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Patterson UTI Energy (PTEN) guidance and outlook
Patterson UTI Energy (PTEN) gave its guidance on Oct 29, 2026: Gross profit $140M for Q4 2026; Gross profit +5% to +10% for Q4 2026. Patterson UTI Energy's 10-Q filed Nov 2, 2026 makes 20 forward-looking statements.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Gross profit | Q4 2026 | $150M | new |
| Gross profit | Q4 2026 | $140M | new |
| Gross profit | Q4 2026 | +5% to +10% | new |
From the earnings release filed Oct 29, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 2, 2026
- We also provide a comprehensive suite of directional drilling services in most major producing onshore oil and natural gas basins in the United States and we provide services that aim to improve the statistical accuracy of wellbore placement for directional and horizontal wells.
- Recent Developments in Market Conditions and Outlook — Our revenues, profitability and cash flows are highly dependent upon capital expenditures of exploration and production companies (“E&Ps”), which are largely driven by capital budgets set to achieve respective production targets in relation to current and expected future prices for oil and natural gas, as well as broader macroeconomic conditions.
- Approximately 22% of our total contract drilling backlog in the United States at September 30, 2026 is reasonably expected to remain at September 30, 2027.
- In our drilling services segment for the fourth quarter of 2026, we expect adjusted gross profit to be higher than the third quarter.
- We expect our average U.S. rig count to be approximately 104 in the fourth quarter, and we expect to exit 2026 above that level, with additional rig reactivations anticipated in the first quarter of 2027.
- In our completion services segment for the fourth quarter of 2026, we expect adjusted gross profit to be higher than the third quarter, supported by activity levels broadly consistent with the third quarter and additional pricing improvements.
- In our drilling products segment for the fourth quarter of 2026, we expect adjusted gross profit to be lower than the third quarter, primarily reflecting the expectation for lower drilling activity in Saudi Arabia due to ongoing geopolitical unrest in the region.
- Recent Developments in Business and Financial Matters — During the third quarter of 2026, we sold three Colombia rigs as part of our plan to exit Colombia.
- During the second quarter of 2026, management approved a plan to exit our Colombian contract drilling operations, which resulted in incremental operating expenses totaling $3.0 million and $24.0 million within the Drilling Services segment for the three and nine months ended September 30, 2026, respectively.
- The change in other operating (income) expenses, net was due to a $22.1 million gain on the sale of 13 rigs during the third quarter of 2026, including three rigs sold as part of our plan to exit Colombia, compared to a $2.2 million credit loss expense recognized during the second quarter of 2026.
- The change in other operating (income) expenses, net was primarily due to a $22.1 million gain on the sale of 13 rigs during the third quarter of 2026, including three rigs sold as part of our plan to exit Colombia.
- We assess the realizability of our deferred tax assets quarterly and consider carryback availability, the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment.
Patterson UTI Energy's latest quarter
Patterson UTI Energy, Q3 2026: revenue $1.3B (+14% year over year), operating margin 4.7%, net earnings $28.6M, operating cash flow $301M. The chart follows the revenue to costs, profit and cash.
Questions
Did Patterson UTI Energy raise or lower its guidance?
Patterson UTI Energy (PTEN) gave its guidance on Oct 29, 2026: Gross profit $140M for Q4 2026; Gross profit +5% to +10% for Q4 2026.
What does Patterson UTI Energy expect?
We also provide a comprehensive suite of directional drilling services in most major producing onshore oil and natural gas basins in the United States and we provide services that aim to improve the statistical accuracy of wellbore placement for directional and horizontal wells. Recent Developments in Market Conditions and Outlook — Our revenues, profitability and cash flows are highly dependent upon capital expenditures of exploration and production companies (“E&Ps”), which are largely driven by capital budgets set to achieve respective production targets in relation to current and expected
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.