Patterson-UTI Energy (PTEN) Tops Q3 EPS by 3c, Revenues Miss

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Go back to Patterson-UTI Energy (PTEN) Tops Q3 EPS by 3c, Revenues Miss

Patterson-UTI Energy Reports Financial Results for the Three and Nine Months Ended September 30, 2019

October 24, 2019 6:00 AM EDT

HOUSTON, Oct. 24, 2019 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported financial results for the three and nine months ended September 30, 2019.  The Company reported a net loss of $262 million, or $1.31 per share, for the third quarter of 2019, compared to a net loss of $75.0 million, or $0.34 per share, for the quarter ended September 30, 2018.  Excluding charges discussed below, the majority of which were non-cash, the net loss for the third quarter of 2019 would have been $52.9 million, or $0.27 per share.  Revenues for the third quarter of 2019 were $598 million, compared to $867 million for the third quarter of... More