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Patterson-UTI (PTEN) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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Patterson-UTI (PTEN - Free Report) reported $1.58 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 100.9%. EPS of $0.19 for the same period compares to $0.46 a year ago.
The reported revenue represents a surprise of +5.58% over the Zacks Consensus Estimate of $1.5 billion. With the consensus EPS estimate being $0.18, the EPS surprise was +5.56%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Patterson-UTI performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Operating revenues- Completion Services: $1.01 billion versus the five-analyst average estimate of $948.71 million.
Operating revenues- Drilling Products: $88.11 million versus the five-analyst average estimate of $89.77 million.
Income (loss) before income taxes- Drilling Services: $92.68 million versus $87.59 million estimated by two analysts on average.
Income (loss) before income taxes- Drilling Products: -$0.26 million compared to the -$32.96 million average estimate based on two analysts.
Income (loss) before income taxes- Completion Services: $70.32 million versus $69.32 million estimated by two analysts on average.
Shares of Patterson-UTI have returned +2.9% over the past month versus the Zacks S&P 500 composite's +3.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Patterson-UTI (PTEN) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
Patterson-UTI (PTEN - Free Report) reported $1.58 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 100.9%. EPS of $0.19 for the same period compares to $0.46 a year ago.
The reported revenue represents a surprise of +5.58% over the Zacks Consensus Estimate of $1.5 billion. With the consensus EPS estimate being $0.18, the EPS surprise was +5.56%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Patterson-UTI performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Operating revenues- Completion Services: $1.01 billion versus the five-analyst average estimate of $948.71 million.
- Operating revenues- Drilling Products: $88.11 million versus the five-analyst average estimate of $89.77 million.
- Income (loss) before income taxes- Drilling Services: $92.68 million versus $87.59 million estimated by two analysts on average.
- Income (loss) before income taxes- Drilling Products: -$0.26 million compared to the -$32.96 million average estimate based on two analysts.
- Income (loss) before income taxes- Completion Services: $70.32 million versus $69.32 million estimated by two analysts on average.
View all Key Company Metrics for Patterson-UTI here>>>Shares of Patterson-UTI have returned +2.9% over the past month versus the Zacks S&P 500 composite's +3.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.