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Why Is Patterson-UTI (PTEN) Up 24.5% Since Last Earnings Report?
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It has been about a month since the last earnings report for Patterson-UTI (PTEN - Free Report) . Shares have added about 24.5% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Patterson-UTI due for a pullback? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent drivers for Patterson-UTI Energy, Inc. before we dive into how investors and analysts have reacted as of late.
Patterson-UTI Energy Q2 Earnings & Revenues Beat Estimates
Patterson-UTI Energy (PTEN - Free Report) reported second-quarter 2026 adjusted earnings of break-even, outperforming the Zacks Consensus Estimate of a loss of 3 cents per share. The bottom line improved from the year-ago quarter's adjusted loss of 6 cents, primarily due to stronger performance in its Completion Services segment and year-over-year improvement in the Drilling Products and Other operations.
Houston, TX-based oil and gas drilling company’s total revenues of $1.23 billion beat the Zacks Consensus Estimate of $1.15 billion by 7%. The top line also increased about 0.7% year over year, driven by improved activity and pricing in the Completion Services segment, along with higher revenues from Drilling Products and Other operations.
PTEN’s board of directors declared a quarterly dividend of 10 cents per share, payable on Sept. 15, 2026, to shareholders of record as of Sept. 1.
PTEN’s Q2 Segmental Performances
Drilling Services: Revenues in this segment totaled $373.5 million, down 7.5% from the year-ago quarter's $403.8 million, but beat our estimate of $350.7 million.
Operating income declined to $22.7 million from $40.6 million a year ago, primarily due to a non-cash charge related to the Colombia exit. The reported figure also missed our operating income estimate of $41.1 million.
Completion Services: Segment revenues increased 4.8% year over year to $753.6 million from $719.3 million and beat our estimate of $659.1 million.
Operating income totaled $8.2 million against an operating loss of $29.2 million in the prior-year quarter. This improvement was driven by high pressure pumping utilization, better pricing and continued growth in integrated completion services. The reported figure beat our expectation of an operating loss of $17.6 million.
Drilling Products: Revenues increased 3.3% year over year to $91.3 million from $88.4 million and beat our estimate of $80.4 million.
Operating income improved to $8.3 million from $6.8 million in the year-ago quarter. Record international revenues and stronger U.S. revenue per industry rig offset disruptions in the Middle East and seasonal weakness in Canada. However, the reported operating income beat our estimate of $2.7 million.
Other: Revenues amounted to $9.5 million, up 21.8% from the year-ago quarter’s $7.8 million and beat our estimate of $7.7 million.
Operating income improved to $5.1 million from a loss of $2 million in the second quarter of 2025, aided by higher oil prices. The reported figure beat our operating income estimate of $2.3 million.
PTEN’s Capital Expenditure & Financial Position
In the reported quarter, PTEN spent $155.9 million on capital programs compared with $144.2 million in the prior-year period. As of June 30, 2026, this company had cash and cash equivalents of $203.2 million and long-term debt of $1.23 billion. Its debt-to-capitalization was 28.5%.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a upward trend in estimates revision.
The consensus estimate has shifted 96.88% due to these changes.
VGM Scores
At this time, Patterson-UTI has a nice Growth Score of B, however its Momentum Score is doing a bit better with an A. Charting a somewhat similar path, the stock has a score of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Patterson-UTI has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Patterson-UTI belongs to the Zacks Oil and Gas - Drilling industry. Another stock from the same industry, Noble Corporation PLC (NE - Free Report) , has gained 12.8% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.
Noble Corporation PLC reported revenues of $719.69 million in the last reported quarter, representing a year-over-year change of -15.2%. EPS of $0.01 for the same period compares with $0.13 a year ago.
Noble Corporation PLC is expected to post earnings of $0.13 per share for the current quarter, representing a year-over-year change of -31.6%. Over the last 30 days, the Zacks Consensus Estimate has changed -45.7%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #4 (Sell) for Noble Corporation PLC. Also, the stock has a VGM Score of D.
