Patterson-UTI Energy (Nasdaq: PTEN ) reported earnings on Oct. 25. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Patterson-UTI Energy met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share dropped significantly.
Gross margins grew, operating margins dropped, net margins contracted.
Patterson-UTI Energy reported revenue of $643.6 million. The 17 analysts polled by S&P Capital IQ predicted sales of $646.6 million on the same basis. GAAP reported sales were 4.5% lower than the prior-year quarter's $673.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.39. The 25 earnings estimates compiled by S&P Capital IQ anticipated $0.38 per share. GAAP EPS of $0.33 for Q3 were 38% lower than the prior-year quarter's $0.53 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 38.3%, 10 basis points better than the prior-year quarter. Operating margin was 13.5%, 660 basis points worse than the prior-year quarter. Net margin was 7.9%, 430 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $634.5 million. On the bottom line, the average EPS estimate is $0.32.
Next year's average estimate for revenue is $2.71 billion. The average EPS estimate is $1.83.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 792 members out of 839 rating the stock outperform, and 47 members rating it underperform. Among 199 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 186 give Patterson-UTI Energy a green thumbs-up, and 13 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 $19.68.
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