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Patterson-UTI (PTEN) Reports Q3 Loss, Beats Revenue Estimates

Patterson-UTI (PTEN) came out with a quarterly loss of 0.06pershareversustheZacksConsensusEstimateofalossof0.06 per share versus the Zacks Consensus Estimate of a loss of 0.1. This compares to break-even earnings per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +40.00%. A quarter ago, it was expected that this provider of onshore contract drilling services would post a loss of 0.04persharewhenitactuallyproducedalossof0.04 per share when it actually produced a loss of 0.06, delivering a surprise of -50%.Over the las ...