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

The 10-second takeaway
For the quarter ended June 30 (Q2), Patterson-UTI Energy beat expectations on revenues and crushed expectations on earnings per share.

Compared to the prior-year quarter, revenue grew and GAAP earnings per share grew significantly.

Gross margins dropped, operating margins shrank, net margins were steady.

Revenue details
Patterson-UTI Energy booked revenue of $681.1 million. The 13 analysts polled by S&P Capital IQ hoped for a top line of $664.1 million on the same basis. GAAP reported sales were 14% higher than the prior-year quarter's $600.1 million.

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 $0.60. The 21 earnings estimates compiled by S&P Capital IQ anticipated $0.44 per share. GAAP EPS of $0.60 for Q2 were 15% higher than the prior-year quarter's $0.52 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 39.3%, 240 basis points worse than the prior-year quarter. Operating margin was 18.0%, 380 basis points worse than the prior-year quarter. Net margin was 13.6%, about the same as the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $681.4 million. On the bottom line, the average EPS estimate is $0.44.

Next year's average estimate for revenue is $2.78 billion. The average EPS estimate is $1.93.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 803 members out of 851 rating the stock outperform, and 48 members rating it underperform. Among 191 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 176 give Patterson-UTI Energy a green thumbs-up, and 15 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 $21.00.

How did Patterson-UTI Energy treat you during the oil spike in 2008 and the subsequent bust? More importantly, what are you doing to prepare for the next spike that some experts believe another spike may be just around the corner? Prepare yourself with a well-positioned energy stock we profile in "The Only Energy Stock You'll Ever Need." Get instant access to this free report.