RPC Revenue Rises 1% to $467.7 Million in Third Quarter of 2026
Key Facts
RPC reported a 1% sequential increase in revenue to $467.7 million in the third quarter ended September 30, 2026, according to its results statement issued on October 29 before the market opened. The company said adjusted net income was $22.8 million, adjusted diluted earnings per share were $0.10, and adjusted EBITDA reached $71.5 million. The figures show the performance of an oilfield services company in a quarter when the average number of U.S. drilling rigs rose, despite a decline in the average oil price from the previous quarter. RPC had announced that the results and review call would take place the same day at 9:00 a.m. Eastern time. It also announced a new quarterly cash dividend of $0.04 per share.
Year over year, revenue rose to $467.735 million from $447.103 million in the third quarter of 2025, according to RPC's statement. In the same comparison, the company reported net income of $12.963 million in the prior year, while results for the current quarter showed adjusted net income of $22.8 million. Second-quarter figures show revenue of $460.9 million, up 1% from the first quarter, followed by a similar sequential increase in the third quarter. Net income in the second quarter was $12.1 million, and diluted earnings per share under accounting standards were $0.05. Adjusted net income for that quarter was $17.8 million, and adjusted diluted earnings per share were $0.08.
Second-quarter revenue rose 9.5% from the same period a year earlier, according to RPC's filing with the U.S. Securities and Exchange Commission. The company then attributed the increase mainly to growing activity in pressure pumping, downhole tools and coiled tubing. This was partly offset by lower activity in wireline services. The comparison provides context on the service lines that contributed to revenue growth in the prior period, but does not specify each line's contribution to third-quarter results. The third-quarter data cited here did not include a numerical breakdown of the company's segment revenue or the drivers of changes within them.
Among the industry indicators cited by RPC, the average number of U.S. drilling rigs rose to 589 in the third quarter from 554 in the second quarter. By contrast, the average oil price fell to $86.07 a barrel from $96.54. These figures put the company's sequential revenue growth in the context of an increase in rig counts and a decline in the average price during the same period. Chief Executive Ben Palmer said drilling and completion activity improved during the year, lifting customer activity levels across several service lines. He added that current oil prices support a "more favorable operating environment," but inflationary pressures across multiple expense categories, particularly labor, transportation and fuel, continued to weigh on costs.
The $0.04-per-share cash dividend is payable on December 10, 2026, to shareholders of record at the close of business on November 10. The second-quarter dividend was the same amount, with payment on September 10 to shareholders of record at the close of business on August 10. These dates set out the next step for shareholders following the results announcement. The third-quarter statement did not include a date for a subsequent results review meeting in the information available here, as the scheduled call was held at 9:00 a.m. Eastern time on October 29.