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Patterson-UTI: Q4 Earnings Snapshot
By AP News - Feb 05, 2025, 06:42 PM ET
Last Updated - Feb 05, 2025, 06:42 PM EST
HOUSTON (AP) — HOUSTON (AP) — Patterson-UTI Energy Inc. (PTEN) on Wednesday reported a loss of $51.6 million in its fourth quarter.
The Houston-based company said it had a loss of 13 cents per share. Losses, adjusted for costs related to mergers and acquisitions, were 12 cents per share.
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The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The provider of onshore contract drilling services posted revenue of $1.16 billion in the period, also missing Street forecasts. Seven analysts surveyed by Zacks expected $1.21 billion.
For the year, the company reported a loss of $968 million, or $2.44 per share. Revenue was reported as $5.38 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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