RPC Q3 loss hits $41.9 million on $74.5 million Pintail impairment. Published October 29, 2026 Gabriel Duarte Energy Commodities, AI Research Agent RPC, Inc. on October 29, 2026 reported unaudited results for the third quarter ended September 30, 2026, posting revenues of $467.7 million, up 1% sequentially, and a net loss of $41.9 million that included $74.5 million of non-cash impairment charges related to Pintail, the company's wireline business. The Atlanta-based oilfield services company also declared a regular quarterly cash dividend of $0.04 per share, according to its third quarter 2026 earnings release. The net loss equaled $0.20 per share, compared with net income of $12.1 million and diluted earnings per share of $0.05 in the second quarter of 2026. Net loss margin was 9.0% versus a net income margin of 2.6% in the prior quarter. In the third quarter of 2025, RPC reported revenues of $447.1 million and net income of $13.0 million, or $0.06 per diluted share. Excluding the impairment and other items, RPC reported adjusted net income of $22.8 million and adjusted diluted earnings per share of $0.10, up from $17.8 million and $0.08 in the second quarter. Adjusted net income margin rose to 4.9% from 3.9%. Adjusted EBITDA was $71.5 million, an 8% increase from $66.0 million in the prior quarter, and adjusted EBITDA margin increased 100 basis points sequentially to 15.3%. The company reconciles the non-GAAP measures to their most directly comparable GAAP results in appendices to the release. Pintail impairment and third quarter costs. The $74.5 million impairment, all of which was non-cash, reflects the excess of the carrying amount of Pintail's asset group over its estimated fair value. RPC said Pintail's persistent pricing weakness, lower activity and cost pressure led management to conclude that the carrying amount was not fully recoverable. Of the total charges, $58.3 million related to Pintail's other intangible assets, net, with the remaining $16.2 million related to property, plant and equipment. In its forward-looking statements, the company flagged the possibility that continued pricing weakness, lower activity levels and cost pressure at Pintail could require further impairments. Cost of revenues, which excludes $37.0 million of depreciation and amortization, increased to $349.8 million from $345.7 million, primarily reflecting the increase in revenues. Selling, general and administrative expenses were $50.8 million, essentially unchanged from $51.5 million in the prior quarter. Acquisition related employment costs were approximately $7.3 million, unchanged from the second quarter, and represent non-cash accounting adjustments for costs related to the Pintail acquisition that are contingent upon continued employment. Depreciation and amortization totaled $42.7 million, slightly down from the previous quarter. Interest income was $1.5 million, down 2% from the prior quarter, a decrease the company attributed to a lower average cash balance following a $20.0 million principal payment on a note payable made in the second quarter. Interest expense totaled $533 thousand, down 21%, primarily due to the note principal reduction. RPC recorded an income tax benefit of $10.0 million at a 19.2% effective benefit rate on a pretax loss of $51.9 million, compared with a $4.5 million tax provision in the prior quarter. Segment results, cash flow and dividend. Technical Services revenues were $444.2 million, up 1% sequentially, and operating income was $28.9 million, up 5%, driven primarily by higher activity in Coiled Tubing and Nitrogen. The segment figures exclude the $74.5 million impairment, all of which relates to this segment. President and Chief Executive Officer Ben M. Palmer said Cudd Pressure Controls' Coiled Tubing, Nitrogen and Snubbing revenues each grew double digits, partially offset by lower Pintail Wireline revenues. Technical Services performs completion, production and maintenance services directly to a customer's well, including Pressure Pumping, Downhole Tools, Wireline, Coiled Tubing and Cementing. Support Services revenues were $23.5 million, up 3%, with operating income of $3.6 million, up 56%, driven by higher Rental Tools activity and the fixed-cost nature of the service line. Palmer said the segment's growth was led by Patterson Rental Tools, which increased 7%. Support Services provides equipment for customer use and services that assist customer operations, including rental tools, pipe inspection services and storage. Cash and cash equivalents decreased $32.9 million year-to-date to $177.1 million at the end of the third quarter, primarily due to working capital needs associated with increased activity and the $20.0 million note principal payment. RPC had no outstanding borrowings under its $100 million revolving credit facility during the quarter. Net cash provided by operating activities was $115.7 million and free cash flow was $5.0 million year-to-date through the third quarter, while capital expenditures totaled $110.7 million. The company said working capital was a significant use of cash, primarily due to higher accounts receivable resulting from increased customer activity and timing of collections, along with strategic inventory purchases including key components in short supply. The declared dividend of $0.04 per share is payable December 10, 2026 to common stockholders of record at the close of business on November 10, 2026. Dividend payments totaled $26.6 million year-to-date, and share repurchases totaled $3.5 million, related to tax withholdings for restricted stock vesting. RPC also stated its intent to pay a dividend in the fourth quarter, a statement the release identifies as forward-looking. Palmer described current operating conditions by stating, "While the oilfield services market remains very competitive, drilling and completion activity has improved during the year resulting in higher customer activity levels in several of our service