$PTEN
PATTERSON UTI ENERGY INC

2024 Q3 Form 10-Q Financial Statement

#000162828024033296 Filed on July 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $1.357B $1.348B
YoY Change 34.19% 77.65%
Cost Of Revenue $1.012B $971.2M
YoY Change 46.34% 98.97%
Gross Profit $345.3M $377.0M
YoY Change 7.91% 39.23%
Gross Profit Margin 25.44% 27.97%
Selling, General & Admin $65.70M $64.58M
YoY Change 45.66% 94.18%
% of Gross Profit 19.02% 17.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $374.7M $267.6M
YoY Change 99.3% 111.05%
% of Gross Profit 108.5% 70.99%
Operating Expenses $65.70M $64.58M
YoY Change 45.66% -59.76%
Operating Profit -$990.6M $45.23M
YoY Change -10308.46% -59.0%
Interest Expense -$17.25M -$16.05M
YoY Change -210.37% 88.2%
% of Operating Profit -35.48%
Other Income/Expense, Net -$17.96M -$15.82M
YoY Change 27.27% -781.1%
Pretax Income -$1.009B $29.41M
YoY Change 22780.9% -70.11%
Income Tax -$30.26M $17.79M
% Of Pretax Income 60.48%
Net Earnings -$978.8M $11.08M
YoY Change -1957622.0% -86.91%
Net Earnings / Revenue -72.12% 0.82%
Basic Earnings Per Share -$2.50 $0.03
Diluted Earnings Per Share -$2.50 $0.03
COMMON SHARES
Basic Shares Outstanding 393.0M shares 401.7M shares
Diluted Shares Outstanding 391.7M shares 399.6M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $115.5M $75.04M
YoY Change 72.36% -50.07%
Cash & Equivalents $113.4M $72.44M
Short-Term Investments
Other Short-Term Assets $150.2M $165.0M
YoY Change -6.5% 79.44%
Inventory $172.8M $172.4M
Prepaid Expenses $42.83M $50.39M
Receivables $863.8M $866.9M
Other Receivables $35.21M $35.73M
Total Short-Term Assets $1.302B $1.279B
YoY Change -8.57% 59.66%
LONG-TERM ASSETS
Property, Plant & Equipment $3.095B $3.236B
YoY Change -8.65% 41.79%
Goodwill $487.4M $1.377B
YoY Change -64.5%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $24.09M $21.57M
YoY Change 30.26% -23.99%
Total Long-Term Assets $4.661B $5.743B
YoY Change -22.26% 147.98%
TOTAL ASSETS
Total Short-Term Assets $1.302B $1.279B
Total Long-Term Assets $4.661B $5.743B
Total Assets $5.964B $7.022B
YoY Change -19.63% 125.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $493.4M $476.5M
YoY Change -14.9% 94.03%
Accrued Expenses $326.8M $329.2M
YoY Change -16.19% 73.66%
Deferred Revenue $13.31M $14.05M
YoY Change -53.96%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $9.513M $12.59M
YoY Change -21.05%
Total Short-Term Liabilities $858.4M $851.2M
YoY Change -17.23% 87.36%
LONG-TERM LIABILITIES
Long-Term Debt $1.219B $1.219B
YoY Change -0.71% 48.24%
Other Long-Term Liabilities $13.60M $14.05M
YoY Change -47.84% -77.22%
Total Long-Term Liabilities $1.233B $1.233B
YoY Change -1.69% 39.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $858.4M $851.2M
Total Long-Term Liabilities $1.233B $1.233B
Total Liabilities $2.392B $2.414B
YoY Change -6.61% 72.78%
SHAREHOLDERS EQUITY
Retained Earnings -$956.2M $54.21M
YoY Change -3406.15% -13.82%
Common Stock $6.448B $6.435B
YoY Change 0.74% 100.35%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.930B $1.890B
YoY Change 22.29% 21.55%
Treasury Stock Shares
Shareholders Equity $3.562B $4.599B
YoY Change
Total Liabilities & Shareholders Equity $5.964B $7.022B
YoY Change -19.63% 125.28%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$978.8M $11.08M
YoY Change -1957622.0% -86.91%
Depreciation, Depletion And Amortization $374.7M $267.6M
YoY Change 99.3% 111.05%
Cash From Operating Activities $296.3M $197.5M
YoY Change 89.81% 21.29%
INVESTING ACTIVITIES
Capital Expenditures $180.6M $130.5M
YoY Change 12.57% -1.42%
Acquisitions
YoY Change
Other Investing Activities $5.276M $8.489M
YoY Change -101.28% 30.06%
Cash From Investing Activities -$175.3M -$122.0M
YoY Change -69.32% -3.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -78.79M -170.9M
YoY Change -123.83% 289.23%
NET CHANGE
Cash From Operating Activities 296.3M 197.5M
Cash From Investing Activities -175.3M -122.0M
Cash From Financing Activities -78.79M -170.9M
Net Change In Cash 42.18M -95.45M
YoY Change -149.8% 1277.29%
FREE CASH FLOW
Cash From Operating Activities $296.3M $197.5M
Capital Expenditures $180.6M $130.5M
Free Cash Flow $115.7M $67.01M
YoY Change -2777.05% 119.98%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Proceeds From Sale Of Productive Assets
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us-gaap Payments To Acquire Other Investments
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us-gaap Payments To Acquire Other Investments
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments Of Dividends
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us-gaap Payments Of Dividends
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us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
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us-gaap Finance Lease Principal Payments
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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985000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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0 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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12735000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Interest Paid Capitalized
InterestPaidCapitalized
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us-gaap Interest Paid Capitalized
InterestPaidCapitalized
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InterestPaidNet
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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IncreaseDecreaseInPayablesRelatedToPurchasesOfPropertyAndEquipment
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pten Increase Decrease In Payables Related To Purchases Of Property And Equipment
IncreaseDecreaseInPayablesRelatedToPurchasesOfPropertyAndEquipment
12720000 usd
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NetDecreaseIncreaseInDepositsOnEquipmentPurchases
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NetDecreaseIncreaseInDepositsOnEquipmentPurchases
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pten Property And Equipment Through Exchange Of Lease Right Of Use Asset
PropertyAndEquipmentThroughExchangeOfLeaseRightOfUseAsset
26133000 usd
pten Property And Equipment Through Exchange Of Lease Right Of Use Asset
PropertyAndEquipmentThroughExchangeOfLeaseRightOfUseAsset
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pten Derecognition Of Right Of Use Asset
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pten Derecognition Of Right Of Use Asset
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0 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
