Every material Form 8-K Patterson-UTI Energy has filed with the SEC since February 03, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Patterson-UTI reported third-quarter 2026 revenue of $1.3 billion, up 9% from the prior quarter, and net income attributable to common stockholders of $28 million, or $0.07 per diluted share, compared with a loss of $36 million in the same quarter of 2025. The company also declared a $0.10 quarterly dividend and gave fourth-quarter adjusted gross profit targets for its drilling and completion segments, with Drilling Products expected to decline.
Q3 2026 revenue of $1.3 billion, up 9% sequentially; Q3 2026 Adjusted EBITDA of $264 million
Net income attributable to common stockholders of $28 million ($0.07 per diluted share) versus a $20 million loss in Q2 2026
Q4 2026 outlook: Drilling Services adjusted gross profit of $150 million and Completion Services of $140 million; Drilling Products expected to fall 5-10% sequentially
Declared a $0.10 per share dividend payable December 15, 2026 to holders of record as of December 1, 2026
Patterson-UTI reported second-quarter 2026 revenue of $1.2 billion, up 10% from the first quarter, and a net loss attributable to common stockholders of $20 million, or $0.05 per share, narrowed from $25 million in the first quarter. Excluding a $21 million Colombia exit charge and a $5 million write-down of other noncontrolling investments, adjusted net income was $1 million, and the company expects further growth in drilling and completion activity and pricing in the third quarter.
Q2 2026 revenue of $1,227,967 thousand, up from $1,117,331 thousand in Q1 2026; Adjusted EBITDA of $232 million versus $205 million in Q1 2026
Net loss attributable to common stockholders of $20 million ($0.05 per share) versus $25 million ($0.06 per share) in Q1 2026
Third-quarter outlook: Drilling Services adjusted gross profit of about $145 million and Completion Services about $140 million; total 2026 capital expenditures still expected at about $600 million
Quarterly dividend of $0.10 per share declared, payable September 15, 2026 to holders of record as of September 1, 2026
At its June 4, 2026 annual meeting, Patterson-UTI stockholders approved an amendment adding 28.9 million shares to the 2021 Long-Term Incentive Plan and elected all ten director nominees. The same day, the company completed the redemption of all approximately $482.5 million of its 3.95% Senior Notes due 2028, funded in part by a $500 million offering of 6.050% Senior Notes due 2036. The share increase expands the pool available for equity awards under the plan.
Amendment approved with 319,700,114 votes for and 7,391,767 against, plus 18,069,100 broker non-votes.
All ten director nominees elected; Julie J. Robertson had the most votes withheld, at 9,622,050.
On June 4, 2026, the company redeemed all approximately $482.5 million of its 3.95% Senior Notes due 2028 at 100% of principal, plus accrued interest.
The redemption was partly funded by $500 million of 6.050% Senior Notes due 2036, which closed May 19, 2026.
Patterson-UTI Energy completed a $500 million offering of 6.050% Senior Notes due 2036 on May 19, 2026. The company plans to use the net proceeds to redeem its 3.95% Senior Notes due 2028 and for general corporate purposes, which changes the mix and cost of its debt.
Notes: $500 million aggregate principal, 6.050% interest, maturing May 15, 2036
Interest payable May 15 and November 15 each year
Proceeds intended to redeem outstanding 3.95% Senior Notes due 2028 and for general corporate purposes
Notes are senior unsecured; none of the subsidiaries are currently required to guarantee them
Patterson-UTI Energy entered into an amendment to its existing credit agreement on April 24, 2026. The amendment extends the maturity of $450 million of revolving credit commitments from January 31, 2030 to January 31, 2031, and moves $25 million of commitments from HSBC to JPMorgan Chase.
Amendment dated April 24, 2026, amends the credit agreement dated January 31, 2025, with Wells Fargo as administrative agent
$450 million of revolving commitments from certain lenders now mature January 31, 2031, instead of January 31, 2030
$25 million of revolving commitments assigned from HSBC Bank USA to JPMorgan Chase Bank
Patterson-UTI reported first-quarter 2026 revenue of $1.1 billion and a net loss attributable to common stockholders of $25 million, compared with net income of $1 million in the first quarter of 2025 and revenue of $1.28 billion. The company guided to second-quarter adjusted gross profit of about $130 million for Drilling Services and about $105 million for Completion Services, and declared a $0.10 quarterly dividend.
