The 10-second takeaway
For the quarter ended March 31 (Q1), RPC missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue shrank significantly. GAAP earnings per share contracted significantly.
Margins dropped across the board.
RPC tallied revenue of $425.8 million. The seven analysts polled by S&P Capital IQ looked for sales of $468.3 million on the same basis. GAAP reported sales were 15% lower than the prior-year quarter's $502.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.16. The 11 earnings estimates compiled by S&P Capital IQ anticipated $0.24 per share. GAAP EPS of $0.16 for Q1 were 57% lower than the prior-year quarter's $0.37 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 37.0%, 850 basis points worse than the prior-year quarter. Operating margin was 14.1%, much worse than the prior-year quarter. Net margin was 8.2%, 790 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $472.0 million. On the bottom line, the average EPS estimate is $0.24.
Next year's average estimate for revenue is $1.89 billion. The average EPS estimate is $0.99.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 463 members out of 487 rating the stock outperform, and 24 members rating it underperform. Among 120 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 115 give RPC a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on RPC is hold, with an average price target of $14.50.
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