Patterson-UTI Energy Inc (PTEN)
Pretax margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 307,444 | 322,553 | 390,287 | 315,574 | 167,862 | -310,470 | -474,765 | -617,713 | -717,247 | -478,679 | -503,142 | -553,509 | -931,018 | -908,998 | -1,110,126 | -1,000,052 | -530,378 | -643,644 | -408,971 | -368,491 |
| Revenue (ttm) | US$ in thousands | 4,096,384 | 3,310,459 | 3,031,160 | 2,893,593 | 2,609,966 | 2,279,773 | 1,910,447 | 1,579,937 | 1,311,774 | 1,080,833 | 929,484 | 887,810 | 1,091,992 | 1,363,488 | 1,745,348 | 2,168,419 | 2,430,209 | 2,733,849 | 3,011,238 | 3,190,522 |
| Pretax margin | 7.51% | 9.74% | 12.88% | 10.91% | 6.43% | -13.62% | -24.85% | -39.10% | -54.68% | -44.29% | -54.13% | -62.35% | -85.26% | -66.67% | -63.60% | -46.12% | -21.82% | -23.54% | -13.58% | -11.55% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $307,444K ÷ $4,096,384K
= 7.51%
Patterson-UTI Energy Inc's pretax margin has shown a fluctuating trend over the past eight quarters. The company experienced a significant improvement in pretax margin from Q1 2022 to Q3 2023, reaching a peak of 12.73% in Q2 2023. However, the pretax margin declined in Q4 2023 to 7.41%.
Although the pretax margin has been positive in recent quarters, it is important to note that Patterson-UTI Energy Inc posted negative pretax margins in Q2 and Q3 of 2022, indicating challenges during that period. Overall, the company's pretax margin performance has been volatile, reflecting potential fluctuations in profitability before accounting for taxes.
Peer comparison
Dec 31, 2023