RPC Inc

rpc.net

What Do They Do?

Provides oilfield services and equipment for independent and major oil and gas producers, performing well completion, production and maintenance work.

How Do They Make Money?

Customers pay agreed job rates for oilfield services; RPC invoices when the specified work is complete and typically collects 30 to 60 days after invoicing.

revenue

Segment	Share	Revenue	How money arrives
Technical Services Sold outright	94% FY2022: 95%		Sold outright
Support Services	5.6% FY2022: 5.3%

Who Are Their Customers?

Major and independent oil and gas producers buy RPC’s well-site and off-site services. RPC generates sales through business-unit sales teams and referrals from existing customers.

Customers above 10% of revenue, FY2025

of revenue from one customer

FY2023: no customer at 10% or more of revenue

Do Revenues Turn Into Profits?

Yes. It kept 2 cents of every revenue dollar as net income in FY2025 and turned 3 cents into free cash flow.

Operating income, FY2025

3% of revenue

▼ −54% vs FY2024 ($97.5M, 7%)

Net income, FY2025

2% of revenue

▼ −65% vs FY2024 ($91.4M, 6%)

Free cash flow, FY2025

3% of revenue

▼ −59% vs FY2024 ($129.5M, 9%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +10%; vs $420.8M in Q2 FY2025
Net income: ▲ +19%; vs $10.1M in Q2 FY2025

Technical Services share of revenue vs 94.3% in Q2 FY2025

Jun 23, 2026 CEO Ben M. Palmer plans to retire He will leave when a successor is named or by December 31, 2026, then serve in an advisory role.

Growing. Revenue grew 88% in 4 years, from $864.9M in FY2021 to $1.6B in FY2025, about 17% a year.

Pintail acquisition RPC added Pintail Completions to its service-company group through an acquisition, adding a wireline provider to its operations.

Revenue over time

Technical Services Support Services

$2B$1B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Halliburton, Baker Hughes, Schlumberger, Liberty Energy, NCS Multistage Holdings, Nine Energy Services, Patterson-UTI Energy, ProFrac Holding, and ProPetro Holding

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