Investing.com - Patterson-UTI Energy reported on Thursday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Patterson-UTI Energy announced earnings per share of $-0.6 on revenue of $207M. Analysts polled by Investing.com anticipated EPS of $-0.62 on revenue of $196.09M.
Patterson-UTI Energy shares are down 75% from the beginning of the year and are trading at $2.61 , down-from-52-week-high.They are under-performing the Nasdaq which is up 28% from the start of the year.
Patterson-UTI Energy follows other major Energy sector earnings this month
Patterson-UTI Energy's report follows an earnings beat by Schlumberger on Friday, October 16, 2020, who reported EPS of $0.16 on revenue of $5.26B, compared to forecasts EPS of $0.13 on revenue of $5.4B.
Valero Energy had beat expectations on Thursday with third quarter EPS of $-1.16 on revenue of $15.81B, compared to forecast for EPS of $-1.31 on revenue of $15.95B.
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