About RPC, Inc.
Fourth Quarter 2025 Highlights
In the fourth quarter of 2025, revenues declined 5% sequentially to $425.8 million. The company reported a net loss of $3.1 million compared to net income of $13.0 million in the prior quarter, with a loss per share of $0.02, as net income margin fell by 360 basis points sequentially to (0.7)%.
Adjusted net income decreased to $9.4 million from $16.8 million in the previous quarter, resulting in adjusted diluted EPS of $0.04 and an adjusted net income margin of 2.2%. Adjusted EBITDA declined to $55.1 million from $67.8 million in the prior quarter, with the margin contracting by 230 basis points sequentially to 12.9%, primarily due to approximately $4.6 million of wireline cable expenses that were expensed rather than capitalized during the quarter.
Full Year 2025 Highlights
For the full year 2025, revenues increased 15% year-on-year to $1.6 billion, mainly driven by the acquisition of Pintail Completions completed on April 1, 2025. Net income fell 65% year-on-year to $32.1 million, with EPS of $0.15, as net income margin declined by 450 basis points to 2.0%. Adjusted net income declined 41% to $53.6 million, translating into adjusted diluted EPS of $0.25 and an adjusted net income margin of 3.3%.
Adjusted EBITDA stood at $232.7 million, broadly flat compared to the prior year, while the adjusted EBITDA margin declined by 220 basis points to 14.3%. Operating cash flow amounted to $201.3 million, free cash flow was $52.9 million and remained unaffected by the change in wireline cable accounting, and during the year the company returned capital to shareholders through $35.1 million in dividends and $2.9 million in share repurchases.
Balance Sheet, Cash Flow and Capital Allocation
Cash and cash equivalents increased to $210.0 million at the end of the fourth quarter, with no outstanding borrowings under the Company’s $100 million revolving credit facility.
Net cash provided by operating activities and Free cash flow were $201.3 million and $52.9 million, respectively, year-to-date through 4Q25.
Payment of dividends totaled $35.1 million year-to-date through 4Q:25. As previously announced, the Board of Directors declared a regular quarterly cash dividend of $0.04 per share, payable on March 10, 2026, to common stockholders of record at the close of business on February 10, 2026. Share repurchases totaled $2.9 million year-to-date through 4Q:25, all of which related to tax withholding for restricted stock vesting.