Q2 25 EPS
$-0.13
MISS 249.46%
Est. $-0.04
Q2 25 Revenue
$1.22B
BEAT +0.94%
Est. $1.21B
vs S&P Since Q2 25
+33.9%
BEATING MARKET
PTEN +51.3% vs S&P +17.4%
Market Reaction
Did PTEN Beat Earnings? Q2 2025 Results
Patterson-UTI Energy delivered a bruising second quarter, posting a loss of $0.13 per diluted share on revenue of $1.22 billion as softer oil-directed drilling demand and a $28 million non-cash impairment charge tied to Colombian operations weighed h… Read more Patterson-UTI Energy delivered a bruising second quarter, posting a loss of $0.13 per diluted share on revenue of $1.22 billion as softer oil-directed drilling demand and a $28 million non-cash impairment charge tied to Colombian operations weighed heavily on results. The top line fell from $1.28 billion in Q1 2025 and $1.35 billion a year ago, with adjusted EBITDA sliding to $231.22 million from $323.74 million in the year-ago quarter, a clear signal of how far the oilfield services cycle has turned. U.S. Rig count averaged 104 in the quarter, with the Permian Basin accounting for the steepest declines, while Completion Services revenue of $719.33 million held up as fully utilized gas-powered fleets offset broader pressure. Management is eyeing a mid-90s rig count for Q3 but sees a more constructive setup on the horizon, with CEO Andy Hendricks pointing to a "physical call for higher U.S. LNG volumes" as a catalyst that could lift natural gas drilling activity heading into 2026. Free cash flow is expected to accelerate in the back half of 2025, with full-year net capex guided below $600 million.
Key Takeaways
- • Drilling Products achieved record U.S. revenue per U.S. industry rig and record Canada revenue per Canada industry rig
- • Emerald natural gas-powered and Tier IV dual fuel completion assets remained fully utilized
- • Directional drilling revenue higher sequentially driven by strong service quality and market penetration
- • Higher sequential revenue from drilling automation technologies in U.S. Contract Drilling
- • Growth in performance-based agreements with Drilling Products customers
PTEN YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
PTEN Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our second quarter activity was in line with the market, and at the same time we see opportunities with our operational footprint, technology portfolio, and financial position to improve our market position in both drilling and completions.”
— Andy Hendricks, Q2 2025 Earnings Press Release
PTEN Earnings Trends
PTEN vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PTEN EPS Trend
Earnings per share: estimate vs actual
PTEN Revenue Trend
Quarterly revenue: estimate vs actual
PTEN Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.10 | $-0.06 | +41.75% | $1.12B | +1.82% |
| Q4 25 BEAT FY | $-0.10 | $-0.02 | +80.77% | $1.15B | +4.23% |
| FY Full Year | $-0.31 | $-0.24 | +23.57% | $4.83B | +0.91% |
| Q3 25 BEAT | $-0.11 | $-0.10 | +11.11% | $1.18B | +0.43% |
| Q2 25 MISS | $-0.04 | $-0.13 | -249.46% | $1.22B | +0.94% |
| Q1 25 BEAT | $-0.04 | $0.00 | +100.00% | $1.28B | +8.60% |