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Patterson-UTI Energy (PTEN) investor relations material

Patterson-UTI Energy Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary23 Oct, 2025

Executive summary

  • Q3 2025 revenue was $1.18 billion, with adjusted EBITDA of $219 million and an adjusted net loss of $21 million; net loss attributable to common shareholders was $36 million ($0.10 per share), a significant improvement from the prior year.

  • Maintained strong operational execution and margin resiliency amid a challenging and cyclical market, with continued investment in technology and digital platforms.

  • Enhanced commercial strategies through service integration, performance-based agreements, and cost structure improvements.

  • Returned $64 million to shareholders in Q3 via dividends and share repurchases; declared a $0.08/share dividend for Q4.

  • Maintained strong liquidity with $500 million in working capital and $495 million available under its credit facility as of September 30, 2025.

Financial highlights

  • Q3 2025 revenues were $1.18 billion, with adjusted EBITDA of $219 million and adjusted gross profit of $282.1 million.

  • Net loss attributable to common shareholders was $36 million ($0.10 per share); adjusted net loss was $21 million.

  • Adjusted free cash flow for the first nine months of 2025 was $146 million.

  • Cash and equivalents at quarter-end were $187 million.

  • Returned $64 million to shareholders in Q3; 9% share count reduction since 2023.

Outlook and guidance

  • Q4 2025 Drilling Services rig count expected to remain steady, with adjusted gross profit projected to decline ~5% sequentially.

  • Completion Services Q4 adjusted gross profit expected at ~$85 million, with less seasonality than prior year.

  • Drilling Products Q4 adjusted gross profit expected to improve slightly, especially internationally.

  • Full-year 2025 capital expenditures now expected below $600 million.

  • Free cash flow expected to remain strong into 2026, supporting continued shareholder returns.

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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.

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