Patterson-UTI Energy Q4 EPS $0.19, Inline, Sales $1.58B Beat $1.51B Estimate
Portfolio Pulse from Benzinga Newsdesk
Patterson-UTI Energy (NASDAQ:PTEN) reported Q4 earnings of $0.19 per share, meeting analyst estimates, with a 58.7% decrease from last year. Sales reached $1.58B, beating the $1.51B estimate, marking a 100.93% increase from the previous year.
February 14, 2024 | 11:57 pm
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Patterson-UTI Energy reported Q4 earnings per share of $0.19, matching estimates, and a significant sales increase to $1.58B, beating estimates.
The company's ability to meet earnings estimates and significantly beat revenue forecasts, especially with a substantial year-over-year sales increase, is likely to be viewed positively by investors. The decrease in earnings per share compared to last year might raise some concerns, but the impressive revenue growth could offset negative perceptions, leading to a potential short-term positive impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100