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Factors to Take Into Account Ahead of RPC's (RES) Q1 Earnings
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RPC, Inc. (RES - Free Report) is set to report first-quarter 2023 earnings results on Apr 26, before the opening bell.
In the last reported quarter, RPC’s adjusted earnings of 41 cents per share beat the Zacks Consensus Estimate of 30 cents due to higher activity levels in all the service lines and rising equipment utilization.
RPC’s bottom line beat the Zacks Consensus Estimate thrice and met the same once in the trailing four quarters, the average surprise being 46.2%. This is depicted in the graph below:
Let’s see how things have shaped up prior to this announcement.
Estimate Trend
The Zacks Consensus Estimate for the company’s first-quarter earnings per share of 41 cents has witnessed no movement in the past 30 days. The estimated figure suggests a substantial improvement from the earnings of 7 cents reported in the prior-year quarter.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $495 million indicates a 73.7% improvement from the year-ago reported figure.
Factors to Note
Higher oil price was favorable for exploration and production activities in the March-end quarter. Although crude prices were high, it was not as good as a year ago. Hence, RPC’s oilfield service demand is likely to have declined. This, in turn, is likely to have affected the company’s oilfield service business.
The Zacks Consensus Estimate for the operating profit of the company’s Technical Services segment is pegged at $114 million, indicating an increase from the year-ago reported level of $21.8 million. Also, the Zacks Consensus Estimate for the operating profit of the company’s Support Services segment is pegged at $7 million, suggesting an increase from the year-ago reported level of $2.8 million.
Despite expecting higher operating profits from the company’s Technical and Support Services segments, rising costs are expected to have affected RPC’s performance in the to-be-reported quarter. This is because many companies have been forced to pay higher prices for equipment and labor, which affected their profitability.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for RPC this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: RPC’s Earnings ESP is 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate both are currently pegged at earnings of 41 cents per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: RPC currently carries a Zacks Rank #3.
Stocks to Consider
Here are some companies that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly results:
Enterprise Products is scheduled to release first-quarter earnings on May 2. The Zacks Consensus Estimate for the company’s earnings is pegged at 60 cents per share, suggesting no change from the prior-year reported figure.
TechnipFMC plc (FTI - Free Report) currently has an Earnings ESP of +3.71% and a Zacks Rank #3.
TechnipFMC is scheduled to release first-quarter earnings on Apr 27. The Zacks Consensus Estimate for its earnings is pegged at 4 cents per share, suggesting an increase from the prior-year reported figure.
Sunoco LP (SUN - Free Report) has an Earnings ESP of +3.95% and is currently a Zacks #1 Ranked player.
Sunoco is scheduled to release first-quarter results on May 2. The Zacks Consensus Estimate for SUN’s earnings is pegged at $1.18 per share, suggesting a decline from the prior-year reported figure.
Image: Bigstock
Factors to Take Into Account Ahead of RPC's (RES) Q1 Earnings
RPC, Inc. (RES - Free Report) is set to report first-quarter 2023 earnings results on Apr 26, before the opening bell.
In the last reported quarter, RPC’s adjusted earnings of 41 cents per share beat the Zacks Consensus Estimate of 30 cents due to higher activity levels in all the service lines and rising equipment utilization.
RPC’s bottom line beat the Zacks Consensus Estimate thrice and met the same once in the trailing four quarters, the average surprise being 46.2%. This is depicted in the graph below:
RPC, Inc. Price and EPS Surprise
RPC, Inc. price-eps-surprise | RPC, Inc. Quote
Let’s see how things have shaped up prior to this announcement.
Estimate Trend
The Zacks Consensus Estimate for the company’s first-quarter earnings per share of 41 cents has witnessed no movement in the past 30 days. The estimated figure suggests a substantial improvement from the earnings of 7 cents reported in the prior-year quarter.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues of $495 million indicates a 73.7% improvement from the year-ago reported figure.
Factors to Note
Higher oil price was favorable for exploration and production activities in the March-end quarter. Although crude prices were high, it was not as good as a year ago. Hence, RPC’s oilfield service demand is likely to have declined. This, in turn, is likely to have affected the company’s oilfield service business.
The Zacks Consensus Estimate for the operating profit of the company’s Technical Services segment is pegged at $114 million, indicating an increase from the year-ago reported level of $21.8 million. Also, the Zacks Consensus Estimate for the operating profit of the company’s Support Services segment is pegged at $7 million, suggesting an increase from the year-ago reported level of $2.8 million.
Despite expecting higher operating profits from the company’s Technical and Support Services segments, rising costs are expected to have affected RPC’s performance in the to-be-reported quarter. This is because many companies have been forced to pay higher prices for equipment and labor, which affected their profitability.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for RPC this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: RPC’s Earnings ESP is 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate both are currently pegged at earnings of 41 cents per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: RPC currently carries a Zacks Rank #3.
Stocks to Consider
Here are some companies that you may want to consider, as these have the right combination of elements to post an earnings beat in the upcoming quarterly results:
Enterprise Products Partners L.P. (EPD - Free Report) currently has an Earnings ESP of +3.05% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Enterprise Products is scheduled to release first-quarter earnings on May 2. The Zacks Consensus Estimate for the company’s earnings is pegged at 60 cents per share, suggesting no change from the prior-year reported figure.
TechnipFMC plc (FTI - Free Report) currently has an Earnings ESP of +3.71% and a Zacks Rank #3.
TechnipFMC is scheduled to release first-quarter earnings on Apr 27. The Zacks Consensus Estimate for its earnings is pegged at 4 cents per share, suggesting an increase from the prior-year reported figure.
Sunoco LP (SUN - Free Report) has an Earnings ESP of +3.95% and is currently a Zacks #1 Ranked player.
Sunoco is scheduled to release first-quarter results on May 2. The Zacks Consensus Estimate for SUN’s earnings is pegged at $1.18 per share, suggesting a decline from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.