72444000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2024Q2 us-gaap Restricted Cash
RestrictedCash
2592000 usd
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
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CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
75036000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
150288000 usd
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
103000000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
95100000 usd
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
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CY2024Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
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CY2024Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
433000000 usd
CY2024Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
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CY2024Q2 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
131134000 usd
CY2023Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
141311000 usd
CY2024Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
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CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
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CY2024Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
34192000 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
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CY2024Q2 us-gaap Inventory Net
InventoryNet
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CY2023Q4 us-gaap Inventory Net
InventoryNet
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CY2024Q2 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
35731000 usd
CY2023Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
26949000 usd
CY2024Q2 pten Workers Compensation Receivable
WorkersCompensationReceivable
33025000 usd
CY2023Q4 pten Workers Compensation Receivable
WorkersCompensationReceivable
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CY2024Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
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CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
46394000 usd
CY2024Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
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CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
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CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
165003000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
141122000 usd
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PropertyPlantAndEquipmentGross
9381342000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6145286000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5811809000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3236056000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3340412000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
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us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
-2293000 usd
CY2024Q2 us-gaap Goodwill
Goodwill
1377448000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
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CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
107477000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
992189000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1097832000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
46135000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1051697000 usd
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
30900000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
400000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
61300000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
700000 usd
CY2024Q2 pten Accrued Salaries Wages Payroll Taxes And Benefits Current
AccruedSalariesWagesPayrollTaxesAndBenefitsCurrent
103581000 usd
CY2023Q4 pten Accrued Salaries Wages Payroll Taxes And Benefits Current
AccruedSalariesWagesPayrollTaxesAndBenefitsCurrent
129982000 usd
CY2024Q2 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
74716000 usd
CY2023Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
67396000 usd
CY2024Q2 pten Property Sales Use And Other Taxes Current
PropertySalesUseAndOtherTaxesCurrent
64895000 usd
CY2023Q4 pten Property Sales Use And Other Taxes Current
PropertySalesUseAndOtherTaxesCurrent
62194000 usd
CY2024Q2 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
11068000 usd
CY2023Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
11524000 usd
CY2024Q2 us-gaap Interest Payable Current
InterestPayableCurrent
17980000 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
19172000 usd
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
14052000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
98914000 usd
CY2024Q2 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
0 usd
CY2023Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
3437000 usd
CY2024Q2 pten Accrued Restructuring Expense Current
AccruedRestructuringExpenseCurrent
5468000 usd
CY2023Q4 pten Accrued Restructuring Expense Current
AccruedRestructuringExpenseCurrent
15113000 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
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CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
38536000 usd
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
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CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
446268000 usd
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1240022000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2024Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
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CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
8919000 usd
CY2024Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
12591000 usd
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
12226000 usd
CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1219156000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1224941000 usd
CY2015Q1 us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.0150
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
6226000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
6396000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
482505000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
344895000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
400000000 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
1240022000 usd
CY2024Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
48000000.0 usd
CY2024Q2 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
