PTEN FY 2013 Earnings Report — Patterson-UTI Energy, Inc. Revenue & Financial Results | Market Cap Arena

Patterson-UTI Energy, Inc.PTEN

FY 2013 Earnings

Reported February 14, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$2.7B	—	$2.7B	—	-0.3%
Op. Income	$322M	—	$497M	—	-35.2%
Gross Margin	14.5%	—	19.4%	—	-5.0pp
Net Margin	6.9%	—	11.0%	—	-4.1pp
EPS (Diluted)	$1.28	—	$1.96	—	-34.7%
Free Cash Flow	$226M	—	$31M	—	622.2%

Revenue Flow

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$2.3B
GROSS PROFIT	$393M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$74M
SG&A Expenses	$74M
Other Expenses	$0
Operating Expenses	$74M
Cost & Expenses	$2.4B
OPERATING INCOME	$322M
Interest Income	$918.0K
Interest Expense	$28M
Other Income/Expenses	-$26M
INCOME BEFORE TAX	$296M
Income Tax Expense	$108M
Net Income from Continuing Ops	$188M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$188M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$186M
D&A	$597M
EBIT	$325M
EBITDA	$922M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$2.3B
GROSS PROFIT	$393M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$74M
SG&A Expenses	$74M
Other Expenses	$0
Operating Expenses	$74M
Cost & Expenses	$2.4B
OPERATING INCOME	$322M
Interest Income	$918.0K
Interest Expense	$28M
Other Income/Expenses	-$26M
INCOME BEFORE TAX	$296M
Income Tax Expense	$108M
Net Income from Continuing Ops	$188M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$188M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$186M
D&A	$597M
EBIT	$325M
EBITDA	$922M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$188M
Depreciation & Amortization	$597M
Stock-Based Compensation	$26M
Deferred Income Tax	$51M
Other Non-Cash Items	-$3M
Change in Working Capital	$30M
OPERATING CASH FLOW	$889M
Capital Expenditure	-$662M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$10M
NET CASH FROM INVESTING	-$652M
Net Debt Issuance	-$6M
Common Stock Repurchased	-$74M
Common Dividends Paid	-$29M
Other Financing Activities	$12M
NET CASH FROM FINANCING	-$97M
FREE CASH FLOW	$226M
Net Change in Cash	$139M

Balance Sheet

Item	Amount
Cash & Equivalents	$250M
Short-Term Investments	$0
Net Receivables	$452M
Inventory	$21M
Other Current Assets	$86M
TOTAL CURRENT ASSETS	$809M
PP&E (Net)	$3.7B
Goodwill	$154M
Intangible Assets	$14M
Long-Term Investments	-$33M
Tax Assets	$33M
Other Non-Current Assets	$23M
TOTAL NON-CURRENT ASSETS	$3.9B
TOTAL ASSETS	$4.7B
Account Payables	$173M
Short-Term Debt	$10M
Deferred Revenue	$0
Other Current Liabilities	$40M
TOTAL CURRENT LIABILITIES	$354M
Long-Term Debt	$683M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$888M
Other Non-Current Liabilities	$6M
TOTAL NON-CURRENT LIABILITIES	$1.6B
TOTAL LIABILITIES	$1.9B
Common Stock	$2M
Additional Paid-In Capital	$914M
Retained Earnings	$2.7B
Treasury Stock	-$881M
Accum. Other Comp. Income	$14M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.8B
Minority Interest	$0
TOTAL EQUITY	$2.8B
TOTAL LIABILITIES & EQUITY	$4.7B
Total Debt	$693M
Net Debt	$443M