Precision Drilling: 2Q Earnings Snapshot
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.