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Patterson-UTI Energy PTEN Q2 2026 earnings

Reported July 29, 2026 · After market close

Revenue$1.2BBeat by $73.1M
EPS-$0.05Miss by $0.01
Revenue estimate$1.2B
EPS estimate-$0.04
“Our team executed very well, customer activity is growing, and the U.S. onshore market is responding to a more constructive commodity price environment. These results reflect the strategic investments we have made to position Patterson-UTI as a premier oilfield services company across each of our core businesses. Importantly, this second quarter performance was achieved without the benefit of the additional growth capital investments announced during the quarter. We expect those investments to support continued growth into 2027 and beyond, while further strengthening our technology leadership.”
Andy Hendricks

Next report

Date not yet announced

Financials

Q2 2026

Income statement

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Revenue$1.2B+0.7%
Operating income-$7.0M+76.4%
Net income-$19.6M+60.1%
EPS (diluted)-$0.05+61.5%

Balance sheet

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Cash & equivalents$203.2M+9.3%
Total debt$1.3B-0.1%
Total equity$3.1B-7.3%
Total assets$5.4B-3.6%

Cash flow

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Operating cash flow$56.1M-59.9%
CapEx$155.9M+8.1%
Free cash flow-$99.8M—

Valuation & ratios

Valuation

as of 06/30/26
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Market cap$3.48B+51.0%
Enterprise value$4.57B+34.0%
P/S0.7×+0.3×

Profitability

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Operating margin-1.1%-0.5pp
Net margin-1.9%-0.9pp
FCF margin-1.7%—

Returns & leverage

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Return on equity-2.8%-1.3pp
Debt / equity0.4×0.0×
Current ratio1.7×0.0×

Segments

By segment

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Drilling Services$373.5M-7.5%

FAQ

When did Patterson-UTI Energy report Q2 2026 earnings?
Patterson-UTI Energy (PTEN) reported Q2 2026 earnings on July 29, 2026 after market close.
What were Patterson-UTI Energy's Q2 2026 revenue and EPS?
Patterson-UTI Energy reported revenue of $1.2B and eps of $-0.05 for Q2 2026.
Did Patterson-UTI Energy beat estimates in Q2 2026?
Revenue beat the consensus estimate of $1.2B by $73.1M. EPS missed the consensus estimate of $-0.04 by $0.01.
How did Patterson-UTI Energy's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 0.7% from $1.2B a year earlier and eps grew 16.7% from $-0.06.
Where can I find Patterson-UTI Energy's Q2 2026 SEC filings?
You can read the 8-K earnings release (0000889900-26-000050) and the 10-Q periodic report (0000889900-26-000056) directly on SEC EDGAR. The filing index links above go to sec.gov.