HOUSTON (AP) — HOUSTON (AP) — Patterson-UTI Energy Inc. (PTEN) on Wednesday reported a loss of $36.4 million in its third quarter.
On a per-share basis, the Houston-based company said it had a loss of 10 cents. Losses, adjusted for one-time gains and costs, came to 6 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The provider of onshore contract drilling services posted revenue of $1.18 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $1.17 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PTEN at https://www.zacks.com/ap/PTEN
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