154000000 usd
CY2024Q2 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
25800000 usd
CY2024Q2 us-gaap Unrecorded Unconditional Purchase Obligation Due In Remainder Of Fiscal Year
UnrecordedUnconditionalPurchaseObligationDueInRemainderOfFiscalYear
16900000 usd
CY2024Q2 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary
6500000 usd
CY2024Q2 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
2400000 usd
CY2024Q1 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1000000000 usd
CY2024Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
819000000 usd
CY2023Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
105580011 shares
CY2023Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1657675000 usd
CY2024Q2 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
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CY2024Q2 us-gaap Treasury Stock Value
TreasuryStockValue
1889775000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
23.36
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
28.87
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2210398 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
21.72
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2210398 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
21.72
pten Share Based Payment Arrangement Performance Payout May Not Exceed Target Number Of Shares If Absolute Tsr Threshold
ShareBasedPaymentArrangementPerformancePayoutMayNotExceedTargetNumberOfSharesIfAbsoluteTSRThreshold
0
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.605
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.140
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.374
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.156
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
11077000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
84614000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
62312000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
184292000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
399558000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
207839000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
403870000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
209952000 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.41
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.88
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
11077000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
84614000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
62312000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
184292000 usd
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
399558000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
208984000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
403870000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
211188000 shares
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.15
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.87
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8584000 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6084000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8584000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2572000 shares
CY2024Q2 us-gaap Revenues
Revenues
1348194000 usd
CY2023Q2 us-gaap Revenues
Revenues
758885000 usd
us-gaap Revenues
Revenues
2858554000 usd
us-gaap Revenues
Revenues
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CY2024Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
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CY2023Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
1212000 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
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us-gaap Investment Income Interest
InvestmentIncomeInterest
2452000 usd
CY2024Q2 us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
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CY2023Q2 us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
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us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
36248000 usd
us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
18564000 usd
CY2024Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
224000 usd
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2323000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1074000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3809000 usd
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
29406000 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
98379000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
101109000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
218242000 usd
CY2024Q2 pten Depreciation Depletion Amortization And Impairment
DepreciationDepletionAmortizationAndImpairment
267638000 usd
CY2023Q2 pten Depreciation Depletion Amortization And Impairment
DepreciationDepletionAmortizationAndImpairment
126814000 usd
pten Depreciation Depletion Amortization And Impairment
DepreciationDepletionAmortizationAndImpairment
542594000 usd
pten Depreciation Depletion Amortization And Impairment
DepreciationDepletionAmortizationAndImpairment
254994000 usd
CY2024Q2 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
130508000 usd
CY2023Q2 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
132394000 usd
us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
357449000 usd
us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
249995000 usd
CY2024Q2 us-gaap Assets
Assets
7022331000 usd
CY2023Q4 us-gaap Assets
Assets
7420031000 usd
CY2024Q1 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1000000000 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001628280-24-033296-index-headers.html Edgar Link pending
0001628280-24-033296-index.html Edgar Link pending
0001628280-24-033296.txt Edgar Link pending
0001628280-24-033296-xbrl.zip Edgar Link pending
ex102pten-psuagreement.htm Edgar Link pending
ex103ptenqualifiedretireep.htm Edgar Link pending
ex311302certificationofceo.htm Edgar Link pending
ex312302certificationofcfo.htm Edgar Link pending
ex321906certification2024q2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
pten-20240630.htm Edgar Link pending
pten-20240630.xsd Edgar Link pending
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pten-20240630_cal.xml Edgar Link unprocessable
pten-20240630_def.xml Edgar Link unprocessable
pten-20240630_lab.xml Edgar Link unprocessable
pten-20240630_pre.xml Edgar Link unprocessable
pten-20240630_htm.xml Edgar Link completed
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report.css Edgar Link pending
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