Patterson-UTI Energy Reports Financial Results for the Three Months Ended March 31, 2020
Patterson-UTI Energy, Inc. (PTEN)
Last patterson-uti energy, inc. earnings: 4/23 06:01 am
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patenergy.com
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Source: PR Newswire
HOUSTON, April 23, 2020 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported financial results for the three months ended March 31, 2020. The Company reported a net loss of $435 million, or $2.28 per share, for the first quarter of 2020, compared to a net loss of $28.6 million, or $0.14 per share, for the first quarter of 2019. Revenues for the first quarter of 2020 were $446 million, compared to $704 million for the first quarter of 2019.Financial results for the three months ended March 31, 2020 include pre-tax, non-cash charges totaling $406 million ($349 million after-tax or $1.83 per share). These charges include a $395 million impairment charge for the remaining goodwill on the Company's balance sheet and a $10.6 million impairment charge related to certain of the Company's E&P assets.Andy Hendricks, Patterson-UTI's Chief Executive Officer, stated, "In response to the rapid decline in commodity prices, E&P companies acted swiftly to reduce drilling and com
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News
- Patterson-UTI Energy, Inc. (NASDAQ: PTEN) had its price target lowered by analysts at Bank of America Co. from $14.50 to $14.00. They now have a "buy" rating on the stock.MarketBeat
- Patterson-UTI Energy Announces First Quarter Earnings Conference Call and WebcastAccesswire
- Patterson-UTI Energy, Inc. (NASDAQ: PTEN) had its "positive" rating re-affirmed by analysts at Susquehanna. They now have a $16.00 price target on the stock.MarketBeat
- Top buy-rated stocks and sell-rated stocks within Energy - Citi [Seeking Alpha]Seeking Alpha
- Patterson-UTI Reports Drilling Activity for March 2024Accesswire
PTEN
Earnings
- 2/14/24 - Beat
PTEN
Sec Filings
- 4/11/24 - Form ARS
- 4/11/24 - Form DEFA14A
- 4/11/24 - Form DEF
- PTEN's page on the SEC website