Quarterly ResultAug 4, 2026, 04:48 PM
Patterson-UTI Q2 Net Loss Narrows to $19.6M; Refinances Debt
AI Summary
Patterson-UTI Energy Inc. reported a significant narrowing of its net loss for the second quarter of 2026 to $19.6 million, down from $49.1 million in the prior year. Basic EPS improved to $(0.05) from $(0.13). Total operating revenues for the quarter increased slightly to $1.23 billion. The company also completed a debt refinancing, issuing $500 million in 6.05% Senior Notes due 2036 and redeeming $483 million of 3.95% Senior Notes due 2028, and increased its cash dividend to $0.10 per share.
Key Highlights
- Q2 2026 net loss attributable to common stockholders narrowed to $19.6 million from $49.1 million in Q2 2025.
- Basic EPS for Q2 2026 improved to $(0.05) compared to $(0.13) in Q2 2025.
- Total operating revenues for Q2 2026 increased to $1.23 billion from $1.22 billion in Q2 2025.
- Issued $500 million of 6.05% Senior Notes due 2036 and redeemed $483 million of 3.95% Senior Notes due 2028.
- Cash, cash equivalents, and restricted cash decreased to $203.2 million at June 30, 2026, from $420.6 million at Dec 31, 2025.
- Increased cash dividends to $0.10 per share for Q2 2026, up from $0.08 per share in Q2 2025.
- Amended Credit Agreement, extending maturity for $450 million of revolving credit commitments to January 31, 2031.
Price Impact
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