Patterson-UTI (PTEN) Reports Break-Even Earnings for Q3

Zacks10-24

Patterson-UTI (PTEN) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of $0.01. This compares to earnings of $0.20 per share a year ago. These figures are adjusted ...

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These figures are adjusted ...</p>\n\n<a href=\"https://finance.yahoo.com/news/patterson-uti-pten-reports-break-230002985.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Patterson-UTI (PTEN) Reports Break-Even Earnings for Q3</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPatterson-UTI (PTEN) Reports Break-Even Earnings for Q3\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-24 07:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/patterson-uti-pten-reports-break-230002985.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Patterson-UTI (PTEN) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of $0.01. This compares to earnings of $0.20 per share a year ago. These figures are adjusted ...</p>\n\n<a href=\"https://finance.yahoo.com/news/patterson-uti-pten-reports-break-230002985.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PTEN","symbol_name":"Patterson-UTI Energy","start_time":0,"source_url":"https://finance.yahoo.com/news/patterson-uti-pten-reports-break-230002985.html","article_id":"2477513761","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/wXNaNKXxuWlbebD.cUCv9g--~B/aD02MDA7dz05MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/f541c90e0d995722d10914cb76a7c653"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2477513761","pubTimestamp":1729724402,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Patterson-UTI  reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of $0.01. This compares to earnings of $0.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -100%. A quarter ago, it was expected that this provider of onshore contract drilling services would post earnings of $0.09 per share when it actually produced earnings of $0.05, delivering a surprise of -44.44%.Patterson-UTI , which belongs to the Zacks Oil and Gas - Drilling industry, posted revenues of $1.36 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 5.32%. This compares to year-ago revenues of $1.01 billion. The company has topped consensus revenue estimates three times over the last four quarters.Patterson-UTI shares have lost about 27.2% since the beginning of the year versus the S&P 500's gain of 22.7%.While Patterson-UTI has underperformed the market so far this ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PTEN":"Patterson-UTI Energy","UTI":"环球技术学院"},"translate_title":"Patterson-UTI(PTEN)报告第三季度盈亏平衡收益","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PTEN":1,"UTI":1},"content_text":"Patterson-UTI (PTEN) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of $0.01. This compares to earnings of $0.20 per share a year ago. These figures are adjusted for non-recurring items.\nThis quarterly report represents an earnings surprise of -100%. A quarter ago, it was expected that this provider of onshore contract drilling services would post earnings of $0.09 per share when it actually produced earnings of $0.05, delivering a surprise of -44.44%.\nOver the last four quarters, the company has surpassed consensus EPS estimates two times.\nPatterson-UTI , which belongs to the Zacks Oil and Gas - Drilling industry, posted revenues of $1.36 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 5.32%. This compares to year-ago revenues of $1.01 billion. The company has topped consensus revenue estimates three times over the last four quarters.\nThe sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.\nPatterson-UTI shares have lost about 27.2% since the beginning of the year versus the S&P 500's gain of 22.7%.\nWhat's Next for Patterson-UTI?\nWhile Patterson-UTI has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?\nThere are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.\nEmpirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.\nAhead of this earnings release, the estimate revisions trend for Patterson-UTI: unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.\nIt will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.02 on $1.28 billion in revenues for the coming quarter and $0.18 on $5.37 billion in revenues for the current fiscal year.\nInvestors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Drilling is currently in the bottom 19% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.\nPrecision Drilling (PDS), another stock in the same industry, has yet to report results for the quarter ended September 2024. The results are expected to be released on October 29.\nThis oilfield services company is expected to post quarterly earnings of $1.55 per share in its upcoming report, which represents a year-over-year change of +43.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.\nPrecision Drilling's revenues are expected to be $367.26 million, up 10.3% from the year-ago quarter.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nPatterson-UTI Energy, Inc. (PTEN) : Free Stock Analysis Report\nPrecision Drilling Corporation (PDS) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2477513761"}