Patterson-UTI Q2 FY26 net loss narrows to $20 million; revenue rises 10% vs Q1 to $1.2 billion

Reuters2026/07/29 21:28

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Patterson-UTI posted Q2 net loss attributable to common stockholders of USD 20 million, despite revenue rising 10% sequentially to USD 1.2 billion.
Adjusted EBITDA came in at USD 232 million; adjusted net income attributable to common stockholders was USD 1 million on Colombia drilling exit charges.
Drilling Services revenue was USD 374 million; U.S. contract drilling averaged 92 rigs, exiting the quarter at 96 on higher demand.
Completion Services revenue climbed to USD 754 million; management said the frac fleet was effectively sold out, with pricing talks “very constructive.”
For Q3, management expects average U.S. rig count near 100; adjusted gross profit seen at USD 145 million in Drilling Services, USD 140 million in Completion.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Patterson-UTI Energy Inc. published the original content used to generate this news brief via ACCESS Newswire (Ref. ID: 202607291710ACCESSWRNAPR_____1198264) on July 29, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Patterson-UTI Q2 FY26 net loss narrows to $20 million; revenue rises 10% vs Q1 to $1.2 billion

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