Patterson-UTI: Q2 Earnings Snapshot
HOUSTON (AP) — HOUSTON (AP) — Patterson-UTI Energy Inc. (PTEN) on Wednesday reported second-quarter net income of $84.6 million.
On a per-share basis, the Houston-based company said it had net income of 40 cents. Earnings, adjusted for non-recurring costs, were 44 cents per share.
The results met Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for earnings of 44 cents per share.
The provider of onshore contract drilling services posted revenue of $758.9 million in the period, which missed Street forecasts. Seven analysts surveyed by Zacks expected $780.5 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PTEN at https://www.zacks.com/ap/PTEN
