💨 Abstract

Patterson-UTI Energy Inc. reported a second-quarter loss of $49.1 million, or $0.13 per share, missing analysts' expectations. Adjusted losses were $0.06 per share. However, the company's revenue of $1.22 billion surpassed forecasts of $1.21 billion. Despite the better-than-anticipated revenue, the significant loss highlights ongoing challenges.

Courtesy: WTOP Staff