Texas Gov. Rick Perry announced Tuesday night that he will return to the Lone Star State to reassess his GOP presidential campaign after a fifth-place finish in the Iowa caucuses.

“With the voters’ decision tonight, I’ve decided to return to Texas, assess the results of tonight’s caucus, determine whether there is a path forward for myself in this race,” Perry said.

Perry had been scheduled to travel to South Carolina on Wednesday to campaign.

Rep. Michele Bachmann (R-Minn.), who finished in sixth place, offered no indication of any plans to drop out in her speech Tuesday night. She is also scheduled to go to South Carolina on Wednesday.

Perry’s fifth-place finish came despite him and his supporters spending more than anyone else on TV ads in the Hawkeye State.

His prospects in the next few contests don’t appear much better at this point. And pausing to reassess the campaign isn’t going to help him raise money if he decides to stay in the race.