$PTEN
PATTERSON UTI ENERGY INC

2016 Q4 Form 10-Q Financial Statement

#000156459016026599 Filed on October 31, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $246.9M $206.1M $422.3M
YoY Change -27.08% -51.18% -50.07%
Cost Of Revenue $189.4M $153.6M $277.8M
YoY Change -16.49% -44.71% -50.61%
Gross Profit $57.50M $52.50M $144.4M
YoY Change -48.52% -63.64% -48.99%
Gross Profit Margin 23.29% 25.47% 34.2%
Selling, General & Admin $17.50M $16.60M $18.58M
YoY Change 5.42% -10.67% -1.66%
% of Gross Profit 30.43% 31.62% 12.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $157.2M $163.5M $332.2M
YoY Change -10.33% -50.78% 39.64%
% of Gross Profit 273.39% 311.43% 230.06%
Operating Expenses $170.7M $175.9M $18.58M
YoY Change -11.05% 846.62% -1.66%
Operating Profit -$113.2M -$123.4M -$329.5M
YoY Change 47.44% -62.55% -1187.83%
Interest Expense -$8.600M -$10.20M $9.254M
YoY Change -8.51% -210.22% 32.33%
% of Operating Profit
Other Income/Expense, Net $0.00 -$10.16M -$8.915M
YoY Change 13.99% 31.9%
Pretax Income -$121.8M -$133.6M -$338.4M
YoY Change 41.3% -60.53% -1538.17%
Income Tax -$43.70M -$133.9M -$112.5M
% Of Pretax Income
Net Earnings -$78.12M -$84.14M -$226.0M
YoY Change 33.18% -62.76% -1514.48%
Net Earnings / Revenue -31.64% -40.82% -53.52%
Basic Earnings Per Share -$0.53 -$0.58 -$1.54
Diluted Earnings Per Share -$0.53 -$0.58 -$1.54
COMMON SHARES
Basic Shares Outstanding 148.1M 146.3M 145.7M
Diluted Shares Outstanding 146.3M 145.7M

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.20M $37.00M $76.50M
YoY Change -68.93% -51.63% 98.19%
Cash & Equivalents $35.15M $36.97M $76.47M
Short-Term Investments
Other Short-Term Assets $41.32M $73.60M $41.38M
YoY Change 2.72% 77.85% -24.27%
Inventory $20.19M $19.90M $17.42M
Prepaid Expenses
Receivables $148.1M $146.0M $301.7M
Other Receivables $2.100M $3.900M $31.00M
Total Short-Term Assets $283.3M $280.3M $505.7M
YoY Change -41.77% -44.58% -32.4%
LONG-TERM ASSETS
Property, Plant & Equipment $3.409B $3.512B $4.023B
YoY Change -13.05% -12.71% 2.97%
Goodwill $86.23M $86.23M
YoY Change 0.0% -49.06%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.306M $27.00M $19.84M
YoY Change 0.58% 36.07% -2.78%
Total Long-Term Assets $3.489B $3.629B $4.172B
YoY Change -12.3% -13.03% -1.13%
TOTAL ASSETS
Total Short-Term Assets $283.3M $280.3M $505.7M
Total Long-Term Assets $3.489B $3.629B $4.172B
Total Assets $3.772B $3.909B $4.678B
YoY Change -15.52% -16.44% -5.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $125.7M $82.20M $165.5M
YoY Change 51.82% -50.35% -55.27%
Accrued Expenses $139.1M $154.2M $180.5M
YoY Change -13.93% -14.58% -1.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $50.00M
YoY Change -100.0% 400.0%
Total Short-Term Liabilities $264.8M $236.4M $396.1M
YoY Change -13.91% -40.31% -32.57%
LONG-TERM LIABILITIES
Long-Term Debt $598.4M $613.4M $815.0M
YoY Change -24.05% -24.74% 20.74%
Other Long-Term Liabilities $9.654M $10.40M $9.829M
YoY Change 7.27% 5.81% -2.06%
Total Long-Term Liabilities $608.1M $623.8M $9.829M
YoY Change -22.82% 6246.53% -98.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $264.8M $236.4M $396.1M
Total Long-Term Liabilities $608.1M $623.8M $9.829M
Total Liabilities $1.556B $1.585B $2.047B
YoY Change -20.96% -22.59% -2.93%
SHAREHOLDERS EQUITY
Retained Earnings $2.116B $2.532B
YoY Change -8.56%
Common Stock $1.045B $1.008B
YoY Change 3.24% 53188.05%
Preferred Stock
YoY Change
Treasury Stock (at cost) $911.1M $907.0M
YoY Change 0.45% 0.89%
Treasury Stock Shares $43.39M $43.21M
Shareholders Equity $2.249B $2.324B $2.631B
YoY Change
Total Liabilities & Shareholders Equity $3.805B $3.909B $4.678B
YoY Change -16.0% -16.44% -5.84%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$78.12M -$84.14M -$226.0M
YoY Change 33.18% -62.76% -1514.48%
Depreciation, Depletion And Amortization $157.2M $163.5M $332.2M
YoY Change -10.33% -50.78% 39.64%
Cash From Operating Activities $52.30M $70.80M $165.3M
YoY Change -72.96% -57.17% -19.8%
INVESTING ACTIVITIES
Capital Expenditures -$39.30M $28.68M -$144.6M
YoY Change -71.02% -119.83% -49.41%
Acquisitions
YoY Change
Other Investing Activities $3.500M $6.100M $5.200M
YoY Change -28.57% 17.31% -30.67%
Cash From Investing Activities -$35.80M -$22.50M -$139.4M
YoY Change -72.61% -83.86% -49.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.70M -221.3M -22.90M
YoY Change -29.76% 866.38% 169.41%
NET CHANGE
Cash From Operating Activities 52.30M 70.80M 165.3M
Cash From Investing Activities -35.80M -22.50M -139.4M
Cash From Financing Activities -17.70M -221.3M -22.90M
Net Change In Cash -1.200M -173.0M 3.000M
YoY Change -103.2% -5866.67% -103.72%
FREE CASH FLOW
Cash From Operating Activities $52.30M $70.80M $165.3M
Capital Expenditures -$39.30M $28.68M -$144.6M
Free Cash Flow $91.60M $42.12M $309.9M
YoY Change -72.16% -86.41% -37.0%

Facts In Submission

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AmortizationOfFinancingCosts
2000000
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
15000000
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
300000000
CY2016Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
300000000
CY2016Q3 us-gaap Long Term Debt
LongTermDebt
615000000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.358
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.338
CY2016Q3 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
574052000
CY2015Q4 us-gaap Long Term Debt
LongTermDebt
855000000

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