Patterson-UTI Energy Reports Financial Results for the Three and Six Months Ended June 30, 2020

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Go back to Patterson-UTI Energy Reports Financial Results for the Three and Six Months Ended June 30, 2020

Patterson-UTI Energy (PTEN) Tops Q2 EPS by 2c, Revenues Beat

July 23, 2020 6:12 AM EDT

Patterson-UTI Energy (NASDAQ: PTEN) reported Q2 EPS of ($0.56), $0.02 better than the analyst estimate of ($0.58). Revenue for the quarter came in at $250.38 million versus the consensus estimate of $239.84 million.

Andy Hendricks, Patterson-UTI's Chief Executive Officer, stated, "We are very pleased with our performance during the second quarter in both contract drilling and pressure pumping. With our largest business, contract drilling, we are especially pleased with our results, as we were able to act quickly to reduce costs and increase margins. We greatly appreciate our strong customer base for their support, and we... More