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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