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RPC, Inc. Reports Financial Results for Q4 and Full Year 2025

RPC, Inc., a leader in the diversified oilfield services sector, has revealed its financial outcomes for the fourth quarter and full year ending December 31, 2025. Despite a notable increase in overall revenue for the year, the company faced a challenging fourth quarter, marked by a sequential decline in earnings and revenues.

Fourth Quarter Highlights

In the fourth quarter, RPC reported revenues of $425.8 million, down 5% from the previous quarter. The company recorded a net loss of $3.1 million, contrasting sharply with a net income of $13.0 million in Q3 2025, resulting in a loss per share of $0.02. The adjusted net income was reported at $9.4 million, a 44% dip from $16.8 million in the prior quarter, translating into an adjusted diluted earnings per share (EPS) of $0.04. Furthermore, the adjusted EBITDA decreased to $55.1 million from $67.8 million in the previous quarter, showing a margin drop to 12.9%. This decline was heavily influenced by wireline cable expenses, which amounted to approximately $4.6 million during the quarter, representing a significant shift in the accounting treatment of these costs.

Full Year Highlights

On a yearly scale, RPC experienced a 15% revenue increase compared to the previous year, totaling $1.6 billion, thanks to the acquisition of Pintail Completions in April 2025. However, net income for the year plummeted by 65% to $32.1 million, translating into an EPS of $0.15, as margins shrank from 2.0% in the previous year. Adjusted net income also fell by 41%, amounting to $53.6 million, with an adjusted EPS of $0.25.

The company emphasized that net cash from operating activities stood at $201.3 million for the year, with free cash flow reaching $52.9 million. These figures underline RPC’s liquidity strength, as it also disbursed a total of $35.1 million in dividends in 2025 and repurchased $2.9 million of its common stock.

Management Insights

Ben M. Palmer, President and Chief Executive Officer of RPC, commented on the results, noting the holiday-season slowdown impacted revenues, particularly in late December when customers reduced activity levels. He added that the macroeconomic environment remained volatile, citing fluctuations in crude oil prices due to geopolitical factors. Despite facing challenges, the management's strategic focus for 2026 will emphasize effective execution and capital deployment to ensure long-term growth and stability.

Industry Figures

According to data from Baker Hughes and the U.S. Energy Information Administration, the average U.S. rig count in Q4 2025 was recorded at 548, marking a slight increase from 540 in Q3, though down 6.5% from 586 in Q4 2024. Crude oil prices averaged $59.79 per barrel during the fourth quarter, indicating a 15.3% decrease year-over-year. Natural gas prices, conversely, appreciated to $3.69 per Mcf, a substantial increase of 51.9% compared to the previous year.

RPC's diverse capabilities in oilfield services span various segments and include pressure pumping, downhole tools, and equipment services, catering primarily to independent and major oil firms nationwide and internationally. The coming periods will be crucial as RPC navigates through the complexities of the industry, including fluctuating demand and the management of operating costs.