RPC, Inc. filed an earnings release on October 29, 2026, reporting unaudited financial results for the third quarter ended September 30, 2026, including a $74.5 million non-cash impairment charge related to its Pintail wireline business.

Key Highlights

  • Total revenues of $467.7 million in 3Q:26, up 1% sequentially from $460.9 million in 2Q:26, according to the filing.
  • Net loss of $41.9 million and loss per share of $0.20, compared with net income of $12.1 million and diluted EPS of $0.05 in the prior quarter.
  • Non-cash impairment charges of $74.5 million were recorded against Pintail's asset group, of which $58.3 million related to other intangible assets and $16.2 million to property, plant and equipment.
  • Adjusted EBITDA of $71.5 million, up 8% from $66.0 million in 2Q:26, with an Adjusted EBITDA margin of 15.3%.
  • Quarterly cash dividend of $0.04 per share declared, payable December 10, 2026, to stockholders of record as of November 10, 2026.
  • Cash and cash equivalents of $177.1 million at quarter-end, down $32.9 million year-to-date.
  • Year-to-date free cash flow of $5.0 million and net cash provided by operating activities of $115.7 million through 3Q:26.

Pintail Impairment Drives Net Loss in RPC's Third Quarter 2026 Results

RPC, Inc. (NYSE:RES) reported a net loss of $41.9 million for the third quarter ended September 30, 2026, driven by $74.5 million in non-cash impairment charges tied to its Pintail wireline business. According to the filing, "Pintail's persistent pricing weakness, lower activity and cost pressure led management to conclude that the carrying amount of the Pintail asset group was not fully recoverable." Of the total impairment, $58.3 million was attributed to other intangible assets and $16.2 million to property, plant and equipment, all within the Technical Services segment.

Excluding impairment charges and other adjustments, the company reported adjusted net income of $22.8 million and adjusted diluted EPS of $0.10, up from $17.8 million and $0.08 in the prior quarter, respectively. Adjusted net income margin rose to 4.9% from 3.9% in 2Q:26. Adjusted EBITDA improved to $71.5 million from $66.0 million sequentially, with the margin expanding 100 basis points to 15.3%. The income tax benefit was $10.0 million, reflecting an effective benefit rate of 19.2% on a pretax loss of $51.9 million, according to the filing.

On the segment level, Technical Services revenues were $444.2 million, up 1% sequentially, with gains in Coiled Tubing, Nitrogen, and Snubbing partially offset by lower Wireline revenues. Support Services revenues rose 3% to $23.5 million, with operating income up 56% to $3.6 million, driven by higher activity in Rental Tools. The company reported no outstanding borrowings under its $100 million revolving credit facility during the quarter. Year-to-date share repurchases totaled $3.5 million, related to tax withholdings for restricted stock vesting, and year-to-date dividend payments totaled $26.6 million.

What Was Disclosed

RPC, Inc. disclosed its unaudited third-quarter 2026 results, including a $74.5 million non-cash impairment on the Pintail wireline business, a sequential revenue increase to $467.7 million, improved adjusted profitability metrics, and a regular quarterly cash dividend of $0.04 per share.