Patterson-UTI Energy, Inc. (PTEN) Earnings
Patterson-UTI Energy, Inc. is expected to report next earnings on July 22, 2026 (in NaN days), with a consensus EPS estimate of $-0.05. PTEN has beaten EPS estimates in 7 of its last 12 reported quarters (average surprise +28.0% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $-0.10 | $-0.06 | +40.0% | $1.1B | +1.4% |
| Feb 4, 2026 | $-0.11 | $-0.02 | +81.8% | $1.2B | +4.2% |
| Oct 22, 2025 | $-0.10 | $-0.06 | +40.0% | $1.2B | +6.9% |
| Jul 23, 2025 | $-0.04 | $-0.06 | -50.0% | $1.2B | +3.9% |
| Apr 23, 2025 | $-0.04 | $0.00 | +106.5% | $1.3B | +8.6% |
| Feb 5, 2025 | $-0.10 | $-0.12 | -20.0% | $1.2B | -7.9% |
| Oct 23, 2024 | $-0.03 | $-2.50 | -9027.4% | $1.4B | +8.4% |
| Jul 24, 2024 | $0.09 | $0.05 | -44.4% | $1.3B | -5.5% |
| May 1, 2024 | $0.13 | $0.15 | +15.4% | $1.5B | -0.3% |
| Feb 14, 2024 | $0.19 | $0.15 | -21.1% | $1.6B | +5.2% |
| Jul 26, 2023 | $0.44 | $0.45 | +2.3% | $759M | -2.9% |
| Feb 8, 2023 | $0.42 | $0.46 | +9.5% | $788M | +3.6% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 23, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• The company is hiring and building on momentum from 2025 with strong field execution across diversified drilling and completions businesses. • The commodity outlook has shifted due to geopolitical risk and oil supply disruptions, emphasizing the strategic importance of U.S. shale production. • In Drilling Services, pricing has been steady and cost control measures have been effective, with the rig count expected to increase through the second half of the year. • Completion Services has seen improving demand despite a winter storm disruption, with limited frac capacity in the industry. • Drilling Products faced challenges in the Middle East but the team delivered solid performance, and the company is focused on mitigating risks and improving market share. • The company remains focused on technology investment, capital allocation, and improving operational and financial efficiency.
Guidance
• Drilling Services: Second quarter rig count expected to average around 90 rigs, exit the quarter above average, with adjusted gross profit of approximately $130 million including $5 million in rig reactivation and mobilization costs. • Completion Services: Second quarter adjusted gross profit expected to be approximately $105 million with near full utilization of active assets. • Drilling Products: Second quarter adjusted gross profit expected to decline slightly. • General and Administrative expenses: Second quarter expected to be approximately $67 million. • Depreciation, depletion, amortization and impairment expense: Second quarter expected to be approximately $220 million. • Board approved a quarterly dividend of $0.10 per share, payable June 15 to shareholders of record as of June 1
Segment performance
Drilling Services: First quarter revenue was $352 million and adjusted gross profit was $134 million, including $3 million in early contract termination revenue. In U.S. contract drilling, 8,301 operating days were logged with an average operating rig count of 92 rigs. For the second quarter, the rig count is expected to average around 90 rigs and exit the quarter above the average, with adjusted gross profit expected to be approximately $130 million, including $5 million of rig reactivation and mobilization costs. Completion Services: First quarter revenue was $680 million and adjusted gross profit was $98 million, with results impacted by roughly five days of winter storm disruption in January. Excluding the disruption, frac calendars were near full. For the second quarter, adjusted gross profit is expected to be approximately $105 million with near full utilization of active assets. Drilling Products: First quarter revenue was $80 million and adjusted gross profit was $33 million, affected by disruption in the Middle East and cost inflation. For the second quarter, adjusted gross profit is expected to decline slightly. Other: First quarter revenue was $6 million and adjusted gross profit was $3 million. For the second quarter, adjusted gross profit is expected to be approximately $5 million
Risks & headwinds
• Fluctuations in commodity prices can impact revenue and profitability. • Geopolitical tensions may disrupt operations in regions where the company has significant exposure, such as the Middle East. • Inflation in key inputs like tungsten and logistics costs can increase operating expenses. • Uncertainty in the macroeconomic environment can affect industry activity levels and demand for the company's services. • Intense competition in the drilling and completion services industry can pressure pricing and market share.
Analyst Q&A
Q: Saurabh Pant inquired about publics' thoughts on adding activity, the supply side equation, and rig and frac capacity.
A: William Andrew Hendricks discussed excitement about rigs, sold-out top-tier equipment, focus on returns and pricing.
Q: Derek John Podhaizer asked about the materiality of expenses to reactivate rigs and capital needed for certain rigs, and frac calendar white space.
A: William Andrew Hendricks talked about rig reactivation costs, structural upgrades, and frac calendar filling.
Q: James Rollyson questioned how to get pricing back to previous levels and margins.
A: William Andrew Hendricks discussed steady pricing increase and return improvement.
Q: Scott Andrew Gruber asked about frac pricing gaps.
A: William Andrew Hendricks and C. Andrew Smith talked about rising tide lifting all boats and spread dynamics.
Q: Stephen David Gengaro asked about margin inflection and drilling-completions packaging.
A: William Andrew Hendricks discussed smoother pricing increase and positive impact of tighter market on offering.
Q: Arun Jayaram asked about U.S. shale basins with incremental demand and capital deployment.
A: William Andrew Hendricks talked about multiple basins and evaluating returns.
Q: Keith MacKey asked about termination revenue, rig reactivation costs, and inflation.
A: William Andrew Hendricks and C. Andrew Smith discussed factors and mitigation.
Q: Douglas Lee Becker asked about rig reactivation line of sight.
A: William Andrew Hendricks talked about market direction.
Q: Edward Kim asked about U.S. land rig count and 2026 rig count.
A: C. Andrew Smith and William Andrew Hendricks discussed budget cycle and projections.
Q: Daniel Robert Kutz asked about international business activity.
A: William Andrew Hendricks talked about Middle East, South America, and Venezuela operations.
Q: John Matthew Daniel asked about supply chain, rig specs in international, and employees in Middle East.
A: William Andrew Hendricks talked about lead times, rig specs, and employee return