Jun 2026 (Q2 FY26) — Jul 30, 2026
Patterson-UTI Q2 FY26 — Strong Activity Inflection and Pricing Recovery
Read the full callPatterson UTI Energy (PTEN) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Patterson UTI Energy earnings: last reported Thu, 30 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,228 | +0.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | -0.6 | +1.9 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -19.6 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
What management said, and what became of it
28 of 36 judged targets kept · 11 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Completion Services segment adjusted gross profit -- Q2 FY26 | approximately $105 million | Mar 2026 | In our Completion Services segment, second quarter revenue was $754 million and adjusted gross profit was $123 million | Achieved |
| Full-year capital expenditures (2026 budget) | lower capital expenditures compared to 2025 | Sep 2025 | we expect 2026 capital expenditures net of proceeds from asset sales to be approximately $600 million | Revised Down |
| Drilling Products segment adjusted gross profit -- Q1 FY26 | improve slightly, with slightly lower revenue in the U.S. offset by an increase in activity and revenue from our international business | Dec 2025 | Results reflected disruption in the Middle East related to the ongoing conflict and some cost inflation. | Missed |
8 of PATTERSON UTI ENERGY INC's 47 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 44 more targets are in the full ledger.
Claimed
- Total reported revenue increased 10% sequentially to $1.228 billion.
- Drilling Services rig count averaged 92 operating rigs, with new contract pricing increasing 10% to 15% versus Q1 levels.
- Completion Services adjusted gross profit reached $123 million, driven by largely full frac calendars and improved pricing.
- Drilling Products achieved its highest revenue since 2023 at $91 million, with record international revenue and a 14% sequential increase.
- Adjusted free cash flow is expected to more than cover 2026 dividend payments, with meaningful improvement anticipated in 2027.
Qualified
- Reported a net loss attributable to common shareholders of $20 million or $0.05 per share, including noncash charges.
- Working capital was a use of cash during the first half of the year, exacerbated by the pace of activity increase.
- Exited contract drilling operations in Colombia, incurring $21 million in noncash charges.
- Conflict in the Middle East created disruption across logistics, supply chain, and activity levels for Drilling Products.
- Tungsten prices have increased, impacting drill bit manufacturing costs.
Price
$11.31 −1.99% · −$0.23
Performance +99.1% 1Y
1Y: $5.68 on 14 Oct 2025 → $11.31. High $13.15 (2 Sept 2026), low $5.41 (20 Nov 2025).
- Previous close
- $11.54
- 52-week range
- $5.41 – $13.15
- One year
- +97.38%
Overview
- Symbol
- PTEN
- Sector
- Energy
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
28 of 36 judged targets kept · 11 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Completion Services segment adjusted gross profit -- Q2 FY26 | approximately $105 million | Mar 2026 | In our Completion Services segment, second quarter revenue was $754 million and adjusted gross profit was $123 million | Achieved |
| Full-year capital expenditures (2026 budget) | lower capital expenditures compared to 2025 | Sep 2025 | we expect 2026 capital expenditures net of proceeds from asset sales to be approximately $600 million | Revised Down |
| Drilling Products segment adjusted gross profit -- Q1 FY26 | improve slightly, with slightly lower revenue in the U.S. offset by an increase in activity and revenue from our international business | Dec 2025 | Results reflected disruption in the Middle East related to the ongoing conflict and some cost inflation. | Missed |
Claimed
- Total reported revenue increased 10% sequentially to $1.228 billion.
- Drilling Services rig count averaged 92 operating rigs, with new contract pricing increasing 10% to 15% versus Q1 levels.
- Completion Services adjusted gross profit reached $123 million, driven by largely full frac calendars and improved pricing.
- Drilling Products achieved its highest revenue since 2023 at $91 million, with record international revenue and a 14% sequential increase.
- Adjusted free cash flow is expected to more than cover 2026 dividend payments, with meaningful improvement anticipated in 2027.
Qualified
- Reported a net loss attributable to common shareholders of $20 million or $0.05 per share, including noncash charges.
- Working capital was a use of cash during the first half of the year, exacerbated by the pace of activity increase.
- Exited contract drilling operations in Colombia, incurring $21 million in noncash charges.
