Patterson-Uti Energy Inc

Latest Results (06.10.2025):

Patterson-UTI Energy Inc reported its financial results for the second quarter of 2025, showcasing a total revenue of $1.2 billion. The company experienced a net loss of $49 million attributable to common stockholders, which includes a $28 million non-cash asset impairment related to Colombian drilling operations. Despite the net loss, Patterson-UTI achieved an adjusted EBITDA of $231 million and returned $46 million to shareholders through dividends and share repurchases.

Financial Performance

In Q2 2025, Patterson-UTI Energy Inc reported total revenue of $1.2 billion. The company recorded a net loss of $49 million attributable to common stockholders, which includes a non-cash asset impairment of $28 million from Colombian drilling operations. Adjusted EBITDA stood at $231 million, reflecting the company's operational efficiency.

Shareholder Returns

The company returned $46 million to its shareholders in the second quarter through an $0.08 per share dividend and $16 million in share repurchases. Additionally, Patterson-UTI declared a quarterly dividend of $0.08 per share, payable on September 15, 2025, to holders of record as of September 2, 2025.

Drilling Services

The Drilling Services segment generated $404 million in revenue with an adjusted gross profit of $149 million. U.S. Contract Drilling saw 9,465 operating days with an average of 104 rigs. Sequential revenue growth was driven by increased demand for drilling automation technologies, including the Cortex® Automation Platform and the REX® early alert system.

Completion Services

Completion Services reported revenue of $719 million and an adjusted gross profit of $100 million. The segment maintained steady activity with high utilization of Emerald™ and Tier IV dual fuel assets. Key technological advancements, such as the Vertex™ frac automation and FleetStream™ digital solutions, were successfully deployed, positioning the company as a technology leader in completions.

Drilling Products

The Drilling Products segment achieved $88 million in revenue and an adjusted gross profit of $39 million. U.S. revenue per industry rig reached a record high, supported by performance-based agreements and technological enhancements. International revenues remained steady, with notable gains in the Middle East and steady performance in Canada despite seasonal declines.

Outlook

For the third quarter of 2025, Patterson-UTI expects the average rig count in Drilling Services to be in the mid-90s, with adjusted gross profit around $130 million. Completion Services activity is anticipated to remain steady, while Drilling Products are expected to see a slight improvement in adjusted gross profit. Overall, the company projects lower maintenance capital expenditures for the full year 2025 and anticipates accelerated free cash flow in the second half of the year.