Patterson-UTI posts Q2 2026 net loss of $20 million on $1.2 billion revenue, up 10%
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.
Key points
- 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
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 July 29, 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.