RPC Inc. Q1 Profit Decreases, misses estimates

(RTTNews) - RPC Inc. (RES) announced earnings for first quarter that decreased from last year and missed the Street estimates.

The company's bottom line came in at $27.47 million, or $0.13 per share. This compares with $71.52 million, or $0.33 per share, in last year's first quarter.

Excluding items, RPC Inc. reported adjusted earnings of $27.47 million or $0.13 per share for the period.

Analysts on average had expected the company to earn $0.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 20.7% to $377.83 million from $476.67 million last year.

RPC Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $27.47 Mln. vs. $71.52 Mln. last year. -EPS (Q1): $0.13 vs. $0.33 last year. -Revenue (Q1): $377.83 Mln vs. $476.67 Mln last year.