RPC Inc. Q2 Profit Increases, but misses estimates

(RTTNews) - RPC Inc. (RES) reported earnings for its second quarter that increased from the same period last year but missed the Street estimates.

The company's earnings totaled $65.01 million, or $0.30 per share. This compares with $46.94 million, or $0.22 per share, in last year's second quarter.

Excluding items, RPC Inc. reported adjusted earnings of $65.70 million or $0.30 per share for the period.

Analysts on average had expected the company to earn $0.36 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.7% to $415.86 million from $375.51 million last year.

RPC Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $65.01 Mln. vs. $46.94 Mln. last year. -EPS (Q2): $0.30 vs. $0.22 last year. -Analyst Estimate: $0.36 -Revenue (Q2): $415.86 Mln vs. $375.51 Mln last year.