Patterson-UTI Energy (PTEN) Stock

Patterson-UTI (PTEN) reported earnings 30 days ago. What's next for the stock?

Patterson-UTI (PTEN) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of $0.01. This compares to earnings of $0.20 per share a year ago.

Patterson-UTI (PTEN) reported earnings 30 days ago. What's next for the stock?

Patterson-UTI (PTEN) anticipates to generate 40% of its free cash flow from adjusted EBITDA by 2024.

Patterson-UTI (PTEN) is expected to report higher revenues from the year-ago period's level. Despite this increase, the company is anticipated to see a lower bottom line due to rising costs.

Patterson-UTI anticipates second quarter Completion Services revenues of $860 million, with direct operating costs of $690 million and an adjusted gross profit of $170 million.

HOUSTON, TX / ACCESSWIRE / April 8, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) will host a conference call on Thursday, May 2, 2024, at 9:00 a.m.

Patterson-UTI (PTEN) plans to spend $740 million on capital expenditures in 2024. The company expects an effective tax rate of 24% and annual cash taxes of $35-$45 million for the year.

While the top- and bottom-line numbers for Patterson-UTI (PTEN) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.