RPC Inc. Q1 Profit Increases, beats estimates

(RTTNews) - RPC Inc. (RES) announced a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $71.52 million, or $0.33 per share. This compares with $15.08 million, or $0.07 per share, in last year's first quarter.

Excluding items, RPC Inc. reported adjusted earnings of $84.85 million or $0.39 per share for the period.

Analysts on average had expected the company to earn $0.37 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 67.5% to $476.67 million from $284.62 million last year.

RPC Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $71.52 Mln. vs. $15.08 Mln. last year. -EPS (Q1): $0.33 vs. $0.07 last year. -Analyst Estimate: $0.37 -Revenue (Q1): $476.67 Mln vs. $284.62 Mln last year.