RPC Q4 EPS misses analyst expectations due to holiday slowdowns, higher wireline costs
Overview
Oilfield services firm's Q4 revenue slightly missed analyst expectations
Adjusted EPS for Q4 missed analyst expectations
Company experienced revenue decline due to holiday slowdowns and increased wireline expenses
Outlook
RPC expects crude oil price volatility due to geopolitical developments
RPC aims to deliver full cycle returns by maintaining cost discipline
Result Drivers
HOLIDAY SLOWDOWNS - Revenue decline attributed to holiday slowdowns affecting customer activity, as stated by CEO Ben M. Palmer
WIRELINE CABLE EXPENSES - Transition to expensing wireline cables negatively impacted adjusted EBITDA by $4.6 million
SEGMENT DECLINES - Technical Services and Support Services segments saw revenue declines due to reduced activity and job shifts
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Slight Miss* | $425.78 mln | $426.46 mln (3 Analysts) |
Q4 Adjusted EPS | Miss | $0.04 | $0.06 (4 Analysts) |
Q4 Adjusted Net Income | Miss | $9.40 mln | $13.06 mln (3 Analysts) |
Q4 Net Income |
| -$3.06 mln |
|
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Press Release: ID:nPn9SRVwXa
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
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