Profile:
RPC is a holding company for several oilfield service operating companies, all of which have a history of conservative operating philosophies. RPC's corporate management philosophy throughout the years has been characterized by a long-term view of the oilfield operating cycles and a conservative capital structure, which are partially responsible for our historically high returns on invested capital.
RPC currently operates a number of products and services offered throughout the life cycle of a well. However, three service lines which account for more than 80% of RPC's revenues have benefited tremendously from the growth in directional and horizontal completion in the U.S. land market. These services serve our customers equally in natural gas and oil-directed completion operations.
RPC continues to seek out growth opportunities which will yield a high return on invested capital over time.
Investor Relations Contacts:
Mark Chekanow, CFA
Vice President, Corporate Development & Investor Relations
Telephone: (404) 419-3809
Mark.Chekanow@rpc.net
Sharon A. Gardner
Senior Manager Investor Relations & Corp. Communications
and Assistant Corporate Secretary
Telephone: (404) 321-2172
SGardner@rpc.net
Transfer Agent and Registrar:
For inquiries related to stock certificates, including changes of address, please contact:
For inquiries related to removing a stock legend, please contact:
Equiniti Trust Company, LLC
Attn: Legal Department
55 Challenger Road, 2nd Floor
Ridgefield Park, NJ 07660
Corporate Offices:
2801 Buford Hwy NE, Suite 300
Atlanta, GA 30329
(404) 321-2140
Fax: (404) 321-5483
irdept@rpc.net
Corporate Sustainability Report
Please see the Corporate Responsibility tab for RPC, Inc.’s Corporate Sustainability Report and additional Policies relating to Environmental, Social and Governance (ESG) related initiatives.
Non-GAAP Financial Measures
RPC, Inc. uses several non-GAAP financial measures of operating performance. These non-GAAP measures are adjusted net income, adjusted diluted earnings per share, adjusted operating profit, EBITDA, and adjusted EBITDA. We are using these non-GAAP measures today because they allow us to compare performance consistently over various periods without regard to non-recurring items. In addition, RPC is required to use EBITDA to report compliance with financial covenants under our revolving credit facility.
A non-GAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that either 1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of operations, balance sheet or statement of cash flows, or 2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Set forth below are reconciliations of these non-GAAP measures with their most comparable GAAP measures:
Reconciliation of Operating Income to Adjusted Operating Income
Operating Income
Add:
Pension settlement charges
Equals: Adjusted operating income
Reconciliation of Net Income to Adjusted Net Income
Net Income
Add:
Pension settlement charges, net of tax
Less:
Tax effect of pension settlement charges
Equals: Adjusted net income
Reconciliation of Diluted Earnings Per Share to Adjusted Diluted Earnings Per Share
Diluted Earnings Per Share
Add:
Pension settlement charges, net of tax
Less:
Tax effect of pension settlement charges
Equals: Adjusted diluted earnings per share
Reconciliation of Net Income to EBITDA and Adjusted EBITDA
Net Income
Add:
Income tax provision
Interest expense
Depreciation and amortization
Less:
Interest Income
Equals: EBITDA
Add:
Pension settlement charges
Equals: Adjusted EBITDA
Reconciliation of Operating Cash Flow to Free Cash Flow
Net cash provided by operating activities
Add:
Capital expenditures
Equals: Free cash flow
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