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Get filing alertsRPC reports Q1 2026 revenues up 7% to $454.8M, returns to profitability with $0.9M net income
Filed May 7, 2026 · Period ending May 7, 2026 · ~1 min read
Key Changes
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Q1 revenues rose 7% sequentially to $454.8M despite early-quarter weather disruptions; net income turned positive at $0.9M vs. $3.1M loss in Q4 2025, though adjusted EBITDA declined to $53.5M (11.8% margin) from $55.1M prior quarter.
Exhibit 99.1 view on EDGAR → -
high
Technical Services segment grew 7% to $434.3M with pressure pumping up 20%, nitrogen services up 13%, and downhole tools up 11% on new technology adoption; segment operating income jumped 89% to $16.0M.
Exhibit 99.1 view on EDGAR → -
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Geopolitical events drove oil prices 18% higher to $70.54/barrel average, generating increased bidding activity, but price volatility concerns are limiting operator spending increases; management taking measured approach focused on capital returns.
Exhibit 99.1 view on EDGAR → -
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Board declared regular quarterly dividend of $0.04/share payable June 10, 2026 to shareholders of record May 11, 2026; year-to-date dividend payments totaled $8.9M.
Exhibit 99.1 view on EDGAR → -
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Cash position at $200.7M with zero debt on $100M credit facility; free cash flow negative $0.9M after $32.1M capex as working capital consumed cash from higher receivables tied to revenue growth.
Exhibit 99.1 view on EDGAR →
Summary
RPC returned to profitability in Q1 2026 with net income of $0.9 million after a $3.1 million loss the prior quarter, while revenues grew 7% sequentially to $454.8 million despite weather disruptions early in the year. The Technical Services segment drove growth with pressure pumping up 20%, nitrogen services up 13%, and downhole tools up 11% on new technology adoption.
However, adjusted EBITDA declined slightly to $53.5 million with margins compressing 110 basis points to 11.8%, and free cash flow turned negative at $0.9 million as working capital absorbed cash from higher receivables. The quarter saw oil prices rise 18% to an average $70.54/barrel following geopolitical events, generating increased bidding activity and some operators maintaining rather than cutting activity.
Management noted industry concerns about price volatility are preventing significant spending increases, leading the company to take a measured approach focused on returns on capital. RPC maintains a strong balance sheet with $200.7 million in cash and no debt, while continuing its regular quarterly dividend of $0.04 per share. For retail holders, the return to profitability and revenue growth are positive, though margin compression and negative free cash flow warrant monitoring as the company navigates an uncertain commodity price environment.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
RPC disclosed Q1 2026 financial results via press release on May 7, 2026.
Added in current filing · verify on EDGAR →
On May 7, 2026, RPC, Inc. issued a press release titled “RPC, Inc. Reports First Quarter 2026 Financial Results,” announcing the financial results for the first quarter ended March 31, 2026.
RPC announced its first quarter 2026 financial results through a press release on May 7, 2026.Investors should refer to the press release for revenue, earnings, and operational details.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Revenues increased 7% sequentially to $454.8 million
●Net income was $0.9 million, compared to net loss of $3.1 million in the prior quarter, and diluted Earnings Per Share (EPS) was $0.00; Net income margin increased 90 basis points sequentially to 0.2%
●Adjusted net income was $7.6 million, compared to $9.4 million in the prior quarter, and adjusted diluted EPS was $0.03; Adjusted net income margin was 1.7%. ... ●Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) was $53.5 million, compared to $55.1 million in the prior quarter; Adjusted EBITDA margin decreased 110 basis points sequentially to 11.8%.
RPC reported first quarter 2026 revenues of $454.8 million, up 7% from the prior quarter despite weather disruptions early in the year. Net income turned positive at $0.9 million versus a $3.1 million loss in Q4 2025, though adjusted net income declined to $7.6 million from $9.4 million. Adjusted EBITDA was $53.5 million with an 11.8% margin, down 110 basis points sequentially.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 25, 2026 · How we verify