RPC | 10-Q: FY2025 Q3 Revenue Beats Estimate at USD 447.1 M

Revenue: As of FY2025 Q3, the actual value is USD 447.1 M, beating the estimate of USD 402.69 M.

EPS: As of FY2025 Q3, the actual value is USD 0.06.

EBIT: As of FY2025 Q3, the actual value is USD 20 M.

Technical Services Segment

Operational Metrics

• Operating Income: $23.6 million for Q3 2025, $59.6 million for the nine months ended September 30, 2025.
• Employment Costs: $102.1 million for Q3 2025, $277.0 million for the nine months ended September 30, 2025.
• Materials and Supplies: $113.1 million for Q3 2025, $298.6 million for the nine months ended September 30, 2025.
• Maintenance & Repairs: $60.0 million for Q3 2025, $155.5 million for the nine months ended September 30, 2025.
• Fleet and Transportation: $14.1 million for Q3 2025, $37.7 million for the nine months ended September 30, 2025.
• Other Cost of Revenues: $33.2 million for Q3 2025, $93.5 million for the nine months ended September 30, 2025.

Support Services Segment

Operational Metrics

• Operating Income: $5.4 million for Q3 2025, $11.9 million for the nine months ended September 30, 2025.
• Employment Costs: $5.7 million for Q3 2025, $16.3 million for the nine months ended September 30, 2025.
• Materials and Supplies: $984 thousand for Q3 2025, $2.8 million for the nine months ended September 30, 2025.
• Maintenance & Repairs: $3.4 million for Q3 2025, $9.0 million for the nine months ended September 30, 2025.
• Fleet and Transportation: $793 thousand for Q3 2025, $2.3 million for the nine months ended September 30, 2025.
• Other Cost of Revenues: $1.2 million for Q3 2025, $3.6 million for the nine months ended September 30, 2025.

Corporate and Consolidated Metrics

Cash Flow

• Net Cash Provided by Operating Activities: $139.5 million for the nine months ended September 30, 2025.
• Free Cash Flow: $21.7 million for the nine months ended September 30, 2025.

Other Metrics

• Acquisition Related Employment Costs: $6.5 million for Q3 2025, $13.0 million for the nine months ended September 30, 2025.
• Depreciation and Amortization: $44.1 million for Q3 2025, $122.1 million for the nine months ended September 30, 2025.
• Gain on Disposition of Assets: $3.6 million for Q3 2025, $7.3 million for the nine months ended September 30, 2025.
• Interest Expense: $949 thousand for Q3 2025, $2.1 million for the nine months ended September 30, 2025.
• Interest Income: $1.7 million for Q3 2025, $6.8 million for the nine months ended September 30, 2025.
• Income Tax Provision: $9.6 million for Q3 2025, $21.3 million for the nine months ended September 30, 2025.
• Net Income: $13.0 million for Q3 2025, $35.1 million for the nine months ended September 30, 2025.
• Adjusted EBITDA: $72.3 million for Q3 2025, $186.8 million for the nine months ended September 30, 2025.
• Adjusted EBITDA Margin: 16.2% for Q3 2025, 15.6% for the nine months ended September 30, 2025.

Future Outlook and Strategy

Core Business Focus

• Capital Expenditures: Expected to be between $170 million and $190 million in 2025, mostly related to maintenance.
• ERP Implementation: Costs associated with ERP implementation to be incurred over the next few years.

Non-Core Business

• Stock Buyback Program: Up to 49,578,125 shares in the open market, with 12,768,870 shares remaining available for repurchase as of September 30, 2025.
• SERP Termination: Participant balances to be distributed in the fourth quarter of 2025 by liquidating assets currently held in the Rabbi Trust.

Priority

• Interest Payments on Seller Note: First principal payment of $20 million payable within the next 12 months, remainder of $30 million payable over two years after the first repayment.
• Cash Dividends: Regular quarterly cash dividend of $0.04 per share payable December 10, 2025.