RPC, Inc. reported fourth-quarter earnings of $0.04 per share, falling short of the Zacks Consensus Estimate of $0.07 and down from $0.06 in the year-ago quarter. The miss was driven by a net loss of $3.1 million, or $0.02 per share, compared with net income of $13.0 million, or $0.06 per share, in the third quarter. Net income margin declined by 360 basis points sequentially to -0.7%. While adjusted net income totaled $9.4 million, or $0.04 per share, that marked a 44% sequential decline from $16.8 million, and adjusted net income margin narrowed to 2.2%. The quarter’s adjusted EBITDA of $55.1 million was down 19% quarter-over-quarter, with an adjusted EBITDA margin of 12.9%, reflecting approximately $4.6 million in newly expensed wireline cable costs previously capitalized.

For the full year, RPC generated revenues of $1.63 billion, up 15% from 2024, benefiting from the April 1 Pintail Completions acquisition. Net income of $32.1 million, or $0.15 per share, declined 65% year-over-year, with net margin contracting by 450 basis points to 2.0%. Adjusted net income of $53.6 million, or $0.25 per share, was down 41%, with adjusted margin at 3.3%. Adjusted EBITDA held steady at $232.7 million but margin eased 220 basis points to 14.3%. Operating cash flow reached $201.3 million, and free cash flow was $52.9 million. The company returned $35.1 million in dividends and repurchased $2.9 million of stock. On the operational front, Technical Services revenues fell 4% sequentially to $405.2 million, with downhole tool and pumping activity weakening in key regions, while Support Services revenues slipped 18% to $20.5 million, driven by lower rental tool utilization in December.