RPC Inc ( (RES) ) has released its Q4 earnings. Here is a breakdown of the information RPC Inc presented to its investors.
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RPC Inc. is a diversified oilfield services company providing specialized services and equipment to major and independent oilfield companies primarily in the United States. The company recently released its earnings report for the fourth quarter and full year of 2024, highlighting a mixed performance with a slight decrease in revenues and net income.
In the fourth quarter of 2024, RPC Inc. reported a 1% decrease in revenues to $335.4 million, with net income falling by 32% to $12.8 million. The company’s pressure pumping services saw improved utilization, but overall results were impacted by seasonal softness in other service lines. For the full year, revenues decreased by 13% to $1.4 billion, with a net income of $91.4 million.
Key financial metrics for 2024 included an adjusted EBITDA of $233.0 million and a free cash flow of $129.5 million. Despite the challenges, RPC Inc. maintained a debt-free status, distributing $34.4 million in dividends and repurchasing $9.9 million of common stock. The company plans to invest $150 million to $200 million in capital spending in 2025, focusing on innovation and potential acquisitions.
Looking ahead, RPC Inc. remains optimistic about its new products and services, particularly in downhole tools, which are expected to gain traction in 2025. With a strong cash position, the company is well-positioned to pursue strategic growth opportunities and enhance shareholder value.