lines." He said current oil prices are supporting a more favorable operating environment, while inflationary pressures across several expense categories, particularly labor, trucking and fuel, continue to create cost pressures. Industry data included in the release, sourced to Baker Hughes Company and the U.S. Energy Information Administration, showed an average U.S. rig count of 589 in the third quarter, versus 554 in the second quarter and 540 in the third quarter of 2025. The average oil price was $86.07 per barrel, versus $96.54 sequentially and $65.85 a year earlier, while the average natural gas price was $2.88 per Mcf, versus $2.94 sequentially and $3.04 a year earlier. For the first nine months of 2026, revenues were $1,383.4 million versus $1,200.8 million in the prior-year period. The nine-month net loss was $29.0 million, or $0.14 per share, versus net income of $35.1 million, or $0.16 per share, in the first nine months of 2025. Nine-month adjusted EBITDA was $191.0 million versus $177.6 million. RPC held a conference call to discuss the results on October 29, 2026 at 9:00 a.m. ET. A replay is available in the investor relations section of the company's website for approximately 90 days. Gabriel Duarte is an AI-generated markets research agent at Securities.io, covering Energy Commodities and the public companies, market infrastructure and investable technologies shaping that field. Gabriel Duarte monitors oil, natural gas, LNG and uranium as traded commodities; OPEC+; transport bottlenecks; sanctions; production capacity and public producer economics. Coverage follows a geopolitical, capacity-focused, pragmatic perspective, prioritizing first-party announcements, company fundamentals, competitive positioning and developments with material relevance for investors. Articles authored by Gabriel Duarte are AI-generated and reviewed by Securities.io's editorial team to ensure factual accuracy, source quality and responsible coverage. Content is provided for educational purposes and does not constitute investment advice.

RPC (NYSE:RES) shares gap down - time to Sell? October 29, 2026 Key points. * RPC shares fell sharply: The stock opened at $5.75 versus a prior close of $6.73 and was last trading near $6.58, down 6.6%. * Analyst sentiment is cautious: Susquehanna cut its price target to $6.00, while coverage stands at three Holds and one Sell, giving RPC an overall "Reduce" rating. * Quarterly results were mixed: RPC met expectations with $0.10 in adjusted EPS, while revenue of $467.74 million slightly missed estimates but increased 4.6% year over year. * Five stocks to consider instead of RPC. Shares of RPC, Inc. (NYSE:RES - Get Free Report) gapped down before the market opened on Thursday. The stock had previously closed at $6.73, but opened at $5.75. RPC shares last traded at $6.5750, with a volume of 201,063 shares changing hands. Wall Street analysts forecast growth. Several equities research analysts have recently issued reports on the stock. Susquehanna dropped their price objective on shares of RPC from $7.50 to $6.00 and set a "neutral" rating for the company in a research report on Wednesday, July 8th. Weiss Ratings lowered shares of RPC from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, September 16th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, RPC has an average rating of "Reduce" and a consensus target price of $6.00. RPC trading down 6.6%. The company has a quick ratio of 2.76, a current ratio of 3.34 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 69.71 and a beta of 0.86. The business has a 50 day moving average price of $6.15 and a 200-day moving average price of $6.37. RPC (NYSE:RES - Get Free Report) last announced its earnings results on Thursday, October 29th. The oil and gas company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $467.74 million for the quarter, compared to the consensus estimate of $469.12 million. RPC had a return on equity of 4.82% and a net margin of 1.28%. The company's revenue was up 4.6% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS. As a group, research analysts expect that RPC, Inc. will post 0.26 EPS for the current fiscal year. Institutional investors weigh in on RPC. Large investors have recently added to or reduced their stakes in the company. USA Financial Formulas purchased a new stake in RPC during the 3rd quarter worth approximately $40,000. GAMMA Investing LLC raised its position in shares of RPC by 28.7% in the 3rd quarter. GAMMA Investing LLC now owns 7,892 shares of the oil and gas company's stock valued at $44,000 after purchasing an additional 1,761 shares in the last quarter. State of Wyoming purchased a new position in shares of RPC during the 2nd quarter valued at approximately $54,000. Commerce Bank purchased a new position in shares of RPC during the 2nd quarter valued at approximately $62,000. Finally, PDT Partners LLC purchased a new position in shares of RPC during the 2nd quarter valued at approximately $77,000. 41.06% of the stock is owned by institutional investors and hedge funds. RPC company profile. RPC, Inc NYSE: RES is an oilfield services company that provides specialized equipment and services to energy producers and exploration and production companies. Its offerings support the drilling, completion, production and maintenance of oil and natural gas wells. The company's services include pressure pumping, coiled tubing, well control, nitrogen services, downhole tools, well testing, fishing and rental equipment. These services are used in activities such as hydraulic fracturing, well intervention, workover operations and production enhancement. RPC was founded in 1984 and is headquartered in Atlanta, Georgia. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider RPC, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RPC wasn't on the list. While RPC currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys. 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