Patterson-UTI Energy, Inc. PTEN is set to report second-quarter 2026 earnings on July 29. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a loss of 3 cents per share on revenues of $1.15 billion.
Let’s delve into the factors that might have influenced PTEN’s performance in the to-be-reported quarter. Before that, it’s worth taking a look at the company’s performance in the last reported quarter.
Highlights of PTEN’s Q1 Earnings & Surprise History
In the last reported quarter, the Houston, TX-based oil and gas drilling company’s earnings beat the consensus mark. Patterson-UTI Energy reported a first-quarter 2026 adjusted net loss of 6 cents per share, narrower than the Zacks Consensus Estimate of a 10-cent loss. This was due to a decrease in operating income in its Drilling Services, Completion Services and Drilling Products segments. Total revenues of $1.1 billion beat the Zacks Consensus Estimate by 3.1%.
PTEN’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the mark once, delivering an average surprise of 27.96%
This is depicted in the graph below:
Patterson-UTI Energy, Inc. Price and Consensus
Patterson-UTI Energy, Inc. price-consensus-chart | Patterson-UTI Energy, Inc. Quote
Trend in PTEN’s Estimate Revision
The Zacks Consensus Estimate for second-quarter 2026 earnings has not experienced any upward or downward movements in the past seven days. The estimated figure indicates a 5.85% year-over-year decline. However, the Zacks Consensus Estimate for revenues indicates an increase of about 5.85% from the year-ago period’s actual.
Factors to Consider Ahead of PTEN’s Q2 Release
PTEN generates revenues by providing drilling, completion and related services to oil and gas producers. The company supports customers throughout the well lifecycle by drilling wells, completing them and supplying the equipment and technologies required for these operations. The reduction in PTEN's costs is likely to have supported its bottom line. The company’s operating costs and expenses are projected to reach $1.11 billion in the second quarter, which is 11% up from the year-ago period’s level. Direct operating costs are projected to be $825.6 million, down 11.2% year over year, while depreciation, depletion, amortization and impairment expenses are estimated to be $220.1 million, representing a 15.9% decline from the prior-year period.
On the bearish side, PTEN’s revenues are likely to have come under pressure in the quarter to be reported. The Zacks Consensus Estimate for second-quarter revenues is expected to be down from the year-ago quarter’s $1.22 billion. The decline is likely to have reflected weaker year-over-year performance across the company’s Drilling Services, Completion Services, Drilling Products and Other segments.
What Does Our Model Say About PTEN Stock?
The proven Zacks model does not conclusively predict an earnings beat for Patterson-UTI Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. However, that is not the case here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
PTEN’s Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is -10.77%.
PTEN’s Zacks Rank: PTEN currently carries a Zacks Rank #2.
Stocks With the Favorable Combination
Here are some firms from the energy space that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Cheniere Energy LNG has an Earnings ESP of +20.97% and a Zacks Rank #1. The firm is scheduled to release earnings on Aug. 6. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cheniere Energy is valued at $56.03 billion. It is a leading U.S.-based liquefied natural gas (“LNG”) company that produces, exports and markets LNG to customers around the world from the major facilities in Louisiana and Texas. Cheniere Energy's earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the mark once, delivering an average surprise of 74.97%
Murphy Oil MUR has an Earnings ESP of +10.92% and a Zacks Rank #3. The firm is scheduled to release earnings on Aug. 5. Murphy Oil is an independent oil and natural gas exploration and production company with operations in the United States, Canada and offshore international markets, focusing on the development of conventional and unconventional hydrocarbon resources.
The company is valued at $5.56 billion. Murphy Oil’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 117.54%.
Helmerich & Payne HP has an Earnings ESP of +2.08% and a Zacks Rank #3. The firm is scheduled to release earnings on Aug. 5.
Helmerich & Payne is valued at $3.52 billion. The company is a leading provider of drilling solutions, offering land and offshore contract drilling services and advanced drilling technologies to oil and natural gas exploration and production companies.
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Patterson-UTI Energy, Inc. (PTEN): Free Stock Analysis Report
Helmerich & Payne, Inc. (HP): Free Stock Analysis Report
Murphy Oil Corporation (MUR): Free Stock Analysis Report
Cheniere Energy, Inc. (LNG): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).