PTEN FY 2022 Earnings Report — Patterson-UTI Energy, Inc. Revenue & Financial Results | Market Cap Arena

Patterson-UTI Energy, Inc.PTEN

FY 2022 Earnings

Reported July 17, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$2.6B	—	$1.4B	—	95.1%
Op. Income	$211M	—	-$678M	—	131.1%
Gross Margin	12.0%	—	-42.3%	—	54.3pp
Net Margin	5.8%	—	-48.2%	—	54.1pp
EPS (Diluted)	$0.70	—	$-3.37	—	120.8%
Free Cash Flow	$129M	—	-$71M	—	282.7%

Revenue Flow

Item	Amount
REVENUE	$2.6B
Cost of Revenue	$2.3B
GROSS PROFIT	$317M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$117M
SG&A Expenses	$117M
Other Expenses	-$11M
Operating Expenses	$106M
Cost & Expenses	$2.4B
OPERATING INCOME	$211M
Interest Income	$360.0K
Interest Expense	$40M
Other Income/Expenses	-$43M
INCOME BEFORE TAX	$168M
Income Tax Expense	$13M
Net Income from Continuing Ops	$155M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$155M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$155M
D&A	$484M
EBIT	$208M
EBITDA	$692M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.6B
Cost of Revenue	$2.3B
GROSS PROFIT	$317M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$117M
SG&A Expenses	$117M
Other Expenses	-$11M
Operating Expenses	$106M
Cost & Expenses	$2.4B
OPERATING INCOME	$211M
Interest Income	$360.0K
Interest Expense	$40M
Other Income/Expenses	-$43M
INCOME BEFORE TAX	$168M
Income Tax Expense	$13M
Net Income from Continuing Ops	$155M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$155M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$155M
D&A	$484M
EBIT	$208M
EBITDA	$692M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$155M
Depreciation & Amortization	$484M
Stock-Based Compensation	$21M
Deferred Income Tax	$7M
Other Non-Cash Items	-$14M
Change in Working Capital	-$87M
OPERATING CASH FLOW	$566M
Capital Expenditure	-$437M
Acquisitions (Net)	$26M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$3M
NET CASH FROM INVESTING	-$413M
Net Debt Issuance	-$20M
Common Stock Repurchased	-$70M
Common Dividends Paid	-$43M
Other Financing Activities	-$455.0K
NET CASH FROM FINANCING	-$133M
FREE CASH FLOW	$129M
Net Change in Cash	$20M

Balance Sheet

Item	Amount
Cash & Equivalents	$138M
Short-Term Investments	$0
Net Receivables	$611M
Inventory	$65M
Other Current Assets	$3M
TOTAL CURRENT ASSETS	$829M
PP&E (Net)	$2.3B
Goodwill	$0
Intangible Assets	$6M
Long-Term Investments	$0
Tax Assets	$3M
Other Non-Current Assets	$11M
TOTAL NON-CURRENT ASSETS	$2.3B
TOTAL ASSETS	$3.1B
Account Payables	$237M
Short-Term Debt	$0
Deferred Revenue	$110M
Other Current Liabilities	$68M
TOTAL CURRENT LIABILITIES	$551M
Long-Term Debt	$831M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$29M
Other Non-Current Liabilities	$48M
TOTAL NON-CURRENT LIABILITIES	$927M
TOTAL LIABILITIES	$1.5B
Common Stock	$3M
Additional Paid-In Capital	$3.2B
Retained Earnings	-$87M
Treasury Stock	-$1.5B
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$3.1B
Total Debt	$856M
Net Debt	$718M