Patterson-UTI Q2 net income $11M; adjusted EBITDA $324M; returned $164M to shareholders

PATTERSON UTI ENERGY INC

2024-Q2 EPS reported $0.15 revenue$2,858,554,000

Total revenue $1.3B; net income $11M ($0.03 EPS); includes $11M in merger and integration expenses.
Adjusted EBITDA $324M; YTD cash from ops $563M, free cash flow $206M; Q2 shareholder return $164M.
Declared $0.08/share dividend payable Sept 16, 2024; $819M remaining share repurchase authorization.
U.S. Contract Drilling revenue $378M; avg rig revenue $36,430/day; adjusted gross profit $16,190/day.
Q3 outlook: avg 108 U.S. rigs; Completion Services white space to persist but improve sequentially.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.