Q1 26 EPS
$-0.06
BEAT +41.75%
Est. $-0.10
Q1 26 Revenue
$1.12B
BEAT +1.82%
Est. $1.10B
vs S&P Since Q1 26
+8.5%
BEATING MARKET
PTEN +16.5% vs S&P +8.0%
Market Reaction
Did PTEN Beat Earnings? Q1 2026 Results
Patterson-UTI Energy cleared a low bar in Q1 2026, posting results that beat on both the top and bottom lines even as the broader business continued to contract. The oilfield services company reported revenue of $1.12 billion, ahead of the $1.10 bill… Read more Patterson-UTI Energy cleared a low bar in Q1 2026, posting results that beat on both the top and bottom lines even as the broader business continued to contract. The oilfield services company reported revenue of $1.12 billion, ahead of the $1.10 billion consensus estimate by 1.82%, though that figure still represented a 12.8% decline from the year-ago quarter as a challenging commodity environment weighed on activity across all three segments. The loss per diluted share came in at $0.06, beating the $0.10 consensus estimate by 41.75%, helped in part by cost reduction measures implemented late in 2025 and discipline on capital spending, which fell to $116.63 million from $161.83 million a year earlier. Winter storms disrupted completion operations for roughly five days, yet near-full utilization of active equipment, particularly natural gas-powered fleets, cushioned the blow. Looking ahead, management struck a constructive tone, guiding Q2 Completion Services adjusted gross profit to approximately $105 million and signaling plans to reactivate drilling rigs in the second half, with price increase discussions already underway; the company also raised its quarterly dividend to $0.10 per share from $0.08.
Key Takeaways
- • Lower U.S. rig count and reduced completion activity versus year-ago quarter
- • Winter storm disruption of approximately 5 days across nearly the entire completion fleet
- • Cost reduction measures implemented in late 2025 provided full-quarter benefit
- • Early termination payments of approximately $3 million in Drilling Services
- • Geopolitical disruption in the Middle East impacting Drilling Products costs and activity
- • Near-full utilization of natural gas-powered completion equipment
- • Working capital headwinds of approximately $131 million reduced operating cash flow
PTEN YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
PTEN Revenue by Segment
With YoY comparisons, source: SEC Filings
“We delivered another quarter of solid operating results, as our businesses successfully navigated a challenging commodity environment to start the year. We are pleased with our performance given the macro backdrop earlier this year, with customers operating under budgets that were built around much lower oil price assumptions than what we see today. We continue to prioritize equipment and technology investments that improve demand for our drilling and completion businesses and help manage costs. We expect the benefits of these investments to build over time, particularly as U.S. land drilling and completion activity improves.”
— Andy Hendricks, Q1 2026 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
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $-0.03 | $0.00 | +100.00% | $1.23B | +6.39% |
| 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% |