Patterson-UTI posts $52 million Q4 net loss as revenue and adjusted EBITDA fall
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.
Key points
- 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
The filing
Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 05, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.