Patterson-UTI Energy Reports Financial Results for the Three Months Ended March 31, 2020
Patterson-UTI Energy, Inc. (PTEN)
Last patterson-uti energy, inc. earnings: 4/23 06:01 am
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patenergy.com
Company Research
Source: PR Newswire
HOUSTON, April 23, 2020 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported financial results for the three months ended March 31, 2020. The Company reported a net loss of $435 million, or $2.28 per share, for the first quarter of 2020, compared to a net loss of $28.6 million, or $0.14 per share, for the first quarter of 2019. Revenues for the first quarter of 2020 were $446 million, compared to $704 million for the first quarter of 2019.Financial results for the three months ended March 31, 2020 include pre-tax, non-cash charges totaling $406 million ($349 million after-tax or $1.83 per share). These charges include a $395 million impairment charge for the remaining goodwill on the Company's balance sheet and a $10.6 million impairment charge related to certain of the Company's E&P assets.Andy Hendricks, Patterson-UTI's Chief Executive Officer, stated, "In response to the rapid decline in commodity prices, E&P companies acted swiftly to reduce drilling and com
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News
- Patterson-UTI Reports Drilling Activity for October 2024 [Yahoo! Finance]Yahoo! Finance
- Patterson-UTI Reports Drilling Activity for October 2024Accesswire
- Patterson-UTI Energy, Inc. (NASDAQ: PTEN) had its price target lowered by analysts at Citigroup Inc. from $11.00 to $10.00. They now have a "buy" rating on the stock.MarketBeat
- Patterson-UTI Energy (NASDAQ:PTEN) Is Paying Out A Dividend Of $0.08 [Yahoo! Finance]Yahoo! Finance
- Patterson-UTI Energy, Inc. (NASDAQ: PTEN) had its price target lowered by analysts at Raymond James from $12.00 to $11.00. They now have a "strong-buy" rating on the stock.MarketBeat
PTEN
Earnings
- 10/23/24 - Miss
PTEN
Sec Filings
- 11/8/24 - Form SC
- 10/28/24 - Form 10-Q
- 10/24/24 - Form 8-K
- PTEN's page on the SEC website