Patterson-UTI Energy Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw strong operational execution and technology-driven performance, with revenue of $1.117B and adjusted EBITDA of $205M. Market conditions are improving, with higher U.S. shale activity expected and disciplined capital allocation focused on technology and shareholder returns.
Fiscal Year 2025
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Q4 2025 saw strong free cash flow, steady segment performance, and a 25% dividend increase, despite commodity volatility. Technology investments and international expansion support a positive outlook, with CapEx reduced and robust shareholder returns maintained.
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Q3 2025 saw resilient performance with $1.176B revenue, strong free cash flow, and continued investment in technology. Activity and margins held steady despite a challenging market, with disciplined capital allocation and a commitment to return at least 50% of free cash flow to shareholders.
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Q2 2025 featured resilient margins, strong cash flow, and robust adoption of digital and automation tech, despite oil market volatility and cautious customer activity. Guidance calls for steady Q3 performance and increased free cash flow in H2 2025.
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Q1 2025 delivered strong results across all segments, with $1.28B revenue and $1M net income. Activity is expected to remain steady, though slight profit declines are forecast for Q2 due to contract roll-offs and seasonal costs. Capital allocation remains flexible, with robust liquidity and a focus on shareholder returns.
Fiscal Year 2024
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Reported Q4 2024 revenue of $1.162B and a net loss of $52M, with strong free cash flow and significant capital returns to shareholders. 2025 guidance calls for steady drilling activity, reduced CapEx, and continued focus on integrated, value-based services and technology-driven efficiencies.
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Q3 saw strong free cash flow and continued integration benefits from recent M&A, despite a net loss driven by non-cash charges. Capital returns to shareholders remain robust, with steady rig activity and a focus on high-spec assets and technology upgrades into 2025.
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Q2 2024 saw strong free cash flow, robust shareholder returns, and successful integration of recent acquisitions. Growth is driven by power services, CNG, and integrated contracts, with a steady outlook for the rest of 2024 and upside in 2025 as natural gas demand rises.