Patterson-UTI Energy — Third Quarter 2026 Earnings Summary

Patterson-UTI Energy reported third-quarter 2026 total revenue of $1.3 billion, representing a 9% sequential increase, with net income attributable to common stockholders of $28 million. Adjusted EBITDA for the quarter reached $264 million, driven by strong demand in U.S. onshore drilling and completion services, particularly for rigs with advanced digital capabilities and natural gas-powered equipment. The company declared a quarterly dividend of $0.10 per share and returned approximately $62 million to shareholders through dividends and share repurchases. Management expects fourth-quarter adjusted gross profit to be $150 million for Drilling Services and $140 million for Completion Services, while anticipating a 5-10% sequential decline in Drilling Products profit due to geopolitical unrest in Saudi Arabia.