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Sep 30, 2025
Patterson-UTI Q3 2025 Earnings Report
Patterson-UTI reported a quarterly net loss despite steady operational activity across segments.
Key Takeaways
Patterson-UTI posted $1.2 billion in revenue for Q3 2025 with a net loss of $36 million. The company maintained stable activity levels across segments, with strong gross profit from drilling and completion services, although margin pressure and legacy legal costs weighed on earnings.
Revenue for the quarter reached $1.2 billion.
Reported net loss of $36 million; adjusted net loss was $21 million.
Drilling Services delivered $134 million in adjusted gross profit from 8,737 operating days.
Free cash flow for the nine months was $146 million, with capital expenditures of $144 million in Q3.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Patterson-UTI expects Q4 to show relative stability in drilling and improvement in international drilling product sales, though margin pressures persist in certain areas.
Positive Outlook
- Stable U.S. drilling activity expected in Q4.
- Completion Services gross profit expected to be ~$85 million.
- International drilling product revenue expected to improve.
- New technology deployments (Vertex™ and Emerald™ fleets) gaining traction.
- Strong free cash flow anticipated in Q4.
Challenges Ahead
- Drilling Services gross profit expected to decline ~5%.
- Completion Services facing seasonal pressure despite better YoY performance.
- Drilling Products impacted by earlier bit repair costs.
- No improvement in overall net income guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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