RPC Q4 EPS misses analyst expectations due to holiday slowdowns, higher wireline costs

Reuters
Feb 03
RPC Q4 EPS misses analyst expectations due to holiday slowdowns, higher wireline costs

Overview

  • Oilfield services firm's Q4 revenue slightly missed analyst expectations

  • Adjusted EPS for Q4 missed analyst expectations

  • Company experienced revenue decline due to holiday slowdowns and increased wireline expenses

Outlook

  • RPC expects crude oil price volatility due to geopolitical developments

  • RPC aims to deliver full cycle returns by maintaining cost discipline

Result Drivers

  • HOLIDAY SLOWDOWNS - Revenue decline attributed to holiday slowdowns affecting customer activity, as stated by CEO Ben M. Palmer

  • WIRELINE CABLE EXPENSES - Transition to expensing wireline cables negatively impacted adjusted EBITDA by $4.6 million

  • SEGMENT DECLINES - Technical Services and Support Services segments saw revenue declines due to reduced activity and job shifts

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q4 Revenue

Slight Miss*

$425.78 mln

$426.46 mln (3 Analysts)

Q4 Adjusted EPS

Miss

$0.04

$0.06 (4 Analysts)

Q4 Adjusted Net Income

Miss

$9.40 mln

$13.06 mln (3 Analysts)

Q4 Net Income

-$3.06 mln

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Press Release: ID:nPn9SRVwXa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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