Recap: Patterson-UTI Energy Q1 Earnings

Shares of Patterson-UTI Energy PTEN remained unaffected after the company reported Q1 results.

Quarterly Results

Earnings per share fell 26.67% year over year to ($0.57), which missed the estimate of ($0.56).

Revenue of $240,929,000 declined by 45.97% year over year, which beat the estimate of $239,830,000.

Outlook

Patterson-UTI Energy hasn't issued any earnings guidance for the time being.

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

Details Of The Call

Date: Apr 29, 2021

Time: 10:00 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Fpatenergy.com%2F&eventid=3081596&sessionid=1&key=63ABE384745A2C2FBE264C3E3BE2BDE4&regTag=&V2=false&sourcepage=register

Recent Stock Performance

52-week high: $9.74

52-week low: $2.38

Price action over last quarter: Up 9.13%

Company Profile

Patterson-UTI Energy is one of the largest North America-based land rig drilling contractors, and it also maintains moderately sized operations in pressure pumping and other business lines. Patterson was greatly boosted in size following its 2017 acquisition of Seventy Seven Energy.