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Patterson UTI Energy (PTEN) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 2, 2026 · Patterson UTI Energy (PTEN) Q3 2026 earnings results →

Q3 2026 Revenue up 14% year over year to $1.3B · 2¢ of every $1 of revenue kept as net profit · operating margin 4.7%

Patterson UTI Energy made $1.3B in Q3 2026 (+14% Y/Y): Completion Services $808M, Drilling Services $417M, Drilling Products $110M. Operating margin 4.7%, net earnings $28.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 2, 2026.

Revenue$1.3B
Year over year+14%
Operating margin4.7%
Net earnings$28.6M
Operating cash flow$301M

Drawing the Sankey…

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Patterson UTI Energy Q3 2026 revenue breakdown: Sankey diagram of revenue (Completion Services, Drilling Services, Drilling Products, Other), costs, profit and cash flow
Patterson UTI Energy Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $1.3B in Q3 2026, up 14% year over year and up 9% from the previous quarter. Completion Services was the largest line at 60% of revenue. Completion Services added $0.10B year over year (up 15%), 62% of the total change.

Operating profit was $0.06B, a 4.7% margin (up 7.1 points year over year). Total costs grew 6% against revenue growth of 14%. Net earnings were $0.03B. The effective tax rate was 39.3%.

Operating cash flow was $0.30B (up 39% year over year), 1051% of net earnings. Non-cash charges added back $0.22B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.05B. Capital expenditures of $0.14B left free cash flow of $0.16B.

Quarterly history

Patterson UTI Energy revenue by quarterPatterson UTI Energy revenue by quarter$1.3BQ1 2025$1.2BQ2 2025$1.2BQ3 2025$1.2BQ4 2025$1.1BQ1 2026$1.2BQ2 2026$1.3BQ3 2026
Patterson UTI Energy net earnings by quarterPatterson UTI Energy net earnings by quarter$1.3MQ1 2025−$48.7MQ2 2025−$36.5MQ3 2025−$9.2MQ4 2025−$24.5MQ1 2026−$19.3MQ2 2026$28.6MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 2, 2026$1.3B+14%4.7%$28.6M$301M
Q2 202610-QAug 4, 2026$1.2B+0.7%-0.6%−$19.3M$56.1M
Q1 202610-QApr 28, 2026$1.1B-13%-1.3%−$24.5M$63.9M
Q4 202510-KFeb 10, 2026$1.2B-1%0.0%−$9.2M$398M
Q3 202510-QOct 28, 2025$1.2B-13%-2.4%−$36.5M$216M
Q2 202510-QJul 29, 2025$1.2B-10%-2.4%−$48.7M$140M
Q1 202510-QApr 29, 2025$1.3B-15%1.3%$1.3M$208M

Charts

Patterson UTI Energy: revenue growth, year over year and quarter over quarterPatterson UTI Energy: revenue growth, year over year and quarter over quarterY/YQ/Q-15%Q1 2025-10%-5%Q2 2025-13%-4%Q3 2025-1%-2%Q4 2025-13%-3%Q1 2026+1%+10%Q2 2026+14%+9%Q3 2026
Latest (Q3 2026): Y/Y +14%, Q/Q +9%.
Patterson UTI Energy: where the cash came from (+) and went (−), TTM to Q3 2026Patterson UTI Energy: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$818MCapital spending−$552MCash drawn (+) / kept (−)−$152MDividends−$144MAsset & business sales$71.5MBuybacks−$33.9MNet borrowing (+) / repaid (−)$7.5MOther investing−$6.0MExchange rates−$5.4MOther financing−$2.9M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Patterson UTI Energy: profit against cash, quarter by quarterPatterson UTI Energy: profit against cash, quarter by quarterNet incomeOperating cash flow−$51.4M$316MQ4 2024$1.3M$208MQ1 2025−$48.7M$140MQ2 2025−$36.5M$216MQ3 2025−$9.2M$398MQ4 2025−$24.5M$63.9MQ1 2026−$19.3M$56.1MQ2 2026$28.6M$301MQ3 2026
Latest (Q3 2026): Net income $28.6M, Operating cash flow $301M.
Patterson UTI Energy: diluted shares by fiscal yearPatterson UTI Energy: diluted shares by fiscal year0MFY20200MFY20210MFY2022280MFY2023397MFY2024383MFY2025
+203856.6% since FY2020: more shares outstanding (issuance, stock pay).
Patterson UTI Energy: long-term debt falling due (FY2025)Patterson UTI Energy: long-term debt falling due (FY2025)$483M2028$345M2029$400MLater
Cash $419M, short-term investments —, long-term debt $1.2B at 2025-12-31.
Patterson UTI Energy in its industry: growth against margin (8 companies, SIC 1381)Patterson UTI Energy in its industry: growth against margin (8 companies, SIC 1381)revenue growth, year over year →↑ operating marginmedian +7%median 15%HPRIGNBRNEVALSDRLHPKPTEN (+14%, 5%)
Drilling Oil & Gas Wells; dot size is quarterly revenue; dashed lines are the industry's medians.

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About Patterson UTI Energy

This Report, along with our Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act, are available free of charge through our internet website ( www.patenergy.com ) as soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC. The information contained on our website is not part of this Report or other filings that we make with the SEC. The SEC maintains an internet site ( www.sec.gov ) that contains reports, proxy and information statements and other information regarding issuers that file electronically with the SEC.

In its own words, from its 10-K, filed Feb 10, 2026.

Patterson UTI Energy against its Drilling Oil & Gas Wells peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +14% against the peers' median +7%. Operating margin: 4.7% against the peers' median 15.3%.

CompanyQuarterRevenueY/YOp. margin
PTEN Patterson UTI EnergyQ3 2026$1.3B+14%4.7%
HP Helmerich & PayneQ3 FY26$1.0B-0.6%18.2%
RIG TransoceanQ3 2026$937M-9%15.3%
NBR Nabors IndustriesQ3 2026$872M+7%15.7%
NE NobleQ3 2026$729M-9%8.2%
VAL ValarisQ3 2026$594M-0.4%13.7%
SDRL SeadrillQ3 2026$428M+18%10.3%
HPK HighPeak EnergyQ2 2026$272M+26%29.5%

Source: Patterson UTI Energy 10-Q on SEC EDGAR · CIK 889900 · Drilling Oil & Gas Wells

Guidance and outlook

Patterson UTI Energy: what its forward-looking statements are about (10-Q filed 2026-11-02)Patterson UTI Energy: what its forward-looking statements are about (10-Q filed 2026-11-02)Margins7Other3Costs3Buybacks & dividends2Capital spending2Backlog1Supply chain1Legal & regulation1
20 statements; tone +0.15 (−1 all cautious, +1 all confident); 4 hedged.
Patterson UTI Energy: outlook statements against the filing beforePatterson UTI Energy: outlook statements against the filing beforeConfident5Cautious2

13F: who owns PTEN and who is buying

Largest holders of PTEN (13F)Largest holders of PTEN (13F)BlackRock$577MVanguard Group$258MVanguard Portfolio Management LLC$250MDimensional Fund Advisors LP$209MVanguard Capital Management LLC$153MGoldman Sachs Group$150MAmerican Century Companies$149MState Street$139MSourcerock Group LLC$134MInvesco$119M
Funds' net buying of PTEN by quarter (13F)Funds' net buying of PTEN by quarter (13F)−$173M2024-09−$13.2M2024-12−$12.1M2025-03$119M2025-06−$38.2M2025-09$148M2025-12−$216M2026-03−$6.0M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on PTEN

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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