RPC: 3Q Earnings Snapshot
ATLANTA (AP) _ RPC Inc. (RES) on Wednesday reported a third-quarter loss of $69.2 million, after reporting a profit in the same period a year earlier.
The Atlanta-based company said it had a loss of 33 cents per share. Losses, adjusted for asset impairment costs, came to 8 cents per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The oil and gas services company posted revenue of $293.2 million in the period, which also fell short of Street forecasts. Seven analysts surveyed by Zacks expected $342.7 million.
RPC shares have fallen 48% since the beginning of the year. The stock has decreased 65% in the last 12 months.