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Patterson UTI Energy (PTEN) Q3 FY2023 earnings: revenue $1.0 billion, up 39.0% on the year

Patterson UTI Energy Inc. (PTEN) reported revenue of $1.0 billion for Q3 FY2023, the quarter ended 30 September 2023, up 39.0% on the same quarter a year earlier. Net income was $50,000, down 99.9% on the year, and diluted earnings per share $0.00. The figures are the company's own, from the 10-Q it filed with the SEC on 28 October 2024.

Revenue$1.0 billionup 39.0%
Net income$50,000down 99.9%
Diluted EPS$0.00
QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Revenue1,011n/an/an/a
Selling, general and administrative45.1n/an/an/a
Operating income9.7n/an/an/a
Operating margin1.0%n/an/a
Interest expense15.6n/an/an/a
Pre-tax income-4.4n/an/an/a
Income tax-4.1n/an/an/a
Net income0.1n/an/an/a
Net margin0.0%n/an/a
Diluted EPS$0.00n/an/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Operating cash flow156n/an/an/a
Capital expenditure160n/an/an/a
Free cash flow-4.3n/an/an/a
Free cash flow margin-0.4%n/an/a
Cash from investing-571n/an/an/a
Cash from financing331n/an/an/a
Depreciation and amortisation188n/an/an/a
Share-based compensation27.4n/an/an/a
Buybacks23.4n/an/an/a
Dividends paid33.2n/an/an/a
Dividend per share$0.08n/an/an/a
Diluted shares, weighted282mn/an/an/a
Shares outstanding at period end417mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Shareholders' equity4,851n/an/an/a
Non-controlling interest8.4n/an/an/a
Debt1,249n/an/an/a
Operating lease liabilities38.9n/an/an/a
Finance lease liabilities13.0n/an/an/a
Other liabilities1,260n/an/an/a
Total liabilities and equity7,421n/an/an/a
Fixed assets3,388n/an/an/a
Goodwill1,373n/an/an/a
Intangible assets1,075n/an/an/a
Cash and equivalents67.0n/an/an/a
Receivables1,010n/an/an/a
Inventory187n/an/an/a
Other assets321n/an/an/a
Total assets7,421n/an/an/a

Questions

What was Patterson UTI Energy's revenue in Q3 FY2023?

Patterson UTI Energy (PTEN) reported revenue of $1.0 billion for Q3 FY2023, the quarter ended 30 September 2023, up 39.0% on the same quarter a year earlier.

How much did Patterson UTI Energy earn in Q3 FY2023?

Net income for Q3 FY2023 was $50,000, down 99.9% on the year, and diluted earnings per share $0.00.

When did Patterson UTI Energy report Q3 FY2023 results?

Patterson UTI Energy filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 28 October 2024.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,0111,5841,5101,3481,3571,1621,2811,2191,1761,1511,1171,228
SG&A45.161.065.064.665.773.166.964.162.062.1n/an/a
Operating income9.711287.045.2-991-31.316.9-29.5-28.1-0.2-14.3-7.0
Operating margin1%7%6%3%-73%-3%1%-2%-2%-0%-1%-1%
Interest expense15.618.718.317.918.017.717.717.617.517.717.520.4
Pre-tax income-4.493.371.729.4-1,009-49.52.7-47.5-43.0-15.1-28.1-27.9
Tax raten/a34%28%60%n/an/a52%n/an/an/an/an/a
Net income0.162.051.211.1-979-51.61.0-49.1-36.4-9.1-24.6-19.6
Net margin0%4%3%1%-72%-4%0%-4%-3%-1%-2%-2%
Diluted EPS$0.00$0.15$0.13$0.03-$2.50-$0.13$0.00-$0.13-$0.10-$0.02-$0.06-$0.05
Operating cash flow15645336619829631620814021639863.956.1
Capital expenditure160205227131181140162144144139117156
Free cash flow-4.324713967.011617546.3-4.571.3259-52.8-99.8
Buybacks23.476.497.813239.720.520.315.633.60.20.39.1
Dividends paid33.233.332.631.831.231.230.930.730.530.338.038.1
Shares outstanding417m411m404m394m390m387m386m385m379m379m380m381m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 28 October 2024, accession 0000889900-24-000016: the filing on EDGAR. All of Patterson UTI Energy Inc.'s filings: EDGAR company page.

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