secwatch.observer — SEC 8-K summary
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Issuer:     PATTERSON UTI ENERGY INC (PTEN)
CIK:        0000889900
Form:       8-K
Filed at:   2026-04-23T23:59:59+00:00
Accession:  0000889900-26-000026
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Patterson-UTI Q1 net loss $25M on $1.1B revenue; Q2 guide sees rig reactivations
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- Q1 net loss $25M; adjusted EBITDA $205M; revenue $1.1B.
- Drilling Services: revenue $352M, adj. gross profit $134M; avg 92 rigs working.
- Completion Services: revenue $680M, adj. gross profit $98M; near full utilization.
- Q2 outlook: Drilling Services avg ~90 rigs, adj. gross profit ~$130M including $5M reactivation costs.
- Dividend declared $0.10/share, payable June 15, 2026; Middle East disruption impacted Drilling Products.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889900/000088990026000026/0000889900-26-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889900/000088990026000026/pten-20260422.htm
  HTML page:      https://secwatch.observer/filing/0000889900-26-000026

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer