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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Patterson-UTI Energy
Patterson-UTI Energy (PTEN) investor relations material
Patterson-UTI Energy Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary29 Oct, 2026
Executive summary
Q3 revenue was $1.342B, up 9% sequentially; net income attributable to common stockholders was $28.353M and Adjusted EBITDA was $263.888M.
Stronger U.S. drilling and completion demand supported pricing gains; upgraded equipment, digital capabilities and automation contributed to customer performance.
Management expects strong free cash flow in Q4 and a meaningful increase in 2027 versus 2026.
Financial highlights
Q3 operating income was $63.273M, versus a $6.962M operating loss in Q2 2026 and a $28.054M loss in Q3 2025.
Q3 diluted EPS was $0.07, compared with a diluted loss per share of $0.05 in Q2 2026 and $0.10 in Q3 2025.
Nine-month revenue was $3.688B versus $3.676B in 2025; net loss attributable to common stockholders was $15.876M versus an $84.541M loss.
Q3 Adjusted EBITDA was $263.888M versus $231.886M in Q2 and $218.654M in Q3 2025; nine-month Adjusted EBITDA was $700.816M versus $696.496M in 2025.
Outlook and guidance
Q4 Drilling Services adjusted gross profit is expected at $150M; U.S. rig count is expected to average ~104, exit 2026 above that level and see further reactivations in Q1 2027.
Q4 Completion Services adjusted gross profit is expected at $140M, with broadly consistent activity and further pricing improvements; modest seasonality and potential weather delays are factors.
Q4 Drilling Products adjusted gross profit is expected to decline 5%-10% sequentially, mainly due to lower Saudi activity; Other adjusted gross profit is expected to be steady.
Q4 G&A is expected at ~$70M and depreciation, depletion, amortization and impairment at ~$220M; 2026 CapEx net of asset-sale proceeds is expected below $600M.
Management expects free cash flow to increase meaningfully in 2027; 2027 CapEx plans were not finalized, with spending expected generally near 2026 levels and focused on equipment high-grading.
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Latest events from Patterson-UTI Energy
- Q4 adjusted EBITDA reached $409M as merger synergies topped a $100M annualized run rate.PTEN
Q4 2023 - High-quality assets, digital integration, and strong cash flow drive high shareholder returns.PTENInvestor presentation
- Q2 2026 revenue up 10% to $1.23B; adjusted EBITDA $232M; strong growth outlook.PTENQ2 2026
- Operational excellence, digital integration, and disciplined capital returns drive strong financial results.PTENInvestor presentation
- Q1 2026 revenue was $1.12B, net loss $24.6M, and segment utilization remained strong.PTENQ1 2026
- Proxy covers director elections, auditor ratification, incentive plan, and executive pay alignment.PTENProxy filing
- Q3 2025 saw $1.18B revenue, $219M adjusted EBITDA, and strong capital returns amid market uncertainty.PTENQ3 2025
- Q3 revenue up 34% to $1.36B, but $979M net loss from goodwill and asset charges.PTENQ3 2024
- Q4 revenue was $1.2B, with $523M free cash flow and $417M returned to shareholders.PTENQ4 2024
Next Patterson-UTI Energy earnings date
Q4 20264 Feb, 2027
Patterson-UTI Energy
Next Patterson-UTI Energy earnings date
Q4 20264 Feb, 2027
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Frequently asked questions
Patterson-UTI Energy Inc provides drilling and pressure pumping services to oil and gas exploration and production companies. The company operates land-based drilling rigs and offers directional drilling and related services across North America. It is headquartered in Houston, Texas, and its shares are listed on the NASDAQ.