- Conflict in the Middle East created disruption across logistics, supply chain, and activity levels for Drilling Products.
- Tungsten prices have increased, impacting drill bit manufacturing costs.
The full ledger
Open PATTERSON UTI ENERGY INC’s full ledger
A free account opens 5 company ledgers a month. All 47 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 23, 2026
Patterson-UTI Q1 FY26 — U.S. Shale Activity Inflection and Frac Market Tightness
Read the full callEvery analysed call
Patterson UTI Energy earnings calls (PTEN)
Financials
What the filings say
Net profit, year on year: +60% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,357 | 1,162 | 1,281 | 1,219 | 1,176 | 1,151 | 1,117 | 1,228 |
| Expenses | 2,348 | 1,193 | 1,264 | 1,249 | 1,204 | 1,151 | 1,132 | 1,235 |
| Operating profit | -991 | -31 | 17 | -29 | -28 | -0 | -14 | -7 |
| Operating margin | −73.0% | −2.7% | 1.3% | −2.4% | −2.4% | −0.0% | −1.3% | −0.6% |
| Other income | -18 | -18 | -14 | -18 | -15 | -15 | -14 | -21 |
| Interest | 18 | 18 | 18 | 18 | 17 | 18 | 17 | 20 |
| Profit before tax | -1,009 | -49 | 3 | -48 | -43 | -15 | -28 | -28 |
| Tax rate | 3.0% | −3.9% | 51.9% | −2.5% | 15.3% | 39.2% | 12.8% | 31.0% |
| Net profit | -979 | -52 | 1 | -49 | -36 | -9 | -25 | -20 |
| EPS ($ per share) | -2.50 | — | 0 | -0.13 | -0.10 | — | -0.06 | -0.05 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 3 | 3 | 3 | 3 | 3 | 5 | 5 | 5 |
| Reserves | 1,754 | 1,295 | 472 | -198 | -87 | 57 | -1,039 | -1,258 |
| Total liabilities | 1,964 | 1,606 | 1,283 | 1,348 | 1,478 | 2,599 | 2,358 | 2,346 |
| Fixed assets | 4,003 | 3,307 | 2,761 | 2,332 | 2,261 | 3,340 | 3,010 | 2,711 |
| Total assets | 5,470 | 4,440 | 3,299 | 2,958 | 3,144 | 7,420 | 5,833 | 5,570 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 731 | 696 | 279 | 95 | 566 | 1,006 | 1,176 | 961 |
| Cash from investing | -585 | -302 | -125 | -132 | -413 | -1,018 | -655 | -567 |
| Cash from financing | 57 | -465 | -103 | -72 | -133 | 66 | -475 | -211 |
| Net cash flow | 202 | -71 | 51 | -107 | 20 | 55 | 49 | 179 |
| Capital expenditure | -641 | -348 | -145 | -166 | -437 | -616 | -678 | -589 |
| Free cash flow | 89 | 349 | 133 | -71 | 129 | 390 | 497 | 372 |
PTEN revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Completions Services | — | — | 61% | 59% | 60% | 61% | 61% | 62% | +4.8% |
| Drilling Services | 31% | 37% | 33% | 33% | 32% | 31% | 32% | 31% | -7.5% |
| Drilling Products Member | — | — | 7% | 7% | 7% | — | 7% | 8% | +3.3% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
PTEN operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Operating days US contract drilling | 8,301In US contract drilling, we totaled 8,301 operating days in the quarter, with an average operating rig count of 92 rigs.Source: earnings call transcript | 8,361In US contract drilling, we recorded 8,361 operating days during the quarter and averaged 92 operating rigs.Source: earnings call transcript | +0.7% |
| Average operating rig count US contract drilling | 92In US contract drilling, we totaled 8,301 operating days in the quarter, with an average operating rig count of 92 rigs.Source: earnings call transcript | 92In US contract drilling, we recorded 8,361 operating days during the quarter and averaged 92 operating rigs.Source: earnings call transcript | 0% |
| Capital expenditures Drilling Services | $54MDuring the first quarter, total CapEx was $117 million, including $54 million in drilling services, $45 million in completion services, $16 million in drilling products and $1 million in other in corporate.Source: earnings call transcript | $60MThat amount included $60 million in drilling services, $75 million in completion services, $19 million in Drilling Products and $2 million in other and corporate.Source: earnings call transcript | +11.1% |
