Key Points – RPC’s first-quarter 2026 revenue rose 7% sequentially to $455 million as activity improved across most service lines, but profitability softened due to job mix, fuel costs and working-capital pressure.
Adjusted EBITDA slipped to $53.5 million and adjusted EPS was $0.03. – Downhole tools were a key growth driver, with Thru Tubing Solutions’ revenue up 11% sequentially
Management said adoption of MetalMax and UnPlug technologies is accelerating, benefiting from longer laterals and more complex completion needs. – The company remains financially flexible but is only cautiously optimistic on pricing. RPC ended the quarter with about $201 million in cash and no revolver borrowings, while raising 2026 capex guidance to $160 million-$180 million; however, management said spot pricing firming is limited and not yet broad-based. RPC (NYSE:RES) reported higher first-quarter 2026 revenue as activity improved across most service lines despite winter storms early in the period, while profitability was pressured by job mix, fuel costs and working capital needs.
President and CEO Ben M. Palmer said demand strengthened as the quarter progressed, with sequential revenue growth across the majority of RPC’s service lines. The company also described recent geopolitical developments and higher commodity prices as “incrementally positive,” though management said customer responses have so far been modest.