The strong EPS beat and margin expansion are positive, but the revenue miss and cautious management tone on oil price volatility warrant a watchful stance. Monitor the Q3 outlook for pricing and activity trends, particularly in the Technical Services segment, and any further updates on the CEO transition.
Price Chart
Executive Summary
RPC Inc. reported Q2 2026 adjusted EPS of $0.08, a 100% beat vs the $0.04 consensus, on revenues of $460.9M which slightly missed the $469.8M estimate. Net income improved sharply to $12.1M from $0.9M in the prior quarter, driven by higher activity in Technical Services and a 250bps expansion in Adjusted EBITDA margin to 14.3%. The sequential improvement is notable, but the revenue miss and cautious oil-price commentary temper the bullish read-through for this oilfield services name.
Key Financial Metrics
Key Facts
- Q2 2026 revenues of $460.9M, up 1% sequentially but below $469.8M consensus.
- Adjusted diluted EPS of $0.08 beat the $0.04 consensus estimate by 100%.
- Net income of $12.1M vs $0.9M in Q1 2026; net income margin improved 240bps to 2.6%.
- Adjusted EBITDA of $66.0M, up 23.3% sequentially; margin expanded 250bps to 14.3%.
- Technical Services revenue up 1% sequentially; Support Services up 11% driven by a 21% increase in Rental Tools.
- Board declared a regular quarterly cash dividend of $0.04 per share.
- Year-to-date free cash flow of $3.8M; $20M principal payment made on Pintail acquisition note.
- Average US rig count was essentially flat sequentially at 554; average oil price surged 36.9% to $96.54/bbl.
Financial Impact
EPS beat of 100% on a $0.04 consensus; revenue miss of ~1.9% vs consensus.
Risk Factors
- Revenue miss vs consensus despite a strong sequential improvement.
- CEO retirement introduces leadership transition uncertainty.
- Oil price volatility could dampen customer activity and pricing visibility.
- Working capital was a significant cash use in the quarter due to higher receivables.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-088439 |
| Document: 0001104659-26-088439-index.html | 0001104659-26-088439 |
| Document: 0001104659-26-088439.txt | 0001104659-26-088439 |
| 8-K Data (Synthetic) | 0001104659-26-088439 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 30, 2026 12w ago | 8-K | $5.42 $6.25 | ▲ +15.31% | ▲ +12.85% | $6.25 (+15.31%) |
Jul 30, 2026 12w ago | Press Release | $5.42 $6.25 | ▲ +15.31% | ▲ +12.85% | $6.25 (+15.31%) |
Jun 23, 2026 17w ago | 8-K | $5.72 $5.93 | ▲ +3.67% | ▲ +0.83% | $6.25 (+9.27%) |
Jun 11, 2026 19w ago | Institutional Cluster | $7.07 $6.50 | ▼ −8.06% | ▼ −12.46% | $6.25 (−11.60%) |
May 7, 2026 24w ago | 8-K | $7.09 $5.76 | ▲ +18.74% | ▲ +22.57% | $6.25 (+11.82%) |
Apr 28, 2026 25w ago | 8-K | $7.86 $5.61 | ▼ −28.66% | ▼ −32.77% | $6.25 (−20.52%) |
Apr 13, 2026 28w ago | DEFA14A | $6.72 $5.63 | ▼ −16.22% | ▼ −25.15% | $6.25 (−7.00%) |
Mar 18, 2026 31w ago | DEFA14A | $6.96 $7.07 | ▲ +1.60% | ▼ −9.93% | $6.25 (−10.19%) |
US Market Status
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