Precision Drilling (PDS) Tops Q4 EPS by $7.12, offers outlook

Precision Drilling (NYSE: PDS) reported Q4 EPS of Cdn$9.81, Cdn$7.12 better than the analyst estimate of Cdn$2.69. Revenue for the quarter came in at Cdn$506.87 million versus the consensus estimate of Cdn$491.57 million.

Outlook:

Company expects to reduce debt by C$150 million to C$200 million in 2024 and allocate 25% to 35% of free cash flow before debt repayments toward share repurchases.
Our 2024 capital budget is C$195 million, which is lower than the C$227 million invested in 2023.

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

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