RPC (RES) Q2 2026 Earnings Call Transcript

RPC Inc. (RES) posted Q2 2026 revenue of $461 million, up 1% sequentially, while adjusted EBITDA margin expanded 250 basis points to 14.3%. The oilfield services firm credited strong execution in downhole tools and coiled tubing for the margin improvement, though wireline revenues dropped 16% on competitive pricing pressure and reduced customer activity.

The company lifted its 2026 capital expenditure guidance to $170-190 million and disclosed that CEO Ben Palmer will retire by year-end after three decades with RPC. Management struck a cautious tone on near-term activity despite supportive oil prices, pointing to geopolitical uncertainty that's keeping operators from committing to new investment.

The mixed results highlight diverging demand across service lines. While margin expansion signals operational leverage in core segments, the wireline decline underscores pricing headwinds in a competitive market. The CEO transition adds a leadership variable as RPC navigates volatile operator sentiment.