Precision Drilling (PDS) Tops Q2 EPS by 4c, Beats on Revenues

Precision Drilling (NYSE: PDS) reported Q2 EPS of ($0.12), $0.04 better than the analyst estimate of ($0.16). Revenue for the quarter came in at $276 million versus the consensus estimate of $219.47 million.

Second quarter revenue was $276 million, an increase of 68% over the second quarter of 2016.



Second quarter earnings before income taxes, gain on repurchase of unsecured senior notes, finance charges, foreign exchange, and depreciation and amortization (adjusted EBITDA see "Non- GAAP Measures") of $57 million was 152% higher than the second quarter of 2016.



Second quarter net loss was $36 million ($0.12 per share) compared with a net loss of $58 million ($0.20 per share) in the second quarter of 2016.

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Second quarter capital expenditures were $28 million, with full year capital spending expected to be $138 million.

For earnings history and earnings-related data on Precision Drilling (PDS) click here.

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