RPC (RES) Reports Sequential Revenue Growth in Q2 2026
RPC Inc. reported sequential revenue growth of $461 million for Q2 2026, driven by improved performance in Technical Services and an 11% increase in Support Services. Adjusted EBITDA rose to $66 million from the previous quarter's $53.5 million due to operational leverage and a sales tax refund. The company also saw margin improvement of 250 basis points to 14.3%, attributed to better job mix and pricing gains. RPC highlighted strong growth in specific service lines, including ThruTubing Solutions (+10%), Cudd Pressure Control (+8%), Snubbing (+14%), and Coiled Tubing (+6%). However, Wireline Revenue dropped 16% due to customer activity reductions and aggressive competitor pricing. The company raised its capital expenditure guidance for the year to $170 million–$190 million in support of growth initiatives. RPC ended Q2 with strong liquidity at $180 million cash on hand, no borrowings against a $100 million credit facility, and generated free cash flow despite higher capex. Management remains cautious about reactivating idled pressure pumping fleets due to current market pricing levels.
Tickers: $RES
Topics: adjusted_ebitda revenue support_services technical_services