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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; stronger U.S. drilling and completion demand and pricing supported improved results.
Adjusted EBITDA was $263.888M, and management expected strong Q4 free cash flow with a meaningful increase in 2027 versus 2026.
Fleet upgrades, digital and automation capabilities, disciplined investment and balance-sheet flexibility remained priorities.
Financial highlights
Net income attributable to common stockholders was $28.353M; diluted EPS was $0.07, versus a $0.05 loss per share in Q2 2026 and $0.10 in Q3 2025.
Q3 operating income was $63.273M, compared with an operating loss of $6.962M in Q2 2026 and $28.054M in Q3 2025.
Adjusted EBITDA was $263.888M, versus $231.886M in Q2 2026 and $218.654M in Q3 2025; it excludes specified non-GAAP items.
Nine-month revenue was $3.688B versus $3.676B in 2025; nine-month net loss attributable to common stockholders narrowed to $15.876M from $84.541M.
Outlook and guidance
Drilling Services expects Q4 average activity of ~104 rigs, exiting 2026 above that level, with additional reactivations in Q1 2027; Q4 adjusted gross profit guidance is $150M.
Completion Services expects Q4 adjusted gross profit of $140M, broadly consistent activity with Q3 and further pricing improvements.
Drilling Products Q4 adjusted gross profit is expected to decline 5%–10% sequentially, primarily due to lower Saudi activity; Other adjusted gross profit is expected to be steady.
Q4 G&A is expected at ~$70M and DDA and impairment expense at ~$220M; free cash flow is expected to increase meaningfully in 2027 versus 2026.
Reactivation and Colombia wind-down costs are expected in Q4; active completion horsepower is not expected to increase through H1 2027.
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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.