Patterson-UTI crushed Q2 2026 expectations with $1.23B in revenue—beating forecasts despite flat year-over-year growth—and posted a narrower loss per share at -5 cents. CEO Andy Hendricks is upbeat, citing rising activity and momentum across all business lines. The company’s adjusted EBITDA margin held steady at 18.9%, signaling stable cost control, while free cash flow surged to $52.6M—up from -$4.5M last year—showing improved operational cash conversion. The stock held steady post-report, but the numbers paint a picture of resilience and operational strength.
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