Precision Drilling Corp reports results for the quarter ended June 30 - Earnings Summary

• Precision Drilling Corp PD.TO reported quarterly adjusted earnings of C$1.07​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of C$1.44. The mean expectation of five analysts for the quarter was for earnings of 12 cents per share. Wall Street expected results to range from -22 cents to 24 cents per share.

• Revenue fell 5.3% to C$406.62 million from a year ago; analysts expected C$401.77 million.

• Precision Drilling Corp's reported EPS for the quarter was C$1.07​.

• The company reported quarterly net income of C$16.27 million.

• Precision Drilling Corp shares had risen by 12.9% this quarter and lost 12.7% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 28.5% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the oil & gas drilling peer group is also "buy"

This summary was machine generated from LSEG data July 29 at 11:57 p.m. UTC. ​All figures in Canadian dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)