Yahoo Finance Patterson-UTI Energy First Quarter 2024 Earnings: In Line With Expectations
Patterson-UTI Energy (NASDAQ:PTEN) First Quarter 2024 Results
Key Financial Results
Revenue: US$1.51b (up 91% from 1Q 2023).
Net income: US$51.2m (down 49% from 1Q 2023).
Profit margin: 3.4% (down from 13% in 1Q 2023).
EPS: US$0.13 (down from US$0.47 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Patterson-UTI Energy Meets Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.
Looking ahead, revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Energy Services industry in the US.
Performance of the American Energy Services industry.
The company's shares are down 5.9% from a week ago.
Risk Analysis
Before you take the next step you should know about the 5 warning signs for Patterson-UTI Energy (1 is a bit concerning!) that we have uncovered.
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