RPC, Inc. Reports Earnings Results for the Full Year Ended December 31, 2022
January 25, 2023 at 06:46 am EST
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RPC, Inc. reported earnings results for the full year ended December 31, 2022. For the full year, the company reported sales was USD 1,601.76 million compared to USD 864.93 million a year ago. Net income was USD 218.36 million compared to USD 7.22 million a year ago.
Basic earnings per share from continuing operations was USD 1.01 compared to USD 0.03 a year ago. Diluted earnings per share from continuing operations was USD 1.01 compared to USD 0.03 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. 