Rpc reports 1Q 2026 revenue $454.8M, adjusted EBITDA $53.5M; adjusted diluted EPS $0.03

Rpc reported first-quarter 2026 results with revenues of $454.8 million and adjusted EBITDA of $53.5 million. Net income was $0.9 million (diluted EPS $0.00) while adjusted diluted EPS was $0.03. The company noted sequential revenue growth driven by Technical Services despite weather impacts and higher working capital use.Financial HighlightsRevenues: $454.8 million for the three months ended March 31, 2026 (up 7% sequentially).Operating income: $2.6 million for 1Q:26 (total operating income reported).Net income: $0.9 million, diluted EPS $0.00 for 1Q:26.Adjusted diluted EPS: $0.03 and adjusted net income: $7.6 million for 1Q:26.Adjusted EBITDA: $53.5 million; adjusted EBITDA margin: 11.8% for 1Q:26.Business HighlightsTechnical Services revenue increase: Technical Services revenues rose 7% sequentially to $434.3 million, with broad-based gains across service lines.Service-line drivers: Pressure pumping (Cudd Energy Services) rose ~20% sequentially; nitrogen services (Cudd Pressure Control) increased ~13%; Thru Tubing Solutions' downhole tools grew ~11% due to higher activity and new technologies.Support Services: Revenues were essentially flat sequentially at $20.5 million, with Rental Tools noted as typically seasonal in the first quarter.Operational impacts: Winter storms disrupted early-year activity across multiple basins; management reported increased bidding activity and some operators maintaining activity amid commodity price volatility.Capital and cash flow: Cash and equivalents ended the quarter at $200.7 million; free cash flow was $(0.9) million year-to-date through 1Q:26, with working capital use driven by higher accounts receivable.Original SEC Filing: RPC INC [ RES ] - 8-K - May. 07, 2026DisclaimerThis is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.