Patterson-UTI Energy (PTEN) Tops Q4 EPS by 10c

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Go back to Patterson-UTI Energy (PTEN) Tops Q4 EPS by 10c

Patterson-UTI Energy Reports Financial Results for Three and Twelve Months Ended December 31, 2018

February 7, 2019 6:00 AM EST

HOUSTON, Feb. 7, 2019 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported financial results for the three and twelve months ended December 31, 2018.  The Company reported a net loss of $201 million, or $0.93 per share, for the fourth quarter of 2018, compared to a net profit of $195.4 million, or $0.88 per share, for the quarter ended December 31, 2017, which included the positive impact of the 2017 tax law change.  The Company recorded a non-cash goodwill impairment charge in the fourth quarter of 2018 of $211 million ($192 million after-tax or $0.89 per share).  Excluding the goodwill impairment charge, the net loss... More