Patterson UTI-Energy Announces Advance In Q2 Bottom Line, but misses estimates

(RTTNews) - Patterson UTI-Energy (PTEN) revealed a profit for its second quarter that increased from the same period last year but missed the Street estimates.

The company's earnings totaled $84.61 million, or $0.40 per share. This compares with $21.89 million, or $0.10 per share, in last year's second quarter.

Analysts on average had expected the company to earn $0.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.0% to $758.89 million from $622.24 million last year.

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

-Earnings (Q2): $84.61 Mln. vs. $21.89 Mln. last year. -EPS (Q2): $0.40 vs. $0.10 last year. -Analyst Estimate: $0.44 -Revenue (Q2): $758.89 Mln vs. $622.24 Mln last year.