| Capital expenditures Completion Services | $45MDuring the first quarter, total CapEx was $117 million, including $54 million in drilling services, $45 million in completion services, $16 million in drilling products and $1 million in other in corporate.Source: earnings call transcript | $75MThat amount included $60 million in drilling services, $75 million in completion services, $19 million in Drilling Products and $2 million in other and corporate.Source: earnings call transcript | +66.7% |
| Capital expenditures Drilling Products | $16MDuring the first quarter, total CapEx was $117 million, including $54 million in drilling services, $45 million in completion services, $16 million in drilling products and $1 million in other in corporate.Source: earnings call transcript | $19MThat amount included $60 million in drilling services, $75 million in completion services, $19 million in Drilling Products and $2 million in other and corporate.Source: earnings call transcript | +18.8% |
| Capital expenditures Other and corporate | $1MDuring the first quarter, total CapEx was $117 million, including $54 million in drilling services, $45 million in completion services, $16 million in drilling products and $1 million in other in corporate.Source: earnings call transcript | $2MThat amount included $60 million in drilling services, $75 million in completion services, $19 million in Drilling Products and $2 million in other and corporate.Source: earnings call transcript | +100% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
59 filings between Dec 17, 2025 and Sep 18, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$33.89M
18 sales by 8 insiders
6% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 15
- Award — granted as compensation
- 5
- Option exercise — converted options into shares
- 16
- Tax withheld — shares kept back by the company to cover tax
Also filed: 5 dispositions to the issuer.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Drummond Robert Wayne Jr | — | $12.14M | Sep 2, 2026 |
| Hendricks William Andrew JR | — | $11.50M | Sep 18, 2026 |
| STEWART JAMES CARL | — | $6.60M | Aug 25, 2026 |
| Holcomb James Michael | — | $1.72M | May 28, 2026 |
| Wexler Seth David | — | $1.53M | Sep 1, 2026 |
| Robinson Forrest C | — | $164.2K | Jun 8, 2026 |
| Jaime Cesar | — | $122.9K | May 5, 2026 |
| CEPAK TIFFANY THOM | — | $106.3K | Mar 4, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 18, 2026 | Hendricks William Andrew JR President & CEO | Sale 10b5-1 plan | 250,000 | $2.98M |
| Sep 2, 2026 | Drummond Robert Wayne Jr Director | Sale | 198,395 | $2.55M |
| Sep 2, 2026 | Hendricks William Andrew JR President & CEO | Sale | 250,000 | $3.23M |
| Sep 1, 2026 | Drummond Robert Wayne Jr Director | Sale | 1,605 | $20.6K |
| Sep 1, 2026 | Wexler Seth David EVP, General Counsel&Secretary | Sale | 120,000 | $1.53M |
| Aug 25, 2026 | STEWART JAMES CARL Director | Sale | 207,000 | $2.39M |
| Jun 9, 2026 | Robinson Forrest C Chief Accounting Officer | Award | 20,833 | $0 |
| Jun 9, 2026 | Robinson Forrest C Chief Accounting Officer | Tax withheld | 5,749 | $68.4K |
| Jun 8, 2026 | Robinson Forrest C Chief Accounting Officer | Sale | 13,670 | $164.2K |
| Jun 5, 2026 | Hendricks William Andrew JR President & CEO | Sale | 200,000 | $2.33M |
| May 28, 2026 | Holcomb James Michael EVP & Chief Operating Officer | Sale | 150,000 | $1.72M |
| May 9, 2026 | Holcomb James Michael EVP & Chief Operating Officer | Tax withheld | 12,395 | $141.6K |
