In Q2 2024, Patterson-UTI Energy reported $1.3B revenue, $11M net income, and $324M Adjusted EBITDA, returning $164M

Patterson-UTI Energy (NASDAQ: PTEN) reported Q2 2024 financial results, including total revenue of $1.3B, net income of $11M ($0.03/share), and Adjusted EBITDA of $324M. They've returned $164M to shareholders in Q2, and $295M in H1 2024, with plans to return at least $400M for the year. Since the NexTier merger and Ulterra acquisition, they've returned $407M to shareholders, including $309M for share repurchases.

July 25, 2024
4 Articles