RPC, Inc. Reports 32.4% Revenue Growth in Q3 2025, Net Income Declines

RPC, Inc. reported a significant increase in financial performance for the third quarter of 2025, with revenues reaching $447.1 million, a 32.4% increase from $337.7 million in the same period last year. The company's net income for the quarter was $13.0 million, or $0.06 per diluted share, compared to $18.8 million, or $0.09 per diluted share, in the prior year. The increase in revenue was primarily driven by contributions from the recently acquired Pintail Alternative Energy, which generated $99.8 million in revenue during the quarter. However, net income decreased due to higher costs associated with the acquisition and increased operational expenses.

For the nine months ending September 30, 2025, RPC's total revenues were $1.2 billion, an 11.2% increase from $1.08 billion in the same period of 2024. The company reported a net income of $35.1 million, down from $78.7 million in the previous year, reflecting a diluted earnings per share of $0.16 compared to $0.37. The decline in profitability was attributed to increased costs related to the Pintail acquisition, as well as a competitive pressure on pricing in the pressure pumping market, which remains oversupplied.

Strategically, RPC completed the acquisition of Pintail Alternative Energy on April 1, 2025, for a total consideration of $181.4 million, which included $170 million in cash, $25 million in common stock, and a $50 million secured note. This acquisition is expected to enhance RPC's service offerings in the Permian Basin, a key area for oil production in the U.S. The integration of Pintail is ongoing, and the company anticipates realizing synergies from this acquisition over time.

Operationally, RPC's total assets increased to $1.5 billion as of September 30, 2025, up from $1.4 billion at the end of 2024. The company reported a total employee headcount of 2,500, reflecting a slight increase due to the acquisition. The company also noted a decrease in cash and cash equivalents to $163.5 million, down from $326 million at the end of 2024, primarily due to cash used for the Pintail acquisition and capital expenditures.

Looking ahead, RPC remains cautious about market conditions, particularly the volatility in oil prices, which could impact customer drilling activity. The company plans to continue monitoring the competitive landscape and is committed to maintaining its operational efficiency. RPC expects capital expenditures for 2025 to be between $170 million and $190 million, primarily focused on maintenance and technology upgrades. The company also declared a quarterly cash dividend of $0.04 per share, reflecting its commitment to returning value to shareholders while navigating the current market challenges.