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What PTEN’s Analysts Expect for 2Q17

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Dec. 4 2020, Updated 10:42 a.m. ET

PTEN’s 2Q17 earnings estimates

For 2Q17, analysts expect Patterson-UTI Energy (PTEN) to report an adjusted loss per share of $0.30. This would mean a cut in its losses from its 1Q17 adjusted loss of $0.40 per share. PTEN is expected to hold its 2Q17 earnings conference call on July 27.

Higher pressure pumping revenues led by the improved US rig count could lead to higher earnings in 2Q17. You can read more about PTEN in Market Realist’s Understanding Patterson-UTI Energy’s Mixed Bag in 2017.

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PTEN’s earnings and revenues versus estimates

In 1Q17, Patterson-UTI Energy’s adjusted EPS (earnings per share) beat the analysts’ consensus estimate for EPS. On average, PTEN’s adjusted EPS exceeded estimates for the past 13 quarters.

In 2Q17, Wall Street analysts expect PTEN’s revenues to rise 79% over 1Q17 to $545 million. In 1Q17, the sell-side analysts’ estimate fell short of revenues generated in the quarter.

PTEN’s peers

Analysts expect to see $0.18 in adjusted EPS for Halliburton (HAL), PTEN’s larger market cap peer, in 2Q17. TechnipFMC’s (FTI) 2Q17 adjusted earnings are expected to deteriorate to $0.38 per share from $0.71 in 1Q17. Wall Street analysts expect Core Laboratories’ (CLB) 2Q17 adjusted earnings to improve over 1Q17.

Notably, PTEN makes up 3.3% of the SPDR S&P Oil & Gas Equipment & Services ETF (XES). XES has fallen 21% in the past year, compared with the 16% fall in PTEN’s stock price during the same period.

In this series, we’ll discuss Patterson-UTI Energy’s value drivers, industry indicators, and analyst target prices. Continue to the next part for a look at PTEN’s management outlook.

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