PTEN · 10-Q · 2026Q1 · Full report

Revenue Performance and Mix

PATTERSON UTI ENERGY INC · 2026-04-28 · Importance 60 · Surprise 40

Total consolidated revenues for the three months ended March 31, 2026 were $1,117.3 million, down from $1,280.5 million in the three months ended March 31, 2025 (a 12.8% year‑over‑year decline). Completion services remained the largest segment at $679.6 million (60.8% of total) but declined 11.3% year‑over‑year from $766.1 million. Drilling services revenues were $351.7 million (31.5% of total), down 14.8% year‑over‑year, driven by fewer operating days in the U.S. contract drilling business. ‘Other’ revenues declined materially to $6.2 million (down 60.9% YoY) reflecting the prior-year divestiture of the oilfield rentals business.

Key facts

• In the completion services segment, revenues for the three months ended March 31, 2026 were $679,587 thousand.
• Total consolidated operating revenues for the three months ended March 31, 2026 were $1,117,331 thousand.
• In the drilling services segment, revenues for the three months ended March 31, 2026 were $351,717 thousand.
• Year-over-year, drilling services revenues decreased 14.8% from $412,860 thousand to $351,717 thousand.
• Adjusted EBITDA for the three months ended March 31, 2026 was $205,042 thousand.
• Year-over-year, completion services revenues decreased 11.3% from $766,080 thousand to $679,587 thousand.
• Sequentially, completion services revenues decreased 3.1% from $701,560 thousand to $679,587 thousand.
• Net income (loss) for the three months ended March 31, 2026 was $(24,476) thousand.

Impact estimates