Q1 2026 revenue of $1.1 billion, versus $1.28 billion in Q1 2025 and $1.15 billion in Q4 2025
Net loss attributable to common stockholders of $25 million ($0.06 per diluted share), versus net income of $1 million in Q1 2025
Adjusted EBITDA of $205 million, versus $251 million in Q1 2025
Q2 2026 guidance: Drilling Services adjusted gross profit about $130 million; Completion Services about $105 million; quarterly dividend of $0.10 per share payable June 15, 2026
Patterson-UTI reported fourth-quarter 2025 revenue of $1.15 billion, down from $1.18 billion in the third quarter and $1.16 billion a year earlier, and a net loss of $9 million, narrower than the prior quarter and the year-earlier period. For full-year 2025, revenue fell to $4.83 billion from $5.38 billion, and adjusted free cash flow was $416 million, down from $523 million in 2024. The company also raised its quarterly dividend 25% to $0.10 per share and expects first-quarter 2026 Completion Services adjusted gross profit of about $95 million, down from $111 million in the fourth quarter.
Q4 2025 revenue of $1.15 billion, versus $1.18 billion in Q3 2025 and $1.16 billion in Q4 2024
Q4 2025 net loss attributable to common stockholders of $9 million, versus $36 million in Q3 2025 and $52 million in Q4 2024
Q4 2025 adjusted EBITDA of $221 million, versus $225 million in Q4 2024
Quarterly dividend raised 25% to $0.10 per share, payable March 16, 2026 to holders of record as of March 2, 2026
Patterson-UTI furnished an investor presentation dated January 5, 2026 that includes updates to its previously issued fourth-quarter 2025 guidance. The filing does not state the updated guidance figures in the text provided, so the direction of the change cannot be determined from this document alone.
Drilling Services averaged 93 active rigs in the United States in Q4 2025
Company expects 2026 capital expenditures, net of asset sales, to be less than $500 million
Company remains committed to returning at least 50% of adjusted free cash flow to shareholders annually; $0.08 quarterly dividend paid for thirteen consecutive quarters, including December 2025
No senior note maturities until 2028; investment grade credit rating at all three major rating agencies
Patterson-UTI reported a third-quarter 2025 net loss attributable to common stockholders of $36 million, or $0.10 per share, on revenue of $1.2 billion. Revenue and adjusted EBITDA both fell from the second quarter, though the net loss narrowed from $49 million, and the company declared an unchanged $0.08 quarterly dividend. Management lowered its 2025 capital expenditure budget to below $600 million and gave a mixed fourth-quarter outlook by segment.
Q3 2025 revenue was $1.2 billion, down from $1.22 billion in Q2 2025 and $1.36 billion in Q3 2024.
Net loss attributable to common stockholders was $36 million ($0.10 per share), versus a $49 million loss in Q2 2025; adjusted net loss was $21 million.
Adjusted EBITDA was $219 million, down from $227 million in Q2 2025; a $20 million legal accrual weighed on results.
For Q4 2025, Completion Services adjusted gross profit is expected to be about $85 million, and Drilling Services adjusted gross profit is expected to fall about 5% from Q3.
Patterson-UTI Energy disclosed that director Leslie A. Beyer resigned from its Board effective September 18, 2025, after the U.S. Senate confirmed her as Assistant Secretary for Land and Minerals Management at the U.S. Department of the Interior. The company said the resignation was not due to any disagreement over its operations, policies or practices. The change reduces board membership but involves no financial results or guidance.
Beyer resigned as a director effective immediately on September 18, 2025.
Senate confirmed her appointment as Assistant Secretary for Land and Minerals Management on September 18, 2025.
The company stated the resignation was not a result of any disagreement with the company.
Patterson-UTI Energy promoted James M. Holcomb, its Executive Vice President and Chief Business Officer, to Chief Operating Officer, effective August 8, 2025. Holcomb has been with the company since February 1998 and has more than 35 years of experience in contract drilling operations, so the change moves an operations veteran into the top operating role.
