Patterson UTI-Energy Q4 Loss increases, but misses estimates

(RTTNews) - Patterson UTI-Energy (PTEN) revealed Loss for its fourth quarter that increased from last year and missed the Street estimates.

The company's earnings came in at -$361.83 million, or -$1.68 per share. This compares with -$106.53 million, or -$0.57 per share, in last year's fourth quarter.

Analysts on average had expected the company to earn -$0.35 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 111.3% to $466.49 million from $220.80 million last year.

Patterson UTI-Energy earnings at a glance (GAAP) :

-Earnings (Q4): -$361.83 Mln. vs. -$106.53 Mln. last year. -EPS (Q4): -$1.68 vs. -$0.57 last year. -Analyst Estimate: -$0.35 -Revenue (Q4): $466.49 Mln vs. $220.80 Mln last year.