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Patterson-UTI Energy to Report Q1 Earnings: What's in Store?
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Key Takeaways
PTEN is set to report Q1 results with a projected loss of 10 cents per share on $1.08B revenues.
Patterson-UTI Energy may benefit from advanced Apex rigs, boosting efficiency and utilization rates.
PTEN faces revenue pressure from weaker segment performance and rising operating costs.
Patterson-UTI Energy, Inc. (PTEN - Free Report) is set to report first-quarter 2026 earnings on April 22. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a loss of 10 cents per share on revenues of $1.08 billion.
Let’s delve into the factors that might have influenced PTEN’s performance in the to-be-reported quarter. Before that, it’s worth taking a look at the company’s performance in the last reported quarter.
Highlights of PTEN’s Q4 Earnings & Surprise History
In the last reported quarter, the Houston, TX-based oil and gas drilling company’s earnings beat the consensus mark. Patterson-UTI Energy reported an adjusted net loss of 2 cents per share, narrower than the Zacks Consensus Estimate of an 11-cent loss. This was attributed to improvements in the company’s Completions Services segment, along with a reduction in operating costs and expenses. Total revenues of $1.2 billion also beat the Zacks Consensus Estimate by 5%.
PTEN’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the mark once, delivering an average surprise of 42.96%.
The Zacks Consensus Estimate for first-quarter 2026 earnings has not witnessed any upward or downward movements in the past seven days. With break-even earnings in the year-ago period, percentage comparison is not applicable. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a loss of 10 cents per share. The same for revenues indicates a decrease of 15.37% from the year-ago period.
Factors to Consider Ahead of PTEN’s Q1 Release
PTEN makes money by helping oil and gas companies find and extract oil and natural gas. The company does this by drilling wells, completing them and providing the tools needed for these processes.
On a positive note, PTEN is likely to have benefited from its position as one of the largest North American land drilling contractors, supported by a large and high-quality fleet of rigs in the to-be-reported quarter. The company’s technologically advanced Apex rigs are expected to have remained a key differentiator, as their proprietary design is likely to have enabled faster mobility, improved drilling efficiency and safer operations compared with conventional rigs.
These advantages are expected to have aligned well with evolving exploration demands, which is likely to have supported higher day rates and stronger utilization relative to peers. Additionally, the company’s significant exposure to North America is expected to have positioned it favorably amid improving U.S. land drilling activity, tightening supply-demand dynamics and continued pricing momentum.
PTEN is also expected to have been well-positioned for a potential increase in natural gas-focused activity, driven by rising LNG exports and growing demand from power generation. With natural gas-capable completion equipment likely to remain highly utilized, any incremental activity in gas-focused basins is expected to require additional capacity. This is likely to have supported an inflection in pricing for high-spec services.
On the bearish side, PTEN’s revenues are likely to have come under pressure in the quarter to be reported. The Zacks Consensus Estimate for first-quarter revenues is expected to be down from the year-ago quarter’s $977.5 million. The decline is likely to have reflected weaker year-over-year performance across the company’s Drilling Services, Completion Services, Drilling Products and Other segments. The appreciation in PTEN's costs is likely to have hurt its bottom line. The company’s operating costs and expenses are projected to reach $1,105.3 million in the first quarter, which is 12.5% up from the year-ago period’s level.
What Does Our Model Say About PTEN Stock?
Our proven model predicts an earnings beat for Patterson-UTI Energy this time. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. This is exactly the case here.
PTEN’s Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is +11.11%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
PTEN’s Zacks Rank: Patterson-UTI Energy currently carries a Zacks Rank #1.
Other Stocks to Consider
Here are some other firms from the energy space that you may want to consider, as these, too, have the right combination of elements to post an earnings beat this reporting cycle.
The firm is scheduled to release earnings on April 29. Antero Resources is an independent exploration and production company focused on natural gas and natural gas liquids in the Appalachian Basin. Notably, the Zacks Consensus Estimate for Antero Resources’ 2026 earnings per share indicates 20.76% year-over-year growth. Valued at around $11.32 billion, Antero Resources’ shares have risen 14.4% in a year.
PBF Energy Inc. (PBF - Free Report) has an Earnings ESP of +5.38% and a Zacks Rank #3. The firm is scheduled to release earnings on April 30. PBF Energy is a downstream energy company that operates refineries and produces transportation fuels, heating oil and other petroleum products.
Notably, the Zacks Consensus Estimate for PBF Energy’s 2026 earnings per share indicates 209.69% year-over-year growth. Valued at around $4.35 billion, PBF Energy has gained 141.5% in a year.
Valero Energy Corporation (VLO - Free Report) has an Earnings ESP of +3.48% and a Zacks Rank #3. The firm is scheduled to release earnings on April 30. Valero Energy is a leading international manufacturer and marketer of transportation fuels, petrochemical products and renewable diesel.
Notably, the Zacks Consensus Estimate for Valero Energy’s 2026 earnings per share indicates 73.04% year-over-year growth. Valued at around $66.88 billion, Valero Energy has gained 105.5% in a year.
