Patterson-UTI Energy's Q4 Earnings Fall Y/Y, Sales Lag Estimates
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Patterson-UTI Energy reported a year-over-year decline in Q4 earnings, with sales falling short of estimates. The company plans to reduce capital expenditures in 2025 to around $600 million, with each segment spending less than in 2024.
February 06, 2025 | 1:45 pm
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Patterson-UTI Energy's Q4 earnings declined year-over-year, and sales did not meet expectations. The company plans to reduce capital expenditures in 2025.
The decline in earnings and sales missing estimates are negative indicators for PTEN's stock price. Additionally, the planned reduction in capital expenditures suggests a cautious outlook, which may further pressure the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100