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AI brief of an SEC Form 8-K · Patterson-UTI Energy (PTEN)

Patterson-UTI posts $25 million first-quarter net loss as revenue falls to $1.1 billion

Negative Impact 3 of 5 earnings Written later

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.

Key points

  • 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

The filing

CompanyPatterson-UTI Energy (PTEN)
Form8-K, current report
Filed with the SECApr 22, 2026, 5:45 PM ET
Accession number0000889900-26-000026

Items reported: 2.02 Results of Operations8.01 Other Events

Read the filing on SEC.gov ↗

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 April 22, 2026.

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.