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Patterson-UTI (PTEN) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended December 2024, Patterson-UTI (PTEN - Free Report) reported revenue of $1.16 billion, down 26.7% over the same period last year. EPS came in at -$0.12, compared to $0.19 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.21 billion, representing a surprise of -4.19%. The company delivered an EPS surprise of -20.00%, with the consensus EPS estimate being -$0.10.
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:
Average direct operating costs per operating day - U.S. $19.57 compared to the $19.45 average estimate based on three analysts.
Average adjusted gross profit per operating day - U.S. $15.72 versus $14.81 estimated by three analysts on average.
Revenues- Drilling Products: $86.52 million versus the five-analyst average estimate of $90.50 million. The reported number represents a year-over-year change of -1.8%.
Revenues- Completion Services: $650.85 million versus the five-analyst average estimate of $695.46 million. The reported number represents a year-over-year change of -35.8%.
Revenues- Other: $16.38 million compared to the $15.10 million average estimate based on five analysts.
Revenues- Drilling Services: $408.39 million versus the five-analyst average estimate of $395.16 million.
Income (loss) before income taxes- Other: $2.07 million versus the four-analyst average estimate of -$2.47 million.
Income (loss) before income taxes- Corporate: -$55.96 million versus the four-analyst average estimate of -$40.58 million.
Income (loss) before income taxes- Drilling Products: -$0.20 million compared to the $7.11 million average estimate based on four analysts.
Income (loss) before income taxes- Completion Services: -$50.23 million versus -$58.84 million estimated by four analysts on average.
Income (loss) before income taxes- Drilling Services: $72.99 million compared to the $58.11 million average estimate based on four analysts.
Shares of Patterson-UTI have returned +3.1% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Patterson-UTI (PTEN) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended December 2024, Patterson-UTI (PTEN - Free Report) reported revenue of $1.16 billion, down 26.7% over the same period last year. EPS came in at -$0.12, compared to $0.19 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.21 billion, representing a surprise of -4.19%. The company delivered an EPS surprise of -20.00%, with the consensus EPS estimate being -$0.10.
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:
- Average direct operating costs per operating day - U.S. $19.57 compared to the $19.45 average estimate based on three analysts.
- Average adjusted gross profit per operating day - U.S. $15.72 versus $14.81 estimated by three analysts on average.
- Revenues- Drilling Products: $86.52 million versus the five-analyst average estimate of $90.50 million. The reported number represents a year-over-year change of -1.8%.
- Revenues- Completion Services: $650.85 million versus the five-analyst average estimate of $695.46 million. The reported number represents a year-over-year change of -35.8%.
- Revenues- Other: $16.38 million compared to the $15.10 million average estimate based on five analysts.
- Revenues- Drilling Services: $408.39 million versus the five-analyst average estimate of $395.16 million.
- Income (loss) before income taxes- Other: $2.07 million versus the four-analyst average estimate of -$2.47 million.
- Income (loss) before income taxes- Corporate: -$55.96 million versus the four-analyst average estimate of -$40.58 million.
- Income (loss) before income taxes- Drilling Products: -$0.20 million compared to the $7.11 million average estimate based on four analysts.
- Income (loss) before income taxes- Completion Services: -$50.23 million versus -$58.84 million estimated by four analysts on average.
- Income (loss) before income taxes- Drilling Services: $72.99 million compared to the $58.11 million average estimate based on four analysts.
View all Key Company Metrics for Patterson-UTI here>>>Shares of Patterson-UTI have returned +3.1% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.