Patterson-UTI Energy (PTEN) Tops Q1 EPS by 7c, Revenues Beat

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Go back to Patterson-UTI Energy (PTEN) Tops Q1 EPS by 7c, Revenues Beat

Patterson-UTI Energy Reports Financial Results for the Three Months Ended March 31, 2019

April 25, 2019 6:00 AM EDT

HOUSTON, April 25, 2019 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported financial results for the three months ended March 31, 2019.  The Company reported a net loss of $28.6 million, or $0.14 per share, for the first quarter of 2019, compared to a net loss of $34.4 million, or $0.16 per share, for the quarter ended March 31, 2018.  Revenues for the first quarter of 2019 were $704 million, compared to $809 million for the first quarter of 2018.

During the first quarter, the Company invested $75.1 million to repurchase 5.4 million shares, which represents 2.5% of the outstanding shares on December 31, 2018.  In... More