RES FY 2022 Earnings Report — RPC, Inc. Revenue & Financial Results | Market Cap Arena

FY 2022 Earnings

Reported February 27, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$1.6B	—	$865M	—	85.2%
Op. Income	$288M	—	$16M	—	1667.5%
Gross Margin	32.1%	—	23.3%	—	8.8pp
Net Margin	13.6%	—	0.8%	—	12.8pp
EPS (Diluted)	$1.01	—	$0.03	—	2914.9%
Free Cash Flow	$62M	—	-$20M	—	409.8%

Revenue Flow

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$1.1B
GROSS PROFIT	$514M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$149M
Other Expenses	$77M
Operating Expenses	$226M
Cost & Expenses	$1.3B
OPERATING INCOME	$288M
Interest Income	$1M
Interest Expense	$614.0K
Other Income/Expenses	$2M
INCOME BEFORE TAX	$290M
Income Tax Expense	$71M
Net Income from Continuing Ops	$218M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$218M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$215M
D&A	$83M
EBIT	$282M
EBITDA	$365M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$1.1B
GROSS PROFIT	$514M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$149M
Other Expenses	$77M
Operating Expenses	$226M
Cost & Expenses	$1.3B
OPERATING INCOME	$288M
Interest Income	$1M
Interest Expense	$614.0K
Other Income/Expenses	$2M
INCOME BEFORE TAX	$290M
Income Tax Expense	$71M
Net Income from Continuing Ops	$218M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$218M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$215M
D&A	$83M
EBIT	$282M
EBITDA	$365M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$218M
Depreciation & Amortization	$83M
Stock-Based Compensation	$6M
Deferred Income Tax	$19M
Other Non-Cash Items	-$5M
Change in Working Capital	-$121M
OPERATING CASH FLOW	$201M
Capital Expenditure	-$140M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$16M
NET CASH FROM INVESTING	-$124M
Net Debt Issuance	-$24M
Common Stock Repurchased	-$918.0K
Common Dividends Paid	-$9M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$34M
FREE CASH FLOW	$62M
Net Change in Cash	$44M

Balance Sheet

Item	Amount
Cash & Equivalents	$126M
Short-Term Investments	$0
Net Receivables	$459M
Inventory	$97M
Other Current Assets	$3M
TOTAL CURRENT ASSETS	$703M
PP&E (Net)	$362M
Goodwill	$32M
Intangible Assets	$1M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$30M
TOTAL NON-CURRENT ASSETS	$426M
TOTAL ASSETS	$1.1B
Account Payables	$115M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$10M
TOTAL CURRENT LIABILITIES	$179M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$37M
Other Non-Current Liabilities	$36M
TOTAL NON-CURRENT LIABILITIES	$93M
TOTAL LIABILITIES	$271M
Common Stock	$22M
Additional Paid-In Capital	$0
Retained Earnings	$856M
Treasury Stock	$0
Accum. Other Comp. Income	-$20M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$858M
Minority Interest	$0
TOTAL EQUITY	$858M
TOTAL LIABILITIES & EQUITY	$1.1B
Total Debt	$30M
Net Debt	-$96M