2023-04-26 18:06:16 ET
- Patterson-UTI Energy press release ( NASDAQ: PTEN ): Q1 GAAP EPS of $0.46 beats by $0.10 .
- Revenue of $791.8M (+55.4% Y/Y) beats by $34.39M .
- PTEN generated $234 million of net cash provided by operating activities, which after capital expenditures resulted in $117 million of free cash flow.
- Board has approved an increase in PTEN's share repurchase authorization to $300 million.
- Lowered 2023 capital expenditure forecast from $550 million to $510 million.
For further details see:
Patterson-UTI Energy Q1 results beat estimates, co approves increase to share buyback