Patterson-UTI Energy 3Q 2026: Revenue $1.34B, EPS $0.07— 10-Q Summary
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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
| Metric | Current quarter | Prior year quarter | YoY change |
| Revenue¹ | $1.34B | $1.18B | 14.1% |
| Net income² | $28.35M | ($36.4M) | 177.9% |
| Diluted EPS³ | $0.07 | ($0.1) | 170% |
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
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.