RPC, Inc. (NYSE: RES) reported a fourth‑quarter net loss of $3.1 million, translating to a GAAP diluted earnings per share of –$0.02. Total revenue for the quarter was $425.8 million, a 5% sequential decline from the $447.5 million reported in Q3 2025. The company’s operating loss for the quarter was $3.99 million, largely driven by higher wire‑line cable expenses and acquisition‑related employment costs associated with the Pintail acquisition.
For the full year, RPC posted a net income of $32.1 million, or $0.15 per share, and an adjusted net income of $53.6 million, or $0.25 per share. Full‑year revenue rose 15% to $1.63 billion, a growth largely attributable to the Pintail acquisition, which added $200 million in revenue and $30 million in EBITDA to the 2025 top line.
Segment analysis shows that Technical Services accounted for 95% of Q4 revenue, declining 4% sequentially to $404.5 million, while Support Services represented 5% of revenue, falling 18% sequentially to $21.3 million. The company’s change in accounting for wire‑line cables—expensing rather than capitalizing—reduced EBITDA by approximately $4.6 million in Q4, contributing to the operating loss. Integration of Pintail has increased employment costs but also expanded RPC’s service portfolio and geographic reach.
Management emphasized disciplined cost control and capital allocation amid a challenging oil‑price environment. CEO Ben Palmer noted that 2025 was a “challenging year, with year‑end oil prices reaching their lowest level since COVID,” and highlighted the company’s focus on integrating Pintail while maintaining a strong balance sheet with $210 million in cash and no debt on its revolving credit facility.
The company missed consensus EPS estimates of $0.07, reporting an adjusted diluted EPS of $0.04—a miss of $0.03 or 43%. The miss was driven by the combined impact of the wire‑line cable accounting change, higher acquisition‑related costs, and a weaker support‑services mix. Investors reacted negatively, citing the EPS miss as the primary driver of the market’s adverse response.
RPC guided 2026 capital expenditures to $150 million–$180 million and reiterated its focus on cost discipline and strategic investments in high‑return segments. The guidance signals management’s confidence in maintaining profitability despite short‑term headwinds, while acknowledging the need to invest in integration and future growth opportunities.
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