Patterson-Uti Energy Inc. (PTEN) reported that its fourth-quarter net loss widened to $107 million, or $0.57 per share from $85.9 million or $0.44 per share in the fourth quarter of 2019.
Revenues for the fourth quarter of 2020 were $221 million, compared to $492 million for the fourth quarter of 2019.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.62 per share and revenues of $218.12 million for the quarter. Analysts' estimates typically exclude special items.
The company declared a quarterly dividend on its common stock of $0.02 per share, payable on March 18, 2021, to holders of record as of March 4, 2021.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.