secwatch.observer — SEC 8-K summary
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Issuer:     PATTERSON UTI ENERGY INC (PTEN)
CIK:        0000889900
Form:       8-K
Filed at:   2023-01-04T23:59:59+00:00
Accession:  0000950170-23-000087
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Patterson-UTI expects Q4 2022 net income >$100M, adj. EBITDA >$230M
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- Expects Q4 2022 net income to exceed $100M and adjusted EBITDA to surpass $230M.
- Returned $74.3M to shareholders in Q4: $57.2M buybacks (~3.3M shares) plus dividend.
- Repurchased $22.4M of long-term debt during Q4.
- Contract drilling average rig revenue per day benefited from favorable contract renewals.
- Pressure pumping benefited from strong pricing and utilization; holiday downtime less severe than forecast.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889900/000095017023000087/0000950170-23-000087-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889900/000095017023000087/pten-20230104.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-000087

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