Key Highlights

  • Consensus EPS of 0.04 compares with a second-quarter diluted loss of 0.05, against a loss of 0.13 a year earlier.
  • Consensus revenue of USD 1.31 billion compares with second-quarter operating revenues of USD 1,227,967 thousand, against USD 1,219,320 thousand.
  • Completion Services revenue was USD 753,641 thousand against USD 719,332 thousand, while Drilling Services was USD 373,501 thousand.
  • The operating loss was USD 6,962 thousand against USD 29,486 thousand, and the net loss was USD 19,602 thousand.

Patterson-UTI Energy (NASDAQ:PTEN) reports third-quarter results on Wednesday, Oct. 28, with the timing not given in the estimates table. Consensus stands at EPS of 0.04 on revenue of USD 1.31 billion, and the company has a market capitalization of USD 4.67 billion.

Patterson-UTI Energy reports Drilling Services, Completion Services and Drilling Products results. Second-quarter operating revenues were USD 1,227,967 thousand against USD 1,219,320 thousand, and the net loss was USD 19,602 thousand against USD 49,144 thousand.

Estimates Against the Last Reported Quarter

The EPS estimate of 0.04 is above the second-quarter diluted loss of 0.05, which compared with a loss of 0.13 a year earlier. The estimates table does not state its EPS basis. The revenue estimate of USD 1.31 billion is above the USD 1,227,967 thousand reported, which compared with USD 1,219,320 thousand.

The loss before income taxes was USD 27,922 thousand against USD 47,503 thousand. Revenue from contracts with customers was USD 1,218,475 thousand against USD 1,211,527 thousand.

What the Filing Gives and What the Sources Leave Open

The sources supplied include no earnings call transcript or published guidance, so there are no management ranges to set against the estimates. The filing carries no third-quarter figures.

The filing states that energy markets were volatile in the first half of 2026 because of geopolitical developments in the Middle East, including the conflict with Iran. It states that oil prices averaged 95.65 per barrel in the second quarter against 72.74 in the first quarter, and that management approved a plan to exit Colombian contract drilling operations.

Segment Revenue and Cost Detail

Drilling Services revenue was USD 373,501 thousand against USD 403,805 thousand, and Completion Services revenue was USD 753,641 thousand against USD 719,332 thousand. Drilling Products revenue was USD 91,333 thousand against USD 88,390 thousand.

Drilling Services operating costs were USD 259,619 thousand against USD 254,772 thousand, and Completion Services operating costs were USD 630,716 thousand against USD 619,083 thousand. Other revenue was USD 9,492 thousand against USD 7,793 thousand.

Cash, Debt and Buyback Authorization

Cash and cash equivalents were USD 201,024 thousand against USD 183,768 thousand a year earlier, and long-term debt, net was USD 1,234,173 thousand against USD 1,221,038 thousand at year end. Total liabilities were USD 2,266,143 thousand.

The filing describes a share repurchase program covering an aggregate of USD 1.0 billion of future repurchases, with purchases made through open market transactions. The operating loss was USD 6,962 thousand against USD 29,486 thousand, and basic EPS was negative 0.05 against negative 0.13. The estimates table lists a market capitalization of USD 4.67 billion.

Figures to Follow in the Release

Reported EPS against 0.04 and revenue against USD 1.31 billion are the headline comparisons. Other markers are Completion Services revenue, the Colombia exit and oil prices.