Precision Drilling Earnings: Everything You Must Know Now

Precision Drilling Corporation (NYSE:PDS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

Precision Drilling Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $0.21 in the quarter versus EPS of $0.36 in the year-earlier quarter.

Revenue: Decreased 12.1% to $533.94 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Precision Drilling Corporation reported adjusted EPS income of $0.21 per share. By that measure, the company beat the mean analyst estimate of $0.07. It beat the average revenue estimate of $488.75 million.

Quoting Management: Kevin Neveu, Precision”s President and Chief Executive Officer, stated: “While 2012 finished with softening demand for our services in our Canadian and U.S. markets I am pleased that we continue to see excellent opportunities to deploy our High Performance, High Value rigs internationally, expanding our breadth in the Arabian Gulf and with integrated service providers in Mexico. Like most, we remain cautious on our outlook for near term energy services growth in North America, but remain firm believers in the long term opportunities for drilling and development of unconventional hydrocarbon resources.”

Key Stats (on next page)…

Revenue increased 8.38% from $492.67 million in the previous quarter. EPS increased 50% from $0.14 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.27 to a profit $0.28. For the current year, the average estimate has moved down from a profit of $0.83 to a profit of $0.67 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)