Patterson-UTI expects Q4 drilling services adjusted gross profit of about $150M while keeping 2026 capex below $600M

What happened: Patterson-UTI Energy (PTEN) said on its Q3 2026 earnings call that it expects fourth quarter drilling services adjusted gross profit of about $150M and plans to keep 2026 capital spending below $600M. Key numbers: Q4 drilling services adjusted gross profit about $150M; 2026 capex below $600M. Why it matters: The CEO said the recovery in U.S. onshore activity gained momentum in the third quarter, with activity levels up significantly versus earlier in the year, supported by strong field-level performance.

Patterson-UTI Energy (PTEN) said on its Q3 2026 earnings call that it expects fourth quarter drilling services adjusted gross profit of about $150M and plans to keep 2026 capital spending below $600M.

The CEO said the recovery in U.S. onshore activity gained momentum in the third quarter, with activity levels up significantly versus earlier in the year, supported by strong field-level performance.