Earnings ·
Patterson-UTI Energy reported second quarter 2026 total revenue of $1.2 billion, a 10% sequential increase, alongside…
PTENPatterson Uti Energy Inc
Patterson-UTI Energy reported second quarter 2026 total revenue of $1.2 billion, a 10% sequential increase, alongside a net loss attributable to common stockholders of $20 million and adjusted EBITDA of $232 million. The company declared a quarterly cash dividend of $0.10 per share, payable on September 15, 2026, to shareholders of record as of September 1, 2026. Management expects third-quarter drilling services adjusted gross profit to be approximately $145 million and completion services adjusted gross profit to be approximately $140 million, driven by rising U.S. onshore activity and constructive pricing trends. Patterson-UTI Energy operates in the oilfield services industry, providing contract drilling, well completion, directional drilling, and specialized bit solutions.