Flowco Holdings (FLOC) and Patterson-UTI Energy (PTEN) have both reported strong financial performances in Q1 2026 amidst a recovering oilfield services market, with FLOC achieving revenues of $209.5 million and adjusted EBITDA of $85.5 million, while PTEN recorded total revenues of $1.1 billion and adjusted EBITDA of $205 million. Despite a net loss for PTEN, the decline was less than anticipated, marking a rebound in drilling and completions activity in the U.S.
Flowco’s Production Solutions segment was pivotal, generating $140 million in revenues, while its rental-heavy model contributed to a stable cash flow, accounting for nearly 60% of total revenues. In contrast, Patterson-UTI operated 92 U.S. rigs on average, and its Completion Services segment brought in $680 million, reflecting strong equipment utilization despite recent disruptions. Both companies have seen significant stock price increases, with FLOC up nearly 70% and PTEN soaring 118.4% over the past six months.
While Flowco boasts stronger margins with a 40.8% adjusted EBITDA margin, Patterson-UTI trades at a more attractive valuation of about 1.5 times its forward price-to-book ratio compared to Flowco’s over 7 times. Future earnings projections suggest substantial growth for PTEN by 2027, making it a more appealing choice according to analysts.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
