RPC: 3Q Earnings Snapshot

October 23, 2019 GMT

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.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RES at https://www.zacks.com/ap/RES