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Patterson-UTI Energy to Report Q1 Earnings: What's in Store?
Key Takeaways
Patterson-UTI Energy, Inc. (PTEN - Free Report) is set to report first-quarter 2026 earnings on April 22. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a loss of 10 cents per share on revenues of $1.08 billion.
Let’s delve into the factors that might have influenced PTEN’s performance in the to-be-reported quarter. Before that, it’s worth taking a look at the company’s performance in the last reported quarter.
Highlights of PTEN’s Q4 Earnings & Surprise History
In the last reported quarter, the Houston, TX-based oil and gas drilling company’s earnings beat the consensus mark. Patterson-UTI Energy reported an adjusted net loss of 2 cents per share, narrower than the Zacks Consensus Estimate of an 11-cent loss. This was attributed to improvements in the company’s Completions Services segment, along with a reduction in operating costs and expenses. Total revenues of $1.2 billion also beat the Zacks Consensus Estimate by 5%.
PTEN’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the mark once, delivering an average surprise of 42.96%.
This is depicted in the graph below:
Patterson-UTI Energy, Inc. Price and EPS Surprise
Patterson-UTI Energy, Inc. price-eps-surprise | Patterson-UTI Energy, Inc. Quote
Trend in PTEN’s Estimate Revision
The Zacks Consensus Estimate for first-quarter 2026 earnings has not witnessed any upward or downward movements in the past seven days. With break-even earnings in the year-ago period, percentage comparison is not applicable. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a loss of 10 cents per share. The same for revenues indicates a decrease of 15.37% from the year-ago period.
Factors to Consider Ahead of PTEN’s Q1 Release
PTEN makes money by helping oil and gas companies find and extract oil and natural gas. The company does this by drilling wells, completing them and providing the tools needed for these processes.
On a positive note, PTEN is likely to have benefited from its position as one of the largest North American land drilling contractors, supported by a large and high-quality fleet of rigs in the to-be-reported quarter. The company’s technologically advanced Apex rigs are expected to have remained a key differentiator, as their proprietary design is likely to have enabled faster mobility, improved drilling efficiency and safer operations compared with conventional rigs.
These advantages are expected to have aligned well with evolving exploration demands, which is likely to have supported higher day rates and stronger utilization relative to peers. Additionally, the company’s significant exposure to North America is expected to have positioned it favorably amid improving U.S. land drilling activity, tightening supply-demand dynamics and continued pricing momentum.
PTEN is also expected to have been well-positioned for a potential increase in natural gas-focused activity, driven by rising LNG exports and growing demand from power generation. With natural gas-capable completion equipment likely to remain highly utilized, any incremental activity in gas-focused basins is expected to require additional capacity. This is likely to have supported an inflection in pricing for high-spec services.
On the bearish side, PTEN’s revenues are likely to have come under pressure in the quarter to be reported. The Zacks Consensus Estimate for first-quarter revenues is expected to be down from the year-ago quarter’s $977.5 million. The decline is likely to have reflected weaker year-over-year performance across the company’s Drilling Services, Completion Services, Drilling Products and Other segments. The appreciation in PTEN's costs is likely to have hurt its bottom line. The company’s operating costs and expenses are projected to reach $1,105.3 million in the first quarter, which is 12.5% up from the year-ago period’s level.
What Does Our Model Say About PTEN Stock?
Our proven model predicts an earnings beat for Patterson-UTI Energy this time. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. This is exactly the case here.
PTEN’s Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is +11.11%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
PTEN’s Zacks Rank: Patterson-UTI Energy currently carries a Zacks Rank #1.
Other Stocks to Consider
Here are some other firms from the energy space that you may want to consider, as these, too, have the right combination of elements to post an earnings beat this reporting cycle.
Antero Resources Corporation (AR - Free Report) has an Earnings ESP of +5.46% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The firm is scheduled to release earnings on April 29. Antero Resources is an independent exploration and production company focused on natural gas and natural gas liquids in the Appalachian Basin. Notably, the Zacks Consensus Estimate for Antero Resources’ 2026 earnings per share indicates 20.76% year-over-year growth. Valued at around $11.32 billion, Antero Resources’ shares have risen 14.4% in a year.
PBF Energy Inc. (PBF - Free Report) has an Earnings ESP of +5.38% and a Zacks Rank #3. The firm is scheduled to release earnings on April 30. PBF Energy is a downstream energy company that operates refineries and produces transportation fuels, heating oil and other petroleum products.
Notably, the Zacks Consensus Estimate for PBF Energy’s 2026 earnings per share indicates 209.69% year-over-year growth. Valued at around $4.35 billion, PBF Energy has gained 141.5% in a year.
Valero Energy Corporation (VLO - Free Report) has an Earnings ESP of +3.48% and a Zacks Rank #3. The firm is scheduled to release earnings on April 30. Valero Energy is a leading international manufacturer and marketer of transportation fuels, petrochemical products and renewable diesel.
Notably, the Zacks Consensus Estimate for Valero Energy’s 2026 earnings per share indicates 73.04% year-over-year growth. Valued at around $66.88 billion, Valero Energy has gained 105.5% in a year.