Recap: Patterson-UTI Energy Q3 Earnings

Shares of Patterson-UTI Energy PTEN rose 2.7% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share fell 122.22% year over year to ($0.60), which beat the estimate of ($0.62).

Revenue of $207,141,000 decreased by 65.39% year over year, which beat the estimate of $196,100,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: Oct 22, 2020

Time: 10:00 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=http%3A%2F%2Fir.plustherapeutics.com%2F&eventid=2625796&sessionid=1&key=07300C389D3DE2E67FDFB63E8CD8D151&regTag=&sourcepage=register

Price Action

Company's 52-week high was at $10.95

Company's 52-week low was at $1.61

Price action over last quarter: down 31.72%

Company Profile

Patterson-UTI Energy is one of the largest North America-based land rig drilling contractors. Its fleet consists of about 315 land rigs, which it markets to independents and small producers. The firm also operates a pressure pumping division and owns a small financial interest in oil and gas exploration and production assets in Texas and New Mexico.