Patterson-UTI Energy (PTEN) Misses Q1 EPS by 1c

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Go back to Patterson-UTI Energy (PTEN) Misses Q1 EPS by 1c

Patterson-UTI Energy Reports Financial Results for the Three Months Ended March 31, 2021

April 29, 2021 6:00 AM EDT

HOUSTON, April 29, 2021 /PRNewswire/ --  PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported financial results for the three months ended March 31, 2021.  The Company reported a net loss of $106 million, or $0.57 per share, for the first quarter of 2021, compared to a net loss of $435 million, or $2.28 per share, for the first quarter of 2020.  Revenues for the first quarter of 2021 were $241 million, compared to $446 million for the first quarter of 2020.

Andy Hendricks, Patterson-UTI's Chief Executive Officer, stated, "First quarter financial results exceeded our expectations, as revenues and adjusted EBITDA improved sequentially, despite... More