Patterson-UTI Energy Reports Financial Results for the Three Months and Year Ended December 31, 2020
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Patterson-UTI Energy (PTEN) Tops Q4 EPS by 5c, Revenues Beat
February 4, 2021 6:15 AM ESTPatterson-UTI Energy (NASDAQ: PTEN) reported Q4 EPS of ($0.57), $0.05 better than the analyst estimate of ($0.62). Revenue for the quarter came in at $220.8 million versus the consensus estimate of $218.12 million.
Andy Hendricks, Patterson-UTI's Chief Executive Officer, stated, "Drilling and completion activity improved during the quarter, marking what we believe to be the beginning of a recovery. Based on our customer engagement, we are confident that activity levels will continue to improve. With increased confidence that a recovery has begun, we took advantage of our strong balance sheet by repurchasing a portion of our... More
