Overview

• U.S. oilfield services firm's Q1 revenue rose and beat analyst expectations

• Adjusted EPS for Q1 met analyst expectations; adjusted net income beat estimates

• Company saw modest revenue growth despite weather impacts; Technical Services segment led gains

Outlook

• Company sees increased bidding activity and some operators maintaining activity levels

• RPC says industry concerns about commodity price volatility are limiting spending plan changes

• Company plans to be measured in capital allocation and invest strategically

Result Drivers

• TECHNICAL SERVICES GROWTH - Revenue gains were led by Technical Services, with pressure pumping, nitrogen, and downhole tools seeing double-digit percentage increases

• WEATHER IMPACTS - Early quarter activity was disrupted by winter storms, affecting operations across multiple basins

• COST INCREASES - Higher costs for materials, supplies, and fuel impacted cost of revenues as activity and job mix shifted

Company press release: ID:nPn1F9d0Ha

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Beat	$454.76 mln	$407.23 mln (3 Analysts)
Q1 Adjusted EPS	Meet	$0.03	$0.03 (4 Analysts)
Q1 Adjusted Net Income	Beat	$7.60 mln	$5.47 mln (3 Analysts)
Q1 Net Income		$855,000

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

• Wall Street's median 12-month price target for RPC Inc is $6.20, about 16% below its May 6 closing price of $7.38

• The stock recently traded at 33 times the next 12-month earnings vs. a P/E of 22 three months ago

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