Patterson-UTI (PTEN) Reports Q4 Loss, Lags Revenue Estimates

Patterson-UTI (PTEN) came out with a quarterly loss of $0.12 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to earnings of $0.19 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -20%. A quarter ago, it was expected that this provider of onshore contract drilling services would post earnings of $0.01 per share when it actually produced break-even earnings, delivering a surprise of -100%.Over the ...