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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