Short answer
PATTERSON UTI ENERGY INC (PTEN) filed its Q3 2025 10-Q quarterly report on Oct 28, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $1.2B (down 13.7% year over year) with net income of −$36M.
Q3 2025 key financials · XBRL
- Revenue
- $1.2B
- −13.7% YoY · −3.3% QoQ
- Net income
- −$36M
- +96.3% YoY · +25.9% QoQ
- Operating margin
- -2.4%
- EPS (diluted)
- −$0.10
- +95.9% YoY · +16.7% QoQ
Source: XBRL data from the PATTERSON UTI ENERGY INC (PTEN) Q3 2025 10-Q on SEC EDGAR. USD.
PATTERSON UTI ENERGY INC Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Impairment charge $27.8M in Q2 2025 for Latin American drilling equipment, no impairment for hydraulic fracturing assets
- Drilling products segment fair value exceeded carrying value by ~8%, cementing services showed substantial cushion, no goodwill impairment recorded
- Oil price Q3 2025 average $65.78/barrel vs $64.57 in Q2 2025, natural gas $3.03/MMBtu vs $3.19 in Q2 2025
- Market headwinds: lower drilling forecasts, margin compression, trade tensions, OPEC+ supply increase, causing reduced activity outlook and volatility
- Management warns that sustained low commodity prices, geopolitical risks, inflation, and trade policy uncertainty could materially impact future profitability and cash flows
Risk Factors
- Newly added legal accruals in Q3 2025 related to ongoing lawsuits impacting operating expenses and accrued liabilities
- Impairment update: $27.8M charge to Latin American drilling equipment in Q2 2025 driving 25.3% decrease in related depreciation expense
- Regulatory risk from 2025 One Big Beautiful Bill Act (OBBBA) US tax law reform, ongoing evaluation of impact on financials
- Operational decline: 11.2% fewer US drilling rig operating days in first nine months 2025 due to industry-wide activity drop
- Financial risk: $1.2B long-term debt with covenants including max 50% debt-to-cap ratio and $495M revolving credit availability as of 9/30/25
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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