RES FY 2023 Earnings Report — RPC, Inc. Revenue & Financial Results | Market Cap Arena

FY 2023 Earnings

Reported January 25, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.6B	—	$1.6B	—	1.0%
Op. Income	$245M	—	$288M	—	-14.9%
Gross Margin	32.6%	—	32.1%	—	0.6pp
Net Margin	12.1%	—	13.6%	—	-1.6pp
EPS (Diluted)	$0.90	—	$1.01	—	-10.9%
Free Cash Flow	$214M	—	$62M	—	246.3%

Revenue Flow

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$1.1B
GROSS PROFIT	$528M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$166M
Other Expenses	$117M
Operating Expenses	$283M
Cost & Expenses	$1.4B
OPERATING INCOME	$245M
Interest Income	$9M
Interest Expense	$341.0K
Other Income/Expenses	$11M
INCOME BEFORE TAX	$256M
Income Tax Expense	$61M
Net Income from Continuing Ops	$195M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$195M
Net Income Deductions	$3M
BOTTOM LINE NET INCOME	$192M
D&A	$108M
EBIT	$254M
EBITDA	$362M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$1.1B
GROSS PROFIT	$528M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$166M
Other Expenses	$117M
Operating Expenses	$283M
Cost & Expenses	$1.4B
OPERATING INCOME	$245M
Interest Income	$9M
Interest Expense	$341.0K
Other Income/Expenses	$11M
INCOME BEFORE TAX	$256M
Income Tax Expense	$61M
Net Income from Continuing Ops	$195M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$195M
Net Income Deductions	$3M
BOTTOM LINE NET INCOME	$192M
D&A	$108M
EBIT	$254M
EBITDA	$362M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$195M
Depreciation & Amortization	$108M
Stock-Based Compensation	$8M
Deferred Income Tax	$9M
Other Non-Cash Items	$9M
Change in Working Capital	$66M
OPERATING CASH FLOW	$395M
Capital Expenditure	-$181M
Acquisitions (Net)	-$79M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$18M
NET CASH FROM INVESTING	-$242M
Net Debt Issuance	-$515.0K
Common Stock Repurchased	-$21M
Common Dividends Paid	-$35M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$56M
FREE CASH FLOW	$214M
Net Change in Cash	$97M

Balance Sheet

Item	Amount
Cash & Equivalents	$223M
Short-Term Investments	$0
Net Receivables	$377M
Inventory	$111M
Other Current Assets	$3M
TOTAL CURRENT ASSETS	$727M
PP&E (Net)	$461M
Goodwill	$51M
Intangible Assets	$13M
Long-Term Investments	$0
Tax Assets	$28M
Other Non-Current Assets	$35M
TOTAL NON-CURRENT ASSETS	$587M
TOTAL ASSETS	$1.3B
Account Payables	$85M
Short-Term Debt	$8M
Deferred Revenue	$16M
Other Current Liabilities	$12M
TOTAL CURRENT LIABILITIES	$152M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$79M
Other Non-Current Liabilities	$42M
TOTAL NON-CURRENT LIABILITIES	$140M
TOTAL LIABILITIES	$292M
Common Stock	$22M
Additional Paid-In Capital	$0
Retained Earnings	$1.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.0B
Minority Interest	$0
TOTAL EQUITY	$1.0B
TOTAL LIABILITIES & EQUITY	$1.3B
Total Debt	$27M
Net Debt	-$196M