| May 9, 2026 | Hendricks William Andrew JR President & CEO | Tax withheld | 48,952 | $559.0K |
| May 9, 2026 | BERNS KENNETH N Executive Vice President | Tax withheld | 12,096 | $138.1K |
| May 9, 2026 | Smith Charles Andrew EVP & Chief Financial Officer | Tax withheld | 13,016 | $148.6K |
| May 9, 2026 | Wexler Seth David EVP, General Counsel&Secretary | Tax withheld | 10,363 | $118.3K |
| May 5, 2026 | Smith Charles Andrew EVP & Chief Financial Officer | Tax withheld | 11,943 | $146.8K |
| May 5, 2026 | Wexler Seth David EVP/General Counsel/Secretary | Tax withheld | 8,185 | $100.6K |
| May 5, 2026 | BERNS KENNETH N Executive Vice President | Tax withheld | 12,680 | $155.8K |
| May 5, 2026 | Jaime Cesar Director | Sale | 10,000 | $122.9K |
| May 5, 2026 | Holcomb James Michael EVP & Chief Operating Officer | Tax withheld | 9,741 | $119.7K |
| May 5, 2026 | Hendricks William Andrew JR President & CEO | Tax withheld | 31,677 | $389.3K |
| May 4, 2026 | Drummond Robert Wayne Jr Director | Sale | 61,475 | $738.9K |
| May 1, 2026 | Hendricks William Andrew JR President & CEO | Option exercise | 97,333 | — |
| May 1, 2026 | BERNS KENNETH N Executive Vice President | Tax withheld | 11,157 | $136.3K |
| May 1, 2026 | BERNS KENNETH N Executive Vice President | Option exercise | 20,033 | — |
| May 1, 2026 | BERNS KENNETH N Executive Vice President | Disposition to issuer | 20,033 | $216.4K |
| May 1, 2026 | Smith Charles Andrew EVP & Chief Financial Officer | Tax withheld | 14,357 | $175.4K |
| May 1, 2026 | Smith Charles Andrew EVP & Chief Financial Officer | Option exercise | 24,033 | — |
| May 1, 2026 | Smith Charles Andrew EVP & Chief Financial Officer | Disposition to issuer | 24,033 | $259.6K |
| May 1, 2026 | Wexler Seth David EVP/General Counsel/Secretary | Tax withheld | 11,438 | $139.8K |
| May 1, 2026 | Wexler Seth David EVP/General Counsel/Secretary | Option exercise | 20,600 | — |
| May 1, 2026 | Wexler Seth David EVP/General Counsel/Secretary | Disposition to issuer | 20,600 | $222.5K |
| May 1, 2026 | Holcomb James Michael EVP & Chief Business Officer | Tax withheld | 13,665 | $167.0K |
| May 1, 2026 | Holcomb James Michael EVP & Chief Business Officer | Option exercise | 22,900 | — |
| May 1, 2026 | Holcomb James Michael EVP & Chief Business Officer | Disposition to issuer | 22,900 | $247.3K |
| May 1, 2026 | Hendricks William Andrew JR President & CEO | Tax withheld | 53,989 | $659.7K |
| May 1, 2026 | Hendricks William Andrew JR President & CEO | Disposition to issuer | 97,333 | $1.05M |
| May 1, 2026 | Hendricks William Andrew JR President & CEO | Sale | 250,000 | $2.96M |
| May 1, 2026 | Drummond Robert Wayne Jr Director | Sale | 322,699 | $3.89M |
| Apr 30, 2026 | BERNS KENNETH N Executive Vice President | Award | 47,900 | $0 |
| Apr 30, 2026 | Holcomb James Michael EVP & Chief Business Officer | Award | 54,800 | $0 |
| Apr 30, 2026 | Wexler Seth David EVP/General Counsel/Secretary | Award | 49,300 | $0 |
| Apr 30, 2026 | Smith Charles Andrew EVP & Chief Financial Officer | Award | 57,500 | $0 |
| Apr 30, 2026 | Hendricks William Andrew JR President & CEO | Award | 232,900 | $0 |
| Mar 16, 2026 | Drummond Robert Wayne Jr Director | Sale | 164,775 | $1.68M |
| Mar 4, 2026 | CEPAK TIFFANY THOM Director | Sale | 12,000 | $106.3K |
| Feb 13, 2026 | Drummond Robert Wayne Jr Director | Sale | 400,000 | $3.27M |
| Jan 1, 2026 | HUFF CURTIS W Director | Award | 40,098 | $0 |
| Jan 1, 2026 | Nelson Amy H Director | Award | 28,641 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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