Rpc Stock Earnings Reports

RPC reported Q1 2026 revenue of $455 million, up 7% sequentially, driven by broad-based strength across most service lines despite winter storms. Technical Services (95% of revenue) rose 7%; key service-line mix: pressure pumping 31%, downhole tools 23.3%, wireline 22.7%, coiled tubing 8.5%. Adjusted EBITDA was $53.5 million (margin 11.8%), and adjusted diluted EPS was $0.03; adjusted EBITDA and margin declined modestly due to higher materials, fuel and lower other income. Operating cash flow was $31 million YTD, CapEx $32 million, and free cash flow was negative $1 million (working capital increases impacted cash). Balance sheet: ~$201 million cash, $50 million seller-financed note, no borrowings on a $100 million revolver. 2026 CapEx guidance raised to $160–$180 million (low end increased for opportunistic asset purchases). Dividend maintained at $0.04 per share. Operational highlights: Thru Tubing Solutions (downhole tools) saw an 11% sequential revenue increase and accelerating adoption of the new Metal Max power section (currently ~15% of power section utilization), on-plug technology gaining traction, and surface vibratory tech showing success in longer laterals. Cudd Pressure Control had mixed results (snubbing and nitrogen up, coiled tubing down 7%). Pressure pumping revenues rose 20% sequentially on job mix, but management has no plans to reactivate stacked fleets at current pricing. Management is "cautiously optimistic" given firmer commodity prices but notes operator caution about price sustainability; focus remains on cash flow, full-cycle returns and disciplined capital allocation.