RPC's 4Q Results Walloped by Pressure-Pumping Market Slowdown
RPC was hit with negative fourth-quarter results due to industry headwinds affecting its pressure-pumping business. Revenue fell 14% sequentially, almost entirely due to a 23% fall in pressure-pumping revenue (which had accounted for 58% of total company revenue in the third quarter). Adjusted operating margins fell to 5% from 13% sequentially, owing chiefly to operating leverage in the pressure-pumping business as well as modest (management estimated 2%) pricing declines. Our fair value estimat...RPC is a holding company for several oilfield services companies. The company provides oilfield services and equipment to oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the U.S., including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets. The services provided are: Technical Services, which include pressure pumping, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline services, and fishing; and Support Services, which include rental tools, oilfield pipe inspection services, well control school and energy personnel international.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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