secwatch.observer — SEC 8-K summary
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Issuer:     PATTERSON UTI ENERGY INC (PTEN)
CIK:        0000889900
Form:       8-K
Filed at:   2023-02-08T23:59:59+00:00
Accession:  0000950170-23-002182
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889900/000095017023002182/0000950170-23-002182-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889900/000095017023002182/pten-20230208.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-002182

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