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Earnings Call Summary | RPC Inc(RES.US) Q1 2024 Earnings Conference

rpcの2024年Q1の決算説明会要旨

moomoo AI ·  04/26 06:22  · 電話会議

The following is a summary of the RPC, Inc. (RES) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • RPC, Inc.'s Q1 2024 revenues decreased by 4% to $378 million.

  • Technical Services and Support Services revenues decreased by 4% and 9% respectively.

  • Adjusted EBITDA was $63.1 million, down from $79.5 million.

  • Operating cash flow was $56.6 million and after CapEx of $52.8 million, free cash flow was $3.8 million. The company maintains its CapEx guidance range of $200 million to $250 million for 2024.

  • The company repurchased approximately $10 million of shares and paid $8.6 million in dividends, returning more than $16 million of capital to shareholders.

  • RPC maintains a debt-free balance sheet with a cash position of $212 million at quarter-end.

Business Progress:

  • Activity level and pressure pumping was down modestly compared to the fourth quarter of 2023.

  • RPC's total revenues declined about 4% with pressure pumping down 5% and other service lines in aggregate down 3%.

  • The company looks to bring new Tier 4 dual fuel fleet into service by mid-year.

  • RPC Inc. continues to explore acquisition targets to increase scale and bolster service lines, and plans to continue investing in fleet upgrades.

  • The company plans for strategic investments throughout the year to enhance business performance and is cautiously observing electric technology market before making any significant commitments.

More details: RPC Inc IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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