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

Precision Drilling(Calgary)

30/07/2024 23:51

* Precision Drilling Corp  PD.TO  reported quarterly
adjusted
earnings of C$1.44​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of C$1.63.  The mean expectation of six analysts for the
quarter was for earnings of 20 cents per share. Wall Street
expected results to range from -85 cents to 97 cents per share.
    * Revenue rose 0.8% to C$429.21 million from a year ago;
analysts
expected C$427.72 million. 
    * Precision Drilling Corp's reported EPS for the quarter was
C$1.44​.
    * The company reported quarterly net income of C$20.7
million.
    * Precision Drilling Corp shares had risen by 2.3% this
quarter and gained 36.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 66.7%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

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$129.49 
This summary was machine generated from LSEG data July 30 at
10:51 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
 Jun. 30 2024      0.20           1.44           Beat
 Jan. 1 0001                      2.53           
 Dec. 31 2023      2.17           8.76           Beat
 Sep. 30 2023      2.03           1.45           Missed