RPC, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 26, 2023 at 04:15 pm IST
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RPC, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 415.86 million compared to USD 375.51 million a year ago. Net income was USD 65.01 million compared to USD 46.94 million a year ago. Basic earnings per share from continuing operations was USD 0.3 compared to USD 0.22 a year ago. Diluted earnings per share from continuing operations was USD 0.3 compared to USD 0.22 a year ago.
For the six months, sales was USD 892.53 million compared to USD 660.13 million a year ago. Net income was USD 136.54 million compared to USD 62.02 million a year ago. Basic earnings per share from continuing operations was USD 0.63 compared to USD 0.29 a year ago. Diluted earnings per share from continuing operations was USD 0.63 compared to USD 0.29 a year ago.
RPC, Inc. acts as a holding company for several oilfield services companies that include Cudd Energy Services, Cudd Pressure Control, Thru Tubing Solutions and Patterson Services. It provides a range of oilfield services and equipment primarily to independent and oil and gas companies, which is engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets. Its segments include Technical Services and Support Services. Technical Services segment includes pressure pumping, downhole tools services, coiled tubing, snubbing and other oilfield related services. Support Services segment includes renting tools to its customers for use with onshore and offshore oil and gas well drilling, completion and workover activities. It is also engaged in oilfield cementing services in the Permian and Mid-Continent basins.
RPC, INC. 
