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Mar 31
Patterson-UTI Q1 2025 Earnings Report
Patterson-UTI reported stable revenues and modest profitability in Q1 2025 driven by strong performance in Drilling and Completion Services.
Key Takeaways
Patterson-UTI Energy posted $1.3 billion in revenue and marginal net income in Q1 2025, reflecting balanced operational execution across segments, particularly in Drilling Services and Completion Services.
Revenue reached $1.3 billion for the quarter.
Net income attributable to common stockholders was $1 million.
Adjusted EBITDA was $251 million, supported by strong segment profitability.
The company returned $51 million to shareholders via dividends and buybacks.
Patterson-UTI
Patterson-UTI
Patterson-UTI Revenue by Segment
Patterson-UTI Revenue by Geographic Location
Revenue by Segment
Drilling Services Revenue
CapyFin.comCompletion Services Revenue
CapyFin.comDrilling Products Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com Forward Guidance
Patterson-UTI expects steady activity across most segments in Q2 2025, with slight sequential declines in gross profit due to seasonal factors and rolling off of legacy contracts.
Positive Outlook
- Steady rig count anticipated for Drilling Services.
- Natural gas activity began to recover earlier than expected.
- 80% of the active Completion Services fleet is natural gas-capable.
- Drilling Products activity expected to remain stable with international support.
- Balanced capital allocation supports strong liquidity and flexibility.
Challenges Ahead
- Expected sequential decline in Drilling Services adjusted gross profit.
- Completion Services may see demand decline if oil prices remain low.
- Slight pricing pressure in Completion Services segment.
- Seasonal impacts anticipated in Canada for Drilling Products.
- Great Plains divestiture to reduce Other segment profitability.
Revenue & Expenses
Visualization of income flow from segment revenue to net income