Patterson-UTI Energy (Nasdaq: PTEN) reported earnings on April 26. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Patterson-UTI Energy beat slightly on revenues and beat expectations on earnings per share.

Compared with the prior-year quarter, revenue improved significantly and GAAP earnings per share improved significantly.

Gross margins dropped, operating margins grew, net margins grew.

Revenue details
Patterson-UTI Energy reported revenue of $745.9 million. The 13 analysts polled by S&P Capital IQ expected net sales of $733.2 million on the same basis. GAAP reported sales were 31% higher than the prior-year quarter's $567.4 million.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.62. The 22 earnings estimates compiled by S&P Capital IQ averaged $0.58 per share. GAAP EPS of $0.62 for Q1 were 35% higher than the prior-year quarter's $0.46 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 39.4%, 80 basis points worse than the prior-year quarter. Operating margin was 20.8%, 40 basis points better than the prior-year quarter. Net margin was 13.0%, 40 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $712.4 million. On the bottom line, the average EPS estimate is $0.54.

Next year's average estimate for revenue is $3.02 billion. The average EPS estimate is $2.26.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 801 members out of 846 rating the stock outperform, and 45 members rating it underperform. Among 217 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 205 give Patterson-UTI Energy a green thumbs-up, and 12 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Patterson-UTI Energy is outperform, with an average price target of $25.26.

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