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Patterson-UTI Energy (NASDAQ:PTEN) is set to give its latest quarterly earnings report on Wednesday, 2023-02-08. Here's what investors need to know before the announcement.
Analysts estimate that Patterson-UTI Energy will report an earnings per share (EPS) of $0.42.
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Patterson-UTI Energy bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Past Earnings Performance
Last quarter the company beat EPS by $0.10, which was followed by a 4.14% increase in the share price the next day.
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Here's a look at Patterson-UTI Energy's past performance and the resulting price change:
| Quarter | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 |
|---|---|---|---|---|
| EPS Estimate | 0.18 | -0.04 | -0.21 | -0.35 |
| EPS Actual | 0.28 | 0.05 | -0.13 | -0.38 |
| Price Change % | 4.14% | 3.27% | 7.46% | 11.75% |
Stock Performance
Shares of Patterson-UTI Energy were trading at $16.0 as of February 06. Over the last 52-week period, shares are up 47.22%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release.
To track all earnings releases for Patterson-UTI Energy visit their earnings calendar on our site.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.