Overview

* Patterson-UTI Q2 2025 revenue largely in-line with analyst expectations, totaling $1,219 mln

* Company reports net loss of $48.7 mln, including $28 mln non-cash asset impairment

* Adjusted EBITDA for Q2 at $231 mln, $46 mln returned to shareholders in Q2

Outlook

* Company expects Q3 Drilling Services adjusted gross profit of $130 mln

* Company anticipates steady Q3 Completion Services activity and adjusted gross profit vs Q2

* Company expects slight improvement in Q3 Drilling Products adjustedgross profit, sequentially

* Company reduces 2025 maintenance capital expenditures expectations due to lower activity

Result Drivers

* ASSET IMPAIRMENT - $28 mln non-cash asset impairment in Colombian drilling operations contributed to net loss

* NATURAL GAS ACTIVITY - Slight improvement in natural gas basin activity, with steady demand expected into Q3

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Meet $1.22 $1.22

Revenue bln bln (11

Analysts

)

Q2 Net -$48.7

Income mln

Q2 $0.08

Dividend

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the oil & gas drilling peer group is "buy"

* Wall Street's median 12-month price target for Patterson-UTI Energy Inc ( PTEN ) is $7.50, about 17.7% above its July 23 closing price of $6.17

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)