RPC, Inc. Reports Third Quarter 2019 Financial Results
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RPC Inc (RES) Misses Q3 EPS by 8c, Revenues Miss
October 23, 2019 6:46 AM EDTRPC Inc (NYSE: RES) reported Q3 EPS of ($0.08), $0.08 worse than the analyst estimate of $0.00. Revenue for the quarter came in at $293.2 million versus the consensus estimate of $342.99 million.
Management Commentary
"The average U.S. domestic rig count during the third quarter of 2019 was 920, a 12.5 percent decrease compared to the same period in 2018, and a 7.0 percent decrease compared to the second quarter of 2019," stated Richard A. Hubbell, RPC's President and Chief Executive Officer. "The average price of oil during the third quarter was $56.39 per barrel, a 19.1 percent decrease compared to the same... More
