Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is set to announce third quarter earning results on Thursday 22nd October 2020, before market open.
Analysts surveyed by Thomson Reuters are predicting, PTEN to report 3Q20 loss of $ 0.62 per share.
For the full year, analysts anticipate top line of $ 1088.98 million, while looking forward to loss of $ 2.24 per share bottom line.
Previous Quarter Performance
Patterson-UTI Energy, Inc. revealed loss for the second quarter of $ 0.56 per share, from the revenue of $ 250.38 million. The quarterly revenues contracted 62.66 percent compared with the same quarter last year. The consensus estimates are loss of $ 0.58 per share from $ 239.84 million in revenue. The bottom line results beat street analysts by $ 0.02 or 3.45 percent, at the same time, top line results outshined analysts by $ 10.54 million or 4.39 percent.
Stock Performance
Shares of Patterson-UTI Energy, Inc. traded low $ -0.06 or -2.05 percent on Wednesday, reaching $ 2.63 with volume of 982.00 thousand shares. The stock opened down for the day at $ 2.66, after closing the previous day trading at $ 2.68.
According to the previous trading day, closing price of $ 2.68, representing a 66.46 % increase from the 52 week low of $ 1.61 and a 75.53 % decrease over the 52 week high of $ 10.95.
The company has a market capital of $ 498.10 million and is part of the Energy sector and Oil & Gas Drilling industry.
Conference Call
Patterson-UTI Energy, Inc. will be hosting a conference call at 10:00 AM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.patenergy.com
Patterson-UTI Energy, Inc., through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators in the United States and Canada. It operates through three segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling segment markets its contract drilling services primarily in west Texas and southeastern New Mexico, north central and east Texas, northern Louisiana, Colorado, Wyoming, North Dakota, south Texas, western Oklahoma, Pennsylvania, Ohio, West Virginia, and western Canada.
