Patterson-UTI: Q3 Earnings Snapshot

HOUSTON (AP) — HOUSTON (AP) — Patterson-UTI Energy Inc. (PTEN) on Wednesday reported third-quarter profit of $28.4 million.

On a per-share basis, the Houston-based company said it had profit of 7 cents. Earnings, adjusted for non-recurring gains, came to 4 cents per share.

The results matched Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for earnings of 4 cents per share.

The provider of onshore contract drilling services posted revenue of $1.34 billion in the period, beating Street forecasts. Seven analysts surveyed by Zacks expected $1.29 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PTEN at https://www.zacks.com/ap/PTEN