HOUSTON (AP) — HOUSTON (AP) — Patterson-UTI Energy Inc. (PTEN) on Wednesday reported a loss of $19.6 million in its second quarter.
The Houston-based company said it had a loss of 5 cents per share. Earnings, adjusted for one-time gains and costs, came to less than 1 cent on a per-share basis.
The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The provider of onshore contract drilling services posted revenue of $1.23 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $1.15 billion.
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