---
schema_version: "secwatch.filing_event.v1"
accession: "0000889900-24-000013"
form_type: "8-K"
ticker: "PTEN"
cik: "0000889900"
company_name: "PATTERSON UTI ENERGY INC"
filed_at: "2024-10-24T23:59:59+00:00"
generated_at: "2026-05-30T10:49:03.460242+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Patterson-UTI posts Q3 net loss of $979M on $1.4B revenue; goodwill impairment $885M

## Summary
- Net loss $979M ($2.50/share) includes $885M goodwill impairment and $114M asset retirement charge; adjusted net income $2M ($0.00/share).
- Adjusted EBITDA $275M; YTD free cash flow $322M; expects 2024 capex below $700M.
- Completion Services Q3 revenue $832M, adj. gross profit $128M; expects Q4 adj. gross profit ~$85M.
- Declared $0.08/share dividend payable Dec 16, 2024; $780M remaining buyback authorization.
- U.S. Contract Drilling avg 106 rigs in Q4; adj. gross profit per day slightly below $15,000.

## SEC filing metadata
- accession: 0000889900-24-000013
- form_type: 8-K
- ticker: PTEN
- cik: 0000889900
- company_name: PATTERSON UTI ENERGY INC
- filed_at: 2024-10-24T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/889900/000088990024000013/0000889900-24-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/889900/000088990024000013/pten-20241023.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000889900-24-000013
- JSON: https://secwatch.observer/filing/0000889900-24-000013.json
- Plain text: https://secwatch.observer/filing/0000889900-24-000013.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.