Precision Drilling Corp reports results for the quarter ended in December - Earnings Summary

Precision Drilling(Calgary)

06/02/2024 14:30

* Precision Drilling Corp  PD.TO  reported quarterly
adjusted
earnings of C$8.76​​ per share for the quarter ended in
December, higher than the same quarter last year, when the
company reported EPS of 27 cents.  The mean expectation of
seven analysts for the quarter was for earnings of C$2.17 per
share. Wall Street expected results to range from C$1.54 
to C$2.72 per share.
    * Revenue fell 0.7% to C$506.87 million from a year ago;
analysts
expected C$488.38 million. 
    * Precision Drilling Corp's reported EPS for the quarter was
C$9.81​.
    * The company reported quarterly net income of C$152.1
million.
    * Precision Drilling Corp shares had risen by 11.0% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 14.6%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 11 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the oil & gas
drilling
peer group is also "buy"

Wall Street's median 12-month price target for Precision
Drilling Corp is C$125.00 
This summary was machine generated from LSEG data February 6 at
02:30 p.m. UTC. ​All figures in Canadian dollars unless
otherwise stated. (For questions concerning the data in this
report, contact Estimates.Support@lseg.com. For any other
questions or feedback, contact
RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      2.17           8.76           Beat
 Sep. 30 2023      2.03           1.45           Missed
 Jun. 30 2023      1.31           1.63           Beat
 Mar. 31 2023      4.24           5.57           Beat