Patterson-UTI Q3 net income swings to $28.64 million from year-earlier loss
PTEN•Patterson-UTI Energy reported third-quarter 2026 net income attributable to common stockholders of $28.35 million, compared with a year-earlier loss, while revenue rose 14% to $1.34 billion.
1. Quarterly results and outlook
Patterson-UTI Energy reported third-quarter 2026 net income attributable to common stockholders of $28.35 million, compared with a loss a year earlier. Revenue climbed 14% year over year to $1.34 billion. The company expects its fourth-quarter U.S. operating rigs to average approximately 104, with additional reactivations anticipated in the first quarter of 2027. It expects approximately 90% of its active completion fleet to be natural gas capable by the end of 2026.
