Patterson-UTI Energy: Q1 Earnings Insights

Shares of Patterson-UTI Energy (NASDAQ:PTEN) rose 8.7% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share fell 221.43% over the past year to ($0.45), which beat the estimate of ($0.47).

Revenue of $445,927,000 less by 36.67% year over year, which beat the estimate of $443,360,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

How To Listen To The Conference Call

Date: Apr 23, 2020

Time: 08:04 PM ET

Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Fpatenergy.com%2Finvestors%2Fevents%2Fdefault.aspx&eventid=2157460&sessionid=1&key=583171E4F6FDF39B9FEDB2A92BC57501&regTag=&sourcepage=register

Recent Stock Performance

Company's 52-week high was at $16.27

52-week low: $1.61

Price action over last quarter: down 66.12%

Company Description

Patterson-UTI Energy is one of the largest North America-based land rig drilling contractors. Its fleet consists of about 315 land rigs, which it markets to independents and small producers. The firm also operates a pressure pumping division and owns a small financial interest in oil and gas exploration and production assets in Texas and New Mexico.