Patterson-UTI Energy 3Q 2026: Revenue $1.34B, EPS $0.07— 10-Q Summary

Patterson-UTI Energy reported third-quarter 2026 revenue of $1.34 billion, up 14.1% from the prior-year quarter, and net income of $28.35 million, compared with a net loss of $36.4 million. Diluted EPS was $0.07, versus a loss per share of $0.1.

Financial Highlights

¹ Reported as “Total operating revenues”. ² Reported as “Net income (loss) attributable to common stockholders”. ³ Reported as “Net income (loss) attributable to common stockholders per common share”.

Business Highlights

• Revenue rose 9% sequentially, with completion services accounting for 60% of revenue.
• U.S. operating rigs averaged 101 during the quarter and ended at 104; management expects an average of about 104 rigs in the fourth quarter.
• Completion services revenue increased 7% sequentially, driven by fracturing pricing gains. The company expects adjusted gross profit in the segment to improve in the fourth quarter.
• Drilling products revenue grew 21% sequentially on stronger U.S. activity and pricing, while fourth-quarter adjusted gross profit is expected to decline.
• The company sold 13 rigs, including three in Colombia, as it exits the country; the exit is expected to be substantially complete within a year.

Original SEC Filing: PATTERSON UTI ENERGY INC [ PTEN ] - 10-Q - Nov. 02, 2026