Jan 30, 2025 / 02:00PM GMT
Benjamin Palmer - RPC Inc - President, Chief Executive Officer, Director
We see this technology as being well positioned to capture share of the North American land frac plug market and believe it has the potential to be a positive growth catalyst that is largely independent of broader OFS demand. Rental tools also declined slightly in the quarter due mostly to seasonal factors.
Mike will now discuss the quarter's financial results.
Michael Schmit - RPC Inc - Chief Financial Officer, Vice President, Corporate Secretary
Thanks, Ben. Shifting to the fourth quarter financial results with sequential comparisons to the third quarter of 2024, revenues decreased 1% to $335 million, driven primarily by lower non-pressure pumping activity, specifically downhole tools and rental tools, which offset growth in pressure pumping.
Breaking down our operating segments, technical services, which represented 94% of our total revenues in the quarter, was essentially unchanged. Support services were down 14% and represented 6% of our total fourth quarter revenues
Q4 2024 RPC Inc Earnings Call Transcript
Jan 30, 2025
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