James M. Holcomb promoted to Chief Operating Officer, effective August 8, 2025
Holcomb previously served as Executive Vice President and Chief Business Officer from September 2023 until August 2025
Holcomb joined Patterson-UTI in February 1998 and has over 35 years of experience in contract drilling operations
Patterson-UTI reported a second-quarter 2025 net loss attributable to common stockholders of $49 million, including a $28 million non-cash impairment tied to its Colombian drilling operations. Revenue was $1.2 billion, down from $1.28 billion in the first quarter and $1.35 billion a year earlier, and adjusted EBITDA fell to $231 million from $324 million in the second quarter of 2024. For shareholders, the filing also outlines a lower third-quarter Drilling Services gross profit outlook of approximately $130 million and a reduced 2025 maintenance capital expenditure expectation.
Net loss attributable to common stockholders of $49 million, or $0.13 per diluted share, versus net income of $11 million a year earlier
Total revenue of $1.2 billion; adjusted EBITDA of $231 million, compared with $324 million in the second quarter of 2024
Third-quarter Drilling Services adjusted gross profit expected at approximately $130 million; 2025 capital expenditures expected to be less than $600 million
Quarterly dividend of $0.08 per share declared, payable September 15, 2025 to holders of record as of September 2, 2025
Patterson-UTI reported first-quarter 2025 revenue of $1.3 billion and net income attributable to common stockholders of $1 million, compared with $51 million a year earlier. The company expects Drilling Services and Completion Services adjusted gross profit to decline slightly in the second quarter, and it declared a $0.08 quarterly dividend.
Revenue was $1.3 billion and adjusted EBITDA was $251 million, versus $375 million in the first quarter of 2024.
Diluted earnings per share were $0.00, compared with $0.13 a year earlier and a loss of $0.13 in the fourth quarter of 2024.
Second-quarter outlook: Drilling Services and Completion Services adjusted gross profit expected to decline slightly; Drilling Products expected flat.
Shareholder returns: $51 million returned in the quarter, including $20 million of buybacks; $741 million remains under the repurchase authorization; dividend of $0.08 payable June 16, 2025.
Patterson-UTI Energy's board appointed Forrest Robinson, previously its corporate controller, as Chief Accounting Officer, effective immediately. The filing says he has served the company in finance roles since 2020 and is a certified public accountant, and it reports no related-party transactions or family relationships tied to the appointment.
Forrest Robinson, 41, appointed Chief Accounting Officer on April 3, 2025, effective immediately
Robinson was corporate controller from January 2023 until April 2025 and assistant controller for financial reporting from October 2020 to January 2023
Prior roles include Callon Petroleum Company and Newfield Exploration Company; he is a certified public accountant
Patterson-UTI reported a fourth-quarter 2024 net loss of $52 million, or $0.13 per share, compared with net income of $62 million a year earlier. Revenue was $1.2 billion and adjusted EBITDA was $225 million, both down from the prior year and the prior quarter, with lower completion activity cited as a main factor. For shareholders, the quarter shows weaker profit, while the company's full-year free cash flow of $523 million and its 2025 outlook point to continued cash generation.
Q4 2024 revenue of $1.2 billion, versus $1.6 billion in Q4 2023 and $1.4 billion in Q3 2024
Net loss attributable to common stockholders of $52 million ($0.13 per share), including $3 million in merger and integration expenses; Q4 2023 showed a profit of $0.15 per share
Full-year 2024 adjusted free cash flow of $523 million; $417 million returned to shareholders in 2024, including $290 million in share repurchases
For 2025, expected capital expenditures of approximately $600 million and a first-quarter Completion Services adjusted gross profit of approximately $100 million
Patterson-UTI Energy entered a Second Amended and Restated Credit Agreement on January 31, 2025, providing $500 million of committed senior unsecured revolving credit that matures January 31, 2030. The filing replaces the company's credit agreement dated March 27, 2018 and sets borrowing costs tied to its credit rating.
Facility commitments of $500 million, with a $100 million letter of credit sub-facility and a swing line sub-facility of up to $50 million
Maturity date of January 31, 2030; commitments may be increased by up to $200 million, to a maximum of $700 million, subject to conditions
SOFR loans priced at a margin of 1.25% to 2.25% plus a 0.10% adjustment, with the margin set by the company's credit rating
Financial covenants include a total debt to capitalization ratio not exceeding 50% at each fiscal quarter end
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