Oct. 24 at 4:08 PM
$PTEN narrows Q3 loss, but revenue challenges persist 📉
Patterson-UTI reported a Q3 adjusted net loss of 6 cents per share, beating the Zacks Consensus Estimate of a 10-cent loss, thanks to a significant 48.7% reduction in costs. However, revenue fell 14% year over year, due to decreased contributions from Drilling Services, Completion Services, and Other Services.
Full breakdown here 👉 https://www.zacks.com/stock/news/2776288/pten-q3-earnings-loss-narrower-than-expected-sales-beat?cid=sm-stocktwits-2-2776288-body-17566&ADID=SYND_STOCKTWITS_TWEET_2_2776288_BODY_17566