---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-002182"
form_type: "8-K"
ticker: "PTEN"
cik: "0000889900"
company_name: "PATTERSON UTI ENERGY INC"
filed_at: "2023-02-08T23:59:59+00:00"
generated_at: "2026-06-19T22:13:40.622474+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Patterson-UTI Q4 net income $100M ($0.46/sh), revenue $788M; contract drilling margins improve

## Summary
- Net income $100M ($0.46 EPS) vs Q3 $61.5M ($0.28); revenue $788M, up from $728M.
- Contract drilling avg rig count 131; avg rig margin $13,450/day (+$2,970 QoQ); backlog $830M.
- Pressure pumping revenue $307M (+$19.1M); adjusted gross margin $86M (+$10.1M).
- Returned $74.3M to shareholders: $57.2M buybacks (3.3M shares) plus $0.08 dividend payable Mar 16.
- 2023 capex guidance ~$550M; targeting 50% of FCF returned to shareholders.

## SEC filing metadata
- accession: 0000950170-23-002182
- form_type: 8-K
- ticker: PTEN
- cik: 0000889900
- company_name: PATTERSON UTI ENERGY INC
- filed_at: 2023-02-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/889900/000095017023002182/0000950170-23-002182-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/889900/000095017023002182/pten-20230208.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-002182
- JSON: https://secwatch.observer/filing/0000950170-23-002182.json
- Plain text: https://secwatch.observer/filing/0000950170-23-002182.txt

## Key facts
- Earnings Releases
  PATTERSON UTI ENERGY INC reported the quarter ended December 31, 2022 results: revenue $788 million, net income $100 million, EPS $0.46 per share.
  - Period: the quarter ended December 31, 2022
  - Revenue: $788 million
  - Net income: $100 million
  - EPS: $0.46 per share
  - Result: reported results
  source text: The Company reported net income of $100 million, or $0.46 per share, for the fourth quarter of 2022, compared to net income of $61.5 million, or $0.28 per share, for the third quarter of 2022. Revenues for the fourth quarter of 2022 were $788 million, compared to $728 million for the third quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/889900/000095017023002182/0000950170-23-002182-index.htm
- Earnings Releases
  PATTERSON UTI ENERGY INC reported financial results for the twelve months ended December 31, 2022.
  - Period: the twelve months ended December 31, 2022
  - Result: reported results
  source text: Patterson-UTI Energy, Inc. (the "Company") announced financial results for the three and twelve months ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/889900/000095017023002182/0000950170-23-002182-index.htm

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