Patterson-UTI Energy Provides Update on Expected Fourth Quarter Financial Results
HOUSTON, TX / ACCESSWIRE / January 4, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) announced today that it expects its net income for the fourth quarter of 2022 to exceed $100 million and its adjusted EBITDA for the fourth quarter of 2022 to surpass $230 million, based on current projections. The Company also demonstrated its commitment during the fourth quarter to returning capital to its shareholders while maintaining a strong balance sheet. In aggregate, the Company returned $74.3 million to shareholders in the fourth quarter through its regularly scheduled dividend and the purchase of approximately 3.3 million shares of its common stock for $57.2 million. The Company also repurchased
