RPC Inc. shows strong financials and consistent performance, offering stability
Feeling a little gloomy? Perhaps it is not because the workload tends to pick up in the fall or that you miss your kids laughing in and around the house. Maybe the fact that September is the worst month of the year for stocks is getting you down? Or maybe you are looking ahead and thinking that the volatility of October is coming fast, and although that month has generally been positive, some of the worst crashes have occurred as the spooks of Halloween approach.
RES has numerous attributes that get The Contra Guys excited. A key one is that insiders own more than 60 per cent of the company. That is huge. While revenues click in at US$1.6-billion, the recent sales drop includes a 17-per-cent decrease in pressure pumping, the firm’s largest business. That was somewhat offset by an increase of 8 per cent in the rest of the revenues.
The executive of the firm is exceedingly stable. Chief executive officer Ben M. Palmer served as the chief financial officer from 1996 and became president and CEO in 2022. The previous CEO/president, Richard Hubbell, took on the position in 2003 and became executive chairman in 2022.
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