Patterson-UTI Energy Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags

Patterson-UTI Energy (NASDAQ:PTEN) Full Year 2023 Results

Key Financial Results

• Revenue: US$4.15b (up 57% from FY 2022).
• Net income: US$246.3m (up 59% from FY 2022).
• Profit margin: 5.9% (in line with FY 2022).
• EPS: US$0.88 (up from US$0.72 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Patterson-UTI Energy Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 26%.

Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Energy Services industry in the US.

Performance of the American Energy Services industry.

The company's shares are up 15% from a week ago.

Risk Analysis

You should learn about the 3 warning signs we've spotted with Patterson-UTI Energy (including 1 which makes us a bit uncomfortable).

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