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Patterson-UTI: Q3 Earnings Snapshot
By AP News - Oct 23, 2024, 05:54 PM ET
Last Updated - Dec 16, 2024, 06:03 PM EST
HOUSTON (AP) — HOUSTON (AP) — Patterson-UTI Energy Inc. (PTEN) on Wednesday reported a loss of $978.8 million in its third quarter.
The Houston-based company said it had a loss of $2.50 per share. Earnings, adjusted for one-time gains and costs, came to less than 1 cent on a per-share basis.
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The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The provider of onshore contract drilling services posted revenue of $1.36 billion in the period, exceeding Street forecasts. Six analysts surveyed by Zacks expected $1.29 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PTEN at https://www.zacks.com/ap/PTEN
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