The Atlanta-based RPC reported a net loss of $3.06 million, or 2 cents per share, a sharp reversal from the $12.8 million profit recorded during the same period last year. While revenue grew year-over-year to $425.8 million, it fell 5% sequentially compared to the third quarter. The market reacted sharply to the miss, sending shares down 19% to $5.34 in Tuesday morning trading.

Market Headwinds and December Slump

Chief Executive Officer Ben Palmer attributed the decline to a significant drop in customer activity late in the year. Although the quarter began with momentum, Palmer noted that a "weak December" hampered performance as clients scaled back operations. The company also cited a challenging macro environment, where geopolitical developments have triggered increased volatility in crude oil prices.

On an adjusted basis, the company earned 4 cents per share, falling short of the 7 cents per share projected by analysts polled by FactSet. Despite the quarterly earnings miss, the reported revenue of $425.8 million slightly exceeded the $425.2 million consensus estimate. The stock has now shed approximately 15% of its value over the past year as the energy services sector grapples with fluctuating demand.