NASDAQ$PTEN
Patterson-UTI Energy Inc · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
Patterson-UTI Energy reported its financial results for the fourth quarter ended December 31, 2024, showing a net loss and decreased revenue compared to the previous year.
Patterson-UTI Energy reported a total revenue of $1.2 billion and a net loss attributable to common stockholders of $52 million, or $0.13 per share, for the fourth quarter of 2024. The company's Adjusted EBITDA for the quarter was $225 million.
- Total revenue for Q4 2024 was $1.2 billion.
- Net loss attributable to common stockholders was $52 million, or $0.13 per share.
- Adjusted EBITDA for Q4 2024 was $225 million.
- The company returned $52 million to shareholders in the fourth quarter, including $20 million for share repurchases.
Headline financials
Revenue & EPS history
Patterson-UTI · Revenue · Quarterly
$1.16M
Revenue by segment
Patterson-UTI · $1.01B total across 4 segments · Q3 2023
- Drilling Services$489M+16.9%48.3%
- Completion Services$460M+59.8%45.4%
- Drilling Products$46.6M—4.6%
- Other$16.5M-24.2%1.6%
Forward guidance
For Q1 2025, Patterson-UTI expects U.S. Contract Drilling to operate an average of 106 rigs with an adjusted gross profit per operating day of approximately $15,250. Completion Services are expected to see a seasonal uptick in activity, with adjusted gross profit of approximately $100 million. Capital expenditures for 2025 are projected to be around $600 million.
Tailwinds
- U.S. shale drilling market expected to remain relatively steady.
- Natural gas market showing signs of balancing, with anticipated increase in natural gas-directed drilling and completion activity later in 2025.
- Expect to achieve another year of strong free cash flow in 2025.
- Commitment to return at least 50% of adjusted free cash flow to investors through dividends and share repurchases.
- International revenue for drill bits and downhole tools expected to increase in 2025.
Headwinds
- Completion Services recovery in Q1 2025 will be partially offset by inefficiencies early in the quarter.
- Capital expenditures for 2025 are approximately $600 million, which is a significant investment.
- U.S. onshore activity may remain steady near current levels, limiting significant growth.
- Selling, general and administrative expense expected to be approximately $67 million in Q1 2025.
- Depreciation, depletion, amortization, and impairment expense expected to be approximately $235 million in Q1 2025.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2024
+1.1%
Avg return
Earnings day
+3.4%
Avg return
5 days after
+2.8%
Avg return
30 days after
47%
34 / 73 earnings
Positive
+16.1%
Q3 2018
Best reaction
-17.4%
Q4 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.1% | +9.3% | +13.9% | |
| Q4 2025 | +2.8% | +4.0% | +12.8% | |
| Q3 2025 | +11.2% | +3.0% | -9.0% | |
| Q2 2025 | -4.1% | -5.7% | -1.2% | |
| Q1 2025 | +3.7% | +1.2% | -2.7% | |
| Q4 2024 | +0.0% | +10.1% | -10.4% | |
| Q3 2024 | +1.4% | +1.5% | +10.4% | |
| Q2 2024 | +2.6% | -0.1% | -8.5% | |
| Q1 2024 | -2.1% | +1.4% | +1.8% | |
| Q4 2023 | +13.7% | +16.7% | +11.7% | |
| Q3 2023 | -2.2% | -2.3% | -13.4% | |
| Q2 2023 | +1.2% | +3.1% | -8.8% | |
| Q1 2023 | -2.8% | -4.3% | -10.2% | |
| Q4 2022 | -11.3% | -6.9% | -19.0% | |
| Q3 2022 | +15.4% | +20.9% | +20.4% | |
| Q2 2022 | +11.8% | +16.0% | +11.0% | |
| Q1 2022 | +9.7% | +2.1% | +24.6% | |
| Q4 2021 | +16.1% | +23.7% | +46.9% | |
| Q3 2021 | -5.8% | -0.9% | -21.2% | |
| Q2 2021 | -2.6% | -1.7% | -3.8% | |
| Q1 2021 | -0.7% | +11.0% | +22.9% | |
| Q4 2020 | -6.7% | -7.2% | +39.2% | |
| Q3 2020 | +10.7% | +1.5% | +56.7% | |
| Q2 2020 | +7.1% | +9.3% | +1.4% | |
| Q1 2020 | +12.6% | +22.6% | +54.3% | |
| Q4 2019 | -12.5% | -11.4% | -49.0% | |
| Q3 2019 | +6.5% | +6.5% | +4.5% | |
| Q2 2019 | -5.8% | +2.8% | -29.7% | |
| Q1 2019 | -5.7% | -10.2% | -27.1% | |
| Q4 2018 | -0.4% | +5.8% | +0.2% | |
| Q3 2018 | +16.1% | +16.4% | +1.0% | |
| Q2 2018 | +4.8% | +6.2% | +8.0% | |
| Q1 2018 | +6.4% | +8.3% | +5.7% | |
| Q4 2017 | -17.4% | -18.5% | -8.7% | |
| Q3 2017 | +10.0% | +10.1% | +14.0% | |
| Q2 2017 | -1.2% | -2.4% | -19.7% | |
| Q1 2017 | -5.9% | -6.1% | -6.4% | |
| Q4 2016 | +2.2% | +8.0% | -7.5% | |
| Q3 2016 | -3.1% | -5.3% | +3.5% | |
| Q2 2016 | -1.3% | -4.3% | +4.7% | |
| Q1 2016 | +3.5% | — | — | |
| Q4 2015 | +5.3% | — | — | |
| Q3 2015 | +5.2% | — | — | |
| Q2 2015 | -3.5% | — | — | |
| Q1 2015 | +0.7% | — | — | |
| Q4 2014 | +6.3% | — | — | |
| Q3 2014 | -2.2% | — | — | |
| Q2 2014 | +2.8% | — | — | |
| Q1 2014 | -3.8% | — | — | |
| Q4 2013 | +14.5% | — | — | |
| Q3 2013 | -0.2% | — | — | |
| Q2 2013 | -6.0% | — | — | |
| Q1 2013 | -9.3% | — | — | |
| Q4 2012 | +12.8% | — | — | |
| Q3 2012 | -2.2% | — | — | |
| Q2 2012 | +8.7% | — | — | |
| Q1 2012 | -3.1% | — | — | |
| Q4 2011 | -3.4% | — | — | |
| Q3 2011 | -10.5% | — | — | |
| Q2 2011 | -6.2% | — | — | |
| Q1 2011 | +0.1% | — | — | |
| Q4 2010 | -1.7% | — | — | |
| Q3 2010 | -1.0% | — | — | |
| Q2 2010 | -1.2% | — | — | |
| Q1 2009 | -3.7% | — | — | |
| Q1 2010 | +0.9% | — | — | |
| Q4 2007 | -3.3% | — | — | |
| Q4 2009 | -3.3% | — | — | |
| Q3 2009 | +1.7% | — | — | |
| Q3 2008 | +1.7% | — | — | |
| Q4 2008 | +0.0% | — | — | |
| Q2 2008 | +0.0% | — | — | |
| Q2 2009 | +0.0% | — | — |
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