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

Precision Drilling(Calgary)

26/04/2024 02:31

* Precision Drilling Corp  PD.TO  reported quarterly
adjusted
earnings of C$2.53​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of C$5.57.  The mean expectation of six analysts for the
quarter was for earnings of C$2.64 per share. Wall Street
expected results to range from C$2.21  to C$2.82 per share.
    * Revenue fell 5.5% to C$527.79 million from a year ago;
analysts
expected C$529.40 million. 
    * Precision Drilling Corp's reported EPS for the quarter was
C$2.53​.
    * The company reported quarterly net income of C$36.52
million.
    * Precision Drilling Corp shares had risen by 2.1% this
quarter and gained 29.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 40.7%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 12 "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$128.00 
This summary was machine generated from LSEG data April 26 at
01:31 a.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
 Mar. 31 2024      2.64           2.53           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