Patterson-UTI Energy Full Year 2024 Earnings: Misses Expectations

Patterson-UTI Energy (NASDAQ:PTEN) Full Year 2024 Results

Key Financial Results

• Revenue: US$5.38b (up 30% from FY 2023).
• Net loss: US$968.0m (down by 493% from US$246.3m profit in FY 2023).
• US$2.44 loss per share (down from US$0.88 profit in FY 2023).

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

Patterson-UTI Energy Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 1.8%.

Looking ahead, revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Energy Services industry in the US.

Performance of the American Energy Services industry.

The company's shares are up 1.7% from a week ago.

Valuation

Following the latest earnings results, Patterson-UTI Energy may be undervalued based on 6 different valuation benchmarks we assess. Click here to find out what a fair price for the stock might be and where analysts see the share price heading over the next year.

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