Patterson-UTI Energy Reports Steady Q1 2025 Performance

Patterson-UTI Energy ( (PTEN) ) has released its Q1 earnings. Here is a breakdown of the information Patterson-UTI Energy presented to its investors.

Patterson-UTI Energy, Inc. is a prominent provider of drilling and completion services for oil and natural gas exploration and production companies, operating primarily in the United States and select international markets. The company is known for its contract drilling services, integrated well completion services, and directional drilling services.

In its latest earnings report for the first quarter of 2025, Patterson-UTI Energy announced a total revenue of $1.3 billion and a net income of $1 million. The company also reported an adjusted EBITDA of $251 million and returned $51 million to shareholders, including $20 million in share repurchases.

Key financial highlights include a steady performance in the Drilling Services segment, with revenues of $413 million and an adjusted gross profit of $165 million. The Completion Services segment saw revenues of $766 million, driven by high utilization rates and growing demand for natural gas-powered assets. The Drilling Products segment maintained stable revenue with strong returns from new product innovations.

Looking ahead, Patterson-UTI Energy anticipates steady activity levels in its Drilling Services segment and expects a slight decline in adjusted gross profit due to seasonal cost increases. The company remains optimistic about the growing demand in natural gas basins and plans to continue its disciplined capital allocation strategy to enhance long-term returns.