PATTERSON UTI ENERGY INCPTEN

PATTERSON UTI ENERGY INC Earnings Per Share Disclosure

10-KFiled Feb 10, 20262 min read
Earnings Per Share
We provide a dual presentation of our net income (loss) per common share in our consolidated statements of operations: basic net income (loss) per common share (“Basic EPS”) and diluted net income (loss) per common share (“Diluted EPS”).
Basic EPS excludes dilution and is determined by dividing the earnings attributable to common stockholders by the weighted average number of common shares outstanding during the period.
Diluted EPS is based on the weighted average number of common shares outstanding plus the dilutive effect of potential common shares, including stock options and non-vested performance units and non-vested restricted stock units. The dilutive effect of stock options, non-vested performance units and non-vested restricted stock units is determined using the treasury stock method.
The following table presents information necessary to calculate net income (loss) per share for the years ended December 31, 2025, 2024 and 2023, as well as potentially dilutive securities excluded from the weighted average number of diluted common shares outstanding because their inclusion would have been anti-dilutive (in thousands, except per share amounts):
 202520242023
BASIC EPS:
Net income (loss) attributable to common stockholders$(93,635)$(968,031)$246,292 
Weighted average number of common shares outstanding, excluding non-vested restricted stock units383,465 397,196 279,501 
Basic net income (loss) per common share$(0.24)$(2.44)$0.88 
 
DILUTED EPS:
Net income (loss) attributable to common stockholders$(93,635)$(968,031)$246,292 
Weighted average number of common shares outstanding, including non-vested restricted stock units383,465397,196280,061
Diluted net income (loss) per common share$(0.24)$(2.44)$0.88 
Potentially dilutive securities excluded as anti-dilutive10,4367,6749,214

Historical Timeline

Fiscal YearFiled
2025Feb 10, 2026Showing above
2024Feb 11, 2025
2023Feb 27, 2024
2022Feb 13, 2023
2021Feb 16, 2022
2020Feb 9, 2021
2019Feb 13, 2020
2018Feb 13, 2019

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

Income TaxesRevenueFair ValuePP&EGoodwill & IntangiblesLeasesSegmentsDebtCommitmentsNew StandardsPay vs Performance