Thursday, Patterson-UTI Energy Inc. (PTEN) reported a net loss for the third quarter of $18.6 million or $0.12 per share, compared with a net income of $109 million or $0.69 per share in the prior year period. On average, 12 analysts polled by Thomson Reuters expected the company to report loss of $0.16 per share for the quarter.
Revenues for the quarter fell to $176 million from $609 million in the comparable period. Fourteen analysts estimated revenues of $162.59 million for the quarter.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.