Precision Drilling Earnings: Here’s Why the Stock is Rising Now

Precision Drilling Corporation (NYSE:PDS) had a loss and met 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. Shares are down 5.64%%.

Precision Drilling Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $0.00 in the quarter versus EPS of $0.06 in the year-earlier quarter.

Revenue: Rose 0.82% to $378.9 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Precision Drilling Corporation reported adjusted EPS loss of $0 per share. By that measure, the company missed the mean analyst estimate of $0. It beat the average revenue estimate of $359.34 million.

Quoting Management: Kevin Neveu, President and Chief Executive Officer, stated: “I am pleased that several years of aggressive fleet repositioning, highlighted by Super Series rig investments, continues to generate sustained financial returns which are reflected in our resilient activity levels and firm day rates despite the competitive pressures in the U.S. and weather related delays in the Canadian post break-up seasonal recovery.”

Key Stats (on next page)…

Revenue decreased 35.37% from $586.27 million in the previous quarter. EPS decreased to $0.00 in the quarter versus EPS of $0.33 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.19 to a profit $0.18. For the current year, the average estimate has moved down from a profit of $0.73 to a profit of $0.72 over the last ninety days.

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