Quarterly ResultApr 28, 2026, 04:13 PM
PTEN Q1 Net Loss $(24.6)M; Revenue $1.12B, down 12.8%
AI Summary
Patterson-UTI Energy Inc. reported a net loss attributable to common stockholders of $(24.6) million, or $(0.06) per share, for Q1 2026, a significant decline from a net income of $1.0 million in Q1 2025. Total operating revenues decreased by 12.8% to $1.12 billion. The company declared a cash dividend of $0.10 per share and has approximately $694 million remaining under its share buyback program. Additionally, the company received a favorable final judgment in a legal dispute, which is currently under appeal.
Key Highlights
- Q1 2026 net loss attributable to common stockholders $(24.6)M vs Q1 2025 net income $1.0M.
- Q1 2026 basic EPS $(0.06) vs Q1 2025 basic EPS $0.00.
- Q1 2026 total operating revenues $1.12B, down from $1.28B in Q1 2025.
- Drilling Services revenue $351.7M in Q1 2026, down from $412.9M in Q1 2025.
- Completion Services revenue $679.6M in Q1 2026, down from $766.1M in Q1 2025.
- Net cash provided by operating activities $63.9M in Q1 2026, down from $208.1M in Q1 2025.
- Cash dividend declared $0.10 per share for Q1 2026, up from $0.08 in Q1 2025.
- $694M remaining authorization for share repurchases as of March 31, 2026.
Price Impact
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