Precision Drilling

Precision Drilling Corp. engages in the provision of onshore drilling, completion, and production services to the oil and natural gas industry. It operates through the following business segments: Contract Drilling Services and Completion and Production Services. The Contract Drilling Services segment includes rig and directional drilling, procurement and distribution of oilfield supplies, and the manufacture, sale, and repair of drilling equipment. The Completion and Production Services segment includes service rigs, oilfield equipment rental, and camp and catering services. The company was founded in 1951 and is headquartered in Calgary, Canada.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Precision Drilling excels in Q4, eyes debt reduction and expansion

Precision Drilling's Q4 performance exceeded expectations, showcasing strong revenue growth and margin discipline. While facing challenges in share-based compensation and CapEx, the company is well-positioned to capitalize on opportunities for debt reduction and expansion.

Precision Drilling (PDS) excels in Q1, eyes strategic growth

Precision Drilling's strong financial performance, focus on debt reduction, and strategic cost control measures position the company well for future growth. Challenges in rig fungibility and market shortages require careful navigation, while seizing opportunities in shifting demand landscapes is crucial for sustained success.

Precision Drilling surpasses Q2 expectations, eyes growth amid challenges

Precision Drilling's Q2 performance exceeded expectations, driven by strong financial results and successful debt reduction efforts.
The company's focus on reducing debt, expanding Evergreen solutions, and enhancing software offerings positions it well for future growth.
Challenges include potential delays in rig additions by smaller producers and rig capacity shortages in Canada, which require strategic solutions.

Precision Drilling reports strong Q3 results, focuses on debt reduction and Gulf region expansion

Precision Drilling's Q3 performance showcased strength in Canada but challenges in the U.S. The company's debt reduction strategy and focus on shareholder returns are key highlights. Opportunities lie in expanding presence in the Gulf region and strategic mergers.

Precision Drilling reports robust 2023 results, eyes international growth

Precision Drilling (PDS) delivered strong financial performance in 2023, focusing on debt reduction and shareholder value enhancement.
The company faces challenges in balancing increased activity levels with reduced international expenditures and managing debt reduction targets.
Opportunities lie in expanding international activities, enhancing shareholder returns, adopting automation technology, and leveraging disciplined market rates for growth.
Strategic priorities, market positioning, and technological advancements position Precision Drilling well for future growth and operational efficiency.

Precision Drilling surpasses Q1 expectations, eyes Canadian growth opportunities

Precision Drilling delivered strong Q1 results, focusing on debt reduction, shareholder returns, and operational efficiency. Challenges include market dynamics in the Lower 48 and cost range for international rig readiness. Opportunities lie in Canadian rig count growth, automation technology adoption, and potential rig movements.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Patterson-UTI Energy

Seadrill Ltd

With the Zacks Oil and Gas - Drilling market holding up pretty well, we prioritize companies like SDRL, PTEN and PDS over others.

3 Stocks in the Oil & Gas Drilling Industry With Steady Growth Paths

Alibaba

Cigna

Capital One

Coherent Corp

CVS Health

Devon Energy

iShares MSCI Japan ETF

iShares MSCI Japan Value ETF

Expedia

Franklin FTSE Japan ETF

First Republic Bank

GEO Group

Generac Holdings

JD.com

SPDR S&P Regional Banking ETF

Liberty Latin America Ltd.

Liberty Latin America

MGM Resorts

New York Community Bancorp

PacWest Bancorp

Invesco QQQ

Qurate Retail Inc

Qurate Retail Inc - Ordinary Shares - Series B

The RealReal

Michael Burry closed out most of his Q1 positions in the second quarter, reducing positions in Signet Jewelers, Liberty Latin America, and New York Community Bancorp. Burry more than doubled his position in