AP NEWS
Click to copy
Click to copy

Precision Drilling: 2Q Earnings Snapshot

July 25, 2019

CALGARY, Alberta (AP) _ Precision Drilling Corp. (PDS) on Thursday reported a loss of $10.3 million in its second quarter.

On a per-share basis, the Calgary, Alberta-based company said it had a loss of 4 cents.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.

The oilfield services company posted revenue of $268.7 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $261 million.

The company’s shares closed at $1.73. A year ago, they were trading at $3.43.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PDS at https://www.zacks.com/ap/PDS

All contents © copyright 2019 The Associated Press. All rights reserved.