secwatch.observer — SEC 8-K summary
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Issuer:     PATTERSON UTI ENERGY INC (PTEN)
CIK:        0000889900
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0001628280-24-032884
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889900/000162828024032884/0001628280-24-032884-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889900/000162828024032884/pten-20240724.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-032884

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