RPC Inc. Q2 Profit Decreases - Quick Facts

(RTTNews) - RPC Inc. (RES) reported that its second-quarter net income decreased to $40.42 million or $0.19 per share, from $72.26 million or $0.33 per share, last year.

On average, 13 analysts polled by Thomson Reuters expected the company to report profit of $0.19 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues decreased 8.5 percent to $457.6 million, from $500.1 million in the second quarter of last year. Analysts expected revenue of $441.50 million for the quarter. Revenues decreased compared to the prior year primarily due to lower pricing coupled with lower activity levels in most of the company's service lines.