Patterson-UTI Energy Reports Financial Results for the Three Months Ended March 31, 2019
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 6/24/2026
- Nasdaq, S&P end lower as tech stocks fall
- Micron posts record profit as AI memory demand fuels explosive growth
- Brent settles at lowest since before start of Iran war as more tankers exit Hormuz
- All eyes on Micron earnings tonight as sell-off raises stakes for AI memory trade
- Alphabet added to Dow Jones Industrial Average, Verizon dropped
- Needham Starts NeoVolta (NEOV) at Buy
- Wall Street ends lower on semiconductor selloff as AI spending concerns mount
- NextEra to discuss paying about $76 per share for Dominion, Bloomberg News reports
- Campbell Soup (CPB) Declares $0.39 Quarterly Dividend; 7.7% Yield
- UBS Reiterates Buy Rating on Snowflake Inc. (SNOW)
Patterson-UTI Energy (PTEN) Tops Q1 EPS by 7c, Revenues Beat
April 25, 2019 6:15 AM EDTPatterson-UTI Energy (NASDAQ: PTEN) reported Q1 EPS of ($0.14), $0.07 better than the analyst estimate of ($0.21). Revenue for the quarter came in at $704 million versus the consensus estimate of $694.06 million.
Andy Hendricks, Patterson-UTI's Chief Executive Officer, stated, "Drilling and completion activity slowed during the first quarter as E&P companies reacted to the sharp drop in oil prices at the end of 2018. In contract drilling, our rig count averaged 175 rigs during the first quarter, compared to an average of 183 during the fourth quarter. While oil prices strengthened and operator cash flow expectations have improved, operators have... More
