In early trading on Thursday, shares of Patterson-UTI Energy (PTEN), a land drilling and completion services company, surged 10.4% after the company announced that its third-quarter revenue and earnings both surpassed expectations. The GAAP earnings per share stood at -$0.10, with revenue reaching $1.18 billion.
The company returned $64 million to shareholders and provided a solid outlook for the fourth quarter, projecting that its total capital expenditure for the year will remain below $600 million.
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