RPC Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - RPC Inc. (RES) released earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $40.26 million, or $0.19 per share. This compares with $87.01 million, or $0.40 per share, in last year's fourth quarter.

Excluding items, RPC Inc. reported adjusted earnings of $40.26 million or $0.19 per share for the period.

Analysts on average had expected the company to earn $0.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 18.2% to $394.53 million from $482.03 million last year.

RPC Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $40.26 Mln. vs. $87.01 Mln. last year. -EPS (Q4): $0.19 vs. $0.40 last year. -Analyst Estimates: $0.18 -Revenue (Q4): $394.53 Mln vs. $482.03 Mln last year.