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

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

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

July 23, 2020 6:00 AM EDT

HOUSTON, July 23, 2020 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported financial results for the three and six months ended June 30, 2020.  The Company reported a net loss of $150 million, or $0.81 per share, for the second quarter of 2020, compared to a net loss of $49.4 million, or $0.24 per share, for the second quarter of 2019.  Excluding items discussed below, the net loss for the second quarter would have been $105 million, or $0.56 per share.  Revenues for the second quarter of 2020 were $250 million, compared to $676 million for the second quarter of 2019.

For the six... More