---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-060539"
form_type: "8-K"
ticker: "PTEN"
cik: "0000889900"
company_name: "PATTERSON UTI ENERGY INC"
filed_at: "2023-11-08T23:59:59+00:00"
generated_at: "2026-06-08T12:33:01.939264+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Patterson-UTI Q3 rev $1.0B, adj EPS $0.20; Q4 guidance implies big growth from acquisitions

## Summary
- Q3 total revenue $1.0B; net income $0.1M ($0.00 EPS); adjusted net income $55M ($0.20 EPS); adjusted EBITDA $277M.
- Completed merger with NexTier (Sep 1) and acquisition of Ulterra (Aug 14); realigned into Drilling Services, Completion Services, Drilling Products segments.
- Q4 outlook: Drilling Services avg 118 rigs, rev per day $35,400, margin $16,100; Completion Services rev ~$950M, margin ~$200M; Drilling Products rev ~$90M.
- Expects $200M run-rate synergies from NexTier by Q1 2025; issued $400M senior notes due 2033; returned $191M YTD via dividends and buybacks.

## SEC filing metadata
- accession: 0000950170-23-060539
- form_type: 8-K
- ticker: PTEN
- cik: 0000889900
- company_name: PATTERSON UTI ENERGY INC
- filed_at: 2023-11-08T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/889900/000095017023060539/0000950170-23-060539-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/889900/000095017023060539/pten-20231107.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-060539
- JSON: https://secwatch.observer/filing/0000950170-23-060539.json
- Plain text: https://secwatch.observer/filing/0000950170-23-060539.txt

## Key facts
- Earnings Releases
  PATTERSON UTI ENERGY INC reported the three and nine months ended September 30, 2023 results: revenue Total revenue of $1.0 billion, net income Net income attributable to common stockholders of $0.1 million, or $0.00 per share, EPS $0.00 per share.
  - Period: the three and nine months ended September 30, 2023
  - Revenue: Total revenue of $1.0 billion
  - Net income: Net income attributable to common stockholders of $0.1 million, or $0.00 per share
  - EPS: $0.00 per share
  - Result: reported results
  source text: days from Ulterra Drilling Technologies, beginning on August 14, 2023, through the end of the quarter Third Quarter 2023 Financial Results and Other Key Items • Total revenue of $1.0 billion • Net income attributable to common stockholders of $0.1 million, or $0.00 per share o Includes $70 million in merger and integration expenses, partially offset by the
  evidence_url: https://www.sec.gov/Archives/edgar/data/889900/000095017023060539/0000950170-23-060539-index.htm

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