RPC, Inc. reports Q2 adjusted EPS 8c, consensus 9c

Reports Q2 revenue $420.81M, consensus $417.5M. “Downhole tools, coiled tubing, and rental tools all generated sequential revenue increases during the quarter. Wireline revenues benefited from the incorporation of our acquisition of Pintail effective April 1st. Pintail brings significant scale, a blue chip customer base and builds on RPC’s diversified portfolio of companies.” stated Ben Palmer, RPC’s president and CEO. “The second quarter results were negatively impacted by our pressure pumping service line as we experienced weaker activity and pricing pressure along with impacts from weather, external non-productive time and customer startup delays during the quarter.”