Patterson-UTI Q1 profit falls to $1 million on $1.3 billion revenue
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.
Key points
- 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.
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 April 23, 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.