Filing Flows › Patterson UTI Energy (PTEN) › Q1 2026
Patterson UTI Energy (PTEN) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 28, 2026
Patterson UTI Energy (PTEN) reported revenue of $1.1B for the first quarter 2026 (Q1 2026), -13% from a year earlier and -3% from the quarter before. Operating margin was -1.3%, net loss $24.5M (2.2% of revenue).
Patterson UTI Energy, Q1 2026: revenue $1.1B (-13% year over year), operating margin -1.3%, net loss $24.5M, operating cash flow $63.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | -3% | -13% |
| Operating profit | −$14.3M | — | -184% |
| Net earnings | −$24.5M | — | -1997% |
| Operating cash flow | $63.9M | -84% | -69% |
What changed
Revenue was $1.1B in Q1 2026, down 13% year over year and down 3% from the previous quarter. Completion Services was the largest line at 61% of revenue. Completion Services lost $0.09B year over year (down 11%), 53% of the total change.
Operating costs exceeded revenue by $0.01B, an operating margin of -1.3%. Total costs fell 10% while revenue fell 13%. The quarter ended with a net loss of $0.02B, wider than the previous quarter's $0.01B loss. Net interest and other expense of $0.01B was the main reason.
Operating cash flow was $0.06B (down 69% year over year). Non-cash charges added back $0.22B of depreciation and amortization and $4.4M of share-based compensation. Working capital and other items used $0.13B. Capital expenditures of $0.12B exceeded it, leaving free cash flow of −$0.05B.
Questions
What was Patterson UTI Energy's revenue in the first quarter 2026?
Patterson UTI Energy (PTEN) reported revenue of $1.1B for the first quarter 2026 (Q1 2026), -13% from a year earlier and -3% from the quarter before.
Was Patterson UTI Energy profitable in the first quarter 2026?
Operating loss was $14.3M (-1.3% of revenue) and net loss $24.5M.