View the Zacks #1 Rank List
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Why Is Patterson-UTI (PTEN) Up 24.5% Since Last Earnings Report?
It has been about a month since the last earnings report for Patterson-UTI (PTEN - Free Report) . Shares have added about 24.5% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Patterson-UTI due for a pullback? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent drivers for Patterson-UTI Energy, Inc. before we dive into how investors and analysts have reacted as of late.
Patterson-UTI Energy Q2 Earnings & Revenues Beat Estimates
Patterson-UTI Energy (PTEN - Free Report) reported second-quarter 2026 adjusted earnings of break-even, outperforming the Zacks Consensus Estimate of a loss of 3 cents per share. The bottom line improved from the year-ago quarter's adjusted loss of 6 cents, primarily due to stronger performance in its Completion Services segment and year-over-year improvement in the Drilling Products and Other operations.
Houston, TX-based oil and gas drilling company’s total revenues of $1.23 billion beat the Zacks Consensus Estimate of $1.15 billion by 7%. The top line also increased about 0.7% year over year, driven by improved activity and pricing in the Completion Services segment, along with higher revenues from Drilling Products and Other operations.
PTEN’s board of directors declared a quarterly dividend of 10 cents per share, payable on Sept. 15, 2026, to shareholders of record as of Sept. 1.
PTEN’s Q2 Segmental Performances
Drilling Services: Revenues in this segment totaled $373.5 million, down 7.5% from the year-ago quarter's $403.8 million, but beat our estimate of $350.7 million.
Operating income declined to $22.7 million from $40.6 million a year ago, primarily due to a non-cash charge related to the Colombia exit. The reported figure also missed our operating income estimate of $41.1 million.
Completion Services: Segment revenues increased 4.8% year over year to $753.6 million from $719.3 million and beat our estimate of $659.1 million.
Operating income totaled $8.2 million against an operating loss of $29.2 million in the prior-year quarter. This improvement was driven by high pressure pumping utilization, better pricing and continued growth in integrated completion services. The reported figure beat our expectation of an operating loss of $17.6 million.
Drilling Products: Revenues increased 3.3% year over year to $91.3 million from $88.4 million and beat our estimate of $80.4 million.
Operating income improved to $8.3 million from $6.8 million in the year-ago quarter. Record international revenues and stronger U.S. revenue per industry rig offset disruptions in the Middle East and seasonal weakness in Canada. However, the reported operating income beat our estimate of $2.7 million.
Other: Revenues amounted to $9.5 million, up 21.8% from the year-ago quarter’s $7.8 million and beat our estimate of $7.7 million.
Operating income improved to $5.1 million from a loss of $2 million in the second quarter of 2025, aided by higher oil prices. The reported figure beat our operating income estimate of $2.3 million.
PTEN’s Capital Expenditure & Financial Position
In the reported quarter, PTEN spent $155.9 million on capital programs compared with $144.2 million in the prior-year period. As of June 30, 2026, this company had cash and cash equivalents of $203.2 million and long-term debt of $1.23 billion. Its debt-to-capitalization was 28.5%.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a upward trend in estimates revision.
The consensus estimate has shifted 96.88% due to these changes.
VGM Scores
At this time, Patterson-UTI has a nice Growth Score of B, however its Momentum Score is doing a bit better with an A. Charting a somewhat similar path, the stock has a score of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Patterson-UTI has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Patterson-UTI belongs to the Zacks Oil and Gas - Drilling industry. Another stock from the same industry, Noble Corporation PLC (NE - Free Report) , has gained 12.8% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.
Noble Corporation PLC reported revenues of $719.69 million in the last reported quarter, representing a year-over-year change of -15.2%. EPS of $0.01 for the same period compares with $0.13 a year ago.
Noble Corporation PLC is expected to post earnings of $0.13 per share for the current quarter, representing a year-over-year change of -31.6%. Over the last 30 days, the Zacks Consensus Estimate has changed -45.7%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #4 (Sell) for Noble Corporation PLC. Also, the stock has a VGM Score of D.