Stock Monitor: CARBO Ceramics Post Earnings Reporting

LONDON, UK / ACCESSWIRE / January 30, 2018 / Active-Investors.com has just released a free earnings report on RPC, Inc. (NYSE: RES). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=RES. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on January 24, 2018. The oil and gas services Company posted a quarterly profit compared to a loss in the year ago same period. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for CARBO Ceramics Inc. (NYSE: CRR), which also belongs to the Basic Materials sector as the Company RPC, Inc. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=CRR

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, RPC most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=RES

Earnings Highlights and Summary

For the quarter ended December 31, 2017, RPC's revenues soared 93.4% to $427.3 million compared to $221.0 million in Q4 2016, driven by higher activity levels and improved pricing for the Company's services, higher service intensity, and activation of previously idled revenue-producing equipment. RPC's revenue numbers lagged analysts' estimates of $522.6 million.

For the twelve months ended December 31, 2017, RPC's revenues soared 118.8% to $1.6 billion compared to $729.0 million in FY16.

RPC's cost of revenues were $285.7 million, or 66.9% of revenues, during Q4 2017 compared to $173.0 million, or 78.3% of revenues, during Q4 2016. As a percentage of revenues, the Company's cost of revenues decreased due to leverage of higher revenues over direct employment costs, and improved pricing for its services.

For Q4 2017, RPC's selling, general, and administrative expenses (SG&A) totaled $42.0 million compared to $35.8 million in Q4 2016. The increase in expenses was attributed to higher compensation costs, primarily incentive compensation, as well as other expenses consistent with higher activity levels and improved profitability. As a percentage of revenues, these costs decreased to 9.8% in the reported quarter versus 16.2% in the year ago comparable period, due to the leverage of higher revenues over primarily fixed expenses.

RPC's operating income came in at $60.3 million in Q4 2017 compared to an operating loss of $32.2 million in Q4 2016. The Company's earnings before interest, tax, depreciation, and amortization (EBITDA) was $101.1 million for the reported quarter compared to $15.7 million in the prior year's corresponding quarter.

For Q4 2017, RPC reported a net income of $57.7 million, or $0.27 diluted earnings per share, compared to net loss of $21.11 million, or $0.10 loss per diluted share, for Q4 2016. For the reported quarter, the Company recorded a net discrete tax benefit of $19.3 million as a component of tax expense as a result of the ?Tax Cuts and Jobs Act' (Tax Reform). Excluding the impact of Tax Reform, RPC's net income was $38.4 million, or $0.18 diluted earnings per share, for Q4 2017. The Company's earnings fell short of Wall Street's expectations of $0.33 per share.

RPC's net income was $162.5 million, or $0.75 per diluted share, for FY17. The Company's net income, excluding the impact of Tax Reform, was $143.2 million, or $0.66 diluted earnings per share, compared to a net loss of $141.2 million, or $0.66 loss per share, in FY16.

Segment Operating Performance

During Q4 2017, RPC's Technical Services segment's revenues surged 96.0% to $410.97 million, aided by improved pricing, higher activity levels, and a larger active fleet of revenue-producing equipment compared to the prior year, particularly within the pressure pumping service line, which is the largest service line within the Technical Services segment. The segment reported an operating profit of $67.02 million compared to an operating loss of $26.22 million in the prior year's same quarter.

For Q4 2017, RPC's Support Services segment's revenues advanced 43.7% to $16.33 million on a y-o-y basis, primarily driven by improved activity levels and pricing in the rental tool service line, which is the largest service line within this segment. The segment's operating loss narrowed to $1.61 million in the reported quarter versus an operating loss of $6.68 million in the year earlier comparable quarter.

Dividend Increase

On January 24, 2018, RPC announced that its Board of Directors declared a 43% increase to the regular quarterly cash dividend, from $0.07 per share to $0.10 per share, payable on March 09, 2018, to common stockholders of record at the close of business as on February 09, 2018.

Stock Performance Snapshot

January 29, 2018 - At Monday's closing bell, RPC's stock declined 2.46%, ending the trading session at $20.25.

Volume traded for the day: 3.24 million shares, which was above the 3-month average volume of 1.42 million shares.

After yesterday's close, RPC's market cap was at $4.51 billion.

Price to Earnings (P/E) ratio was at 148.90.

The stock has a dividend yield of 1.98%.

The stock is part of the Basic Materials sector, categorized under the Oil & Gas Equipment & Services industry.

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