Filing Flows › Patterson UTI Energy (PTEN) › Q1 2025
Patterson UTI Energy (PTEN) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 29, 2025
Patterson UTI Energy (PTEN) reported revenue of $1.3B for the first quarter 2025 (Q1 2025), -15% from a year earlier and +10% from the quarter before. Operating margin was 1.3%, net earnings $1.3M (0.1% of revenue).
Patterson UTI Energy, Q1 2025: revenue $1.3B (-15% year over year), operating margin 1.3%, net earnings $1.3M, operating cash flow $208M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +10% | -15% |
| Operating profit | $16.9M | — | -81% |
| Net earnings | $1.3M | — | -98% |
| Operating cash flow | $208M | -34% | -43% |
| Free cash flow | $50.7M | — | -64% |
What changed
Revenue was $1.3B in Q1 2025, down 15% year over year and up 10% from the previous quarter. Completion Services was the largest line at 60% of revenue. Completion Services lost $0.18B year over year (down 19%), 78% of the total change.
Operating profit was $0.02B, a 1.3% margin (down 4.4 points year over year). Total costs fell 11% while revenue fell 15%. Net earnings were $1.0M, down 98% year over year. The effective tax rate was 51.9%.
Operating cash flow was $0.21B (down 43% year over year), 16135% of net income including minority interests. Non-cash charges added back $0.23B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.03B. After capital expenditures, net ($0.16B), adjusted free cash flow as the company reports it was $0.05B.
Questions
What was Patterson UTI Energy's revenue in the first quarter 2025?
Patterson UTI Energy (PTEN) reported revenue of $1.3B for the first quarter 2025 (Q1 2025), -15% from a year earlier and +10% from the quarter before.
Was Patterson UTI Energy profitable in the first quarter 2025?
Operating profit was $16.9M (1.3% of revenue) and net earnings $1.3M.