Patterson-UTI Energy (PTEN)
NASDAQ:PTEN
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Earnings Data
Report Date
Jul 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.07Last Year’s EPS
-0.13Same Quarter Last Year
Moderate Buy
Based on 11 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a constructive and cautiously optimistic outlook: the company reported solid segment performance and healthy liquidity while highlighting clear signs of demand and early pricing recovery across drilling and completion services. Management emphasized disciplined capital allocation, fleet high-grading toward higher‑return natural-gas-powered equipment, and targeted technology investments tied to term contracts. Offsetting positives are a Q1 net loss, seasonal working-capital-driven negative free cash flow, weather-related disruption in completions (~$9M EBITDA impact), international disruption and input cost inflation (notably tungsten and diesel), and a deliberate choice not to reactivate older diesel fleets given questionable long-term returns. Overall, the positives around utilization, pricing momentum, balance sheet strength, and a clear plan to capture upside from rising U.S. shale activity outweigh the near-term headwinds.Company Guidance
Consolidated Revenue and Adjusted EBITDA
Total reported revenue of $1.117 billion for Q1 2026 and Adjusted EBITDA of $205 million (includes $3 million early contract termination revenue), demonstrating strong cash-generating operations despite seasonality.
Drilling Services Performance and Rig Count Momentum
Drilling Services Q1 revenue of $352 million and adjusted gross profit of $134 million; average operating rig count of 92 rigs (8,301 operating days). Management expects Q2 average rig count ~90 and to exit Q2 near 92–95 rigs, indicating a near-term reactivation trend and improving drilling demand.
Completion Services Utilization and Near-Term Outlook
Completion Services Q1 revenue of $680 million and adjusted gross profit of $98 million; excluding a five‑day January winter storm disruption, frac calendars were essentially full with natural gas-powered assets near fully utilized. Q2 adjusted gross profit expected ~ $105 million with near-full utilization.
Fleet High-Grading Toward Natural Gas-Powered Equipment
Strategic high-grading of frac fleet: nameplate horsepower expected to decline this year as older diesel fleets are de-emphasized. By year-end, management targets >15% of active horsepower powered 100% by natural gas and ~90% powered at least partially by natural gas, improving operational efficiency and emissions profile.
Strong Liquidity and Capital Allocation Discipline
Ended Q1 with $337 million cash on hand, undrawn $500 million revolver, no senior note maturities until 2028, and board-approved quarterly dividend of $0.10 per share. Q1 CapEx was $117 million (Drilling Services $54M, Completion Services $45M, Drilling Products $16M).
Evidence of Pricing Recovery
Management reports early signs of pricing improvement: leading-edge rig dayrates moving up from the low-$30k range; anecdotal frac pricing increases (some customers ~10% increases). CFO commentary suggests 5%–10% incremental pricing could justify new-build investment for next‑gen equipment.
Operational Discipline and Technology Investments
Company is prioritizing technology and structural upgrades (e.g., Apex XC+ rigs and Emerald 100% natural-gas pumps) tied to term contracts to lock in returns; ongoing cost-control programs from late last year continued to support results in Q1.
PTEN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
PTEN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 22, 2026 | $10.81 | $11.14 | +3.05% |
Feb 04, 2026 | $7.86 | $8.07 | +2.76% |
Oct 22, 2025 | $5.92 | $6.59 | +11.19% |
Jul 23, 2025 | $5.93 | $5.86 | -1.13% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Patterson-UTI Energy (PTEN) report earnings?
Patterson-UTI Energy (PTEN) is schdueled to report earning on Jul 29, 2026, Before Open (Confirmed).
What is Patterson-UTI Energy (PTEN) earnings time?
Patterson-UTI Energy (PTEN) earnings time is at Jul 29, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PTEN EPS forecast?
PTEN EPS forecast for the fiscal quarter 2026 (Q2) is -0.07.