Reports Q2 revenue $364.15M, consensus $380.39M. “Second quarter results showed a sequential increase in profitability despite a soft environment for pressure pumping, and we are pleased with the resilience of our overall portfolio of services,” stated Ben M. Palmer, RPC’s President and Chief Executive Officer. “We were encouraged with top and bottom-line performance across several areas of our business. Downhole tools delivered a solid quarter and we are optimistic newly launched products will help continue this momentum. Cementing and rental tools showed modest sequential growth, and coiled tubing increased double-digits. In coiled tubing, we are excited about developing opportunities for specialized work leveraging our existing technologies.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RES:
- RPC, Inc. Reports Second Quarter 2024 Financial Results And Declares Regular Quarterly Cash Dividend
- RES Earnings this Week: How Will it Perform?
- RPC, Inc. price target lowered to $7 from $8 at Stifel
- RPC, Inc. price target lowered to $6.50 from $7 at Susquehanna
- Citi cuts RPC, Inc. target, opens ‘negative catalyst watch’