes, depreciation and amortization (EBITDA); and,
  • Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA)

Management believes that presenting these financial measures enable us to compare our operating performance consistently over various time periods without regard to non-recurring items. 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 are reconciliations of these non-GAAP measures with their most comparable GAAP measures:

Reconciliation of Net (Loss) Income to Adjusted Net (Loss) Income
Net (Loss) Income
Add:
Discrete tax adjustment
Impairment and other charges, net of tax
Adjusted Net (Loss) Income

Reconciliation of Net (Loss) Income Per Share to Adjusted Net (Loss) Income Per Share
Net (Loss) Per Share
Add:
Total Impact of Discrete tax adjustment and Impairment and Other Charges
Adjusted Net (Loss) Income Per Share

Reconciliation of Operating (Loss) Profit to Adjusted Operating (Loss) Profit
Operating (loss) profit
Add: Impairment and other charges
Adjusted Operating (Loss) Profit

Reconciliation of Net (Loss) Income to EBITDA and Adjusted EBITDA
Net (Loss) Income
Add:
Income tax (benefit) provision
Interest expense
Depreciation and amortization
Less:
Interest income
EBITDA
Add:
Impairment and other charges
Adjusted EBITDA
Disclaimer:
This website contains statements that constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995, including all statements that look forward in time or express management's beliefs, expectations or hopes. In particular, such statements include, without limitation, statements regarding our belief that we have the ability to endure the remainder of the downturn in our industry; our belief that the suspension of our dividends and resulting superior financial strength will provide us with future higher earnings capacity when the domestic oilfield improves which will be a greater long-term benefit to our stockholders; our intention to resume quarterly dividend payments; the advantages provided by our financial strength, including allowing us to survive the harsh operating environment while maintaining our equipment and operational infrastructure, support future strong revenue and earnings growth when the oilfield services industry begins to grow, and allow us to consider strategic opportunities for growth and diversification which would not be available to many of our peers; our belief that the domestic energy industry has a very viable future; and our belief that our industry is only beginning to see a path towards equilibrium. The actual results of the Company could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties, including, without limitation, those identified under the title "Risk Factors" in the Company's Annual Report on Form 10-K included as a part of this Annual Report. All of the foregoing risks and the uncertainties are beyond the ability of the Company to control, and in many cases the Company cannot predict the risks and uncertainties that could cause its actual results to differ materially from those indicated in the forward-looking statements. Additional discussion of factors that could cause the actual results to differ materially from management's projections, forecasts, estimates and expectations is contained in RPC's Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2017.

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