RPC INC [RES] has reported a net loss of $195.1 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $1.6 billion
Based in ATLANTA, Georgia, RPC INC operates in the MINING sector.
In the annual report for the year ended December 31, 2023, the consolidated financial statements of the company reflected the following key figures compared to the same period in the previous year.
Revenue for the year was reported at $1.617 billion in 2023, a slight increase from $1.602 billion in 2022 and a significant growth compared to $865 million in 2021.
Cost of revenues (exclusive of depreciation and amortization) for 2023 stood at $1.09 billion, slightly higher than the $1.088 billion reported in 2022 and a notable increase from $663 million in 2021.
Operating income for 2023 was $244.95 million, a decrease from $287.94 million in 2022 but a substantial improvement compared to $16.29 million in 2021.
Net income for the year reached $195.113 million in 2023, down from $218.363 million in 2022 but significantly higher than $7.217 million in 2021.
Earnings per share (EPS) for basic and diluted amounts were both reported at $0.90 in 2023, a decline from $1.01 in 2022, while EPS for 2021 was $0.03.
Dividends paid per share were $0.16 in 2023, showing an increase from $0.04 in the previous year.
Overall, the company experienced mixed financial performance in 2023 compared to the previous year, with revenue and net income showing growth but operating income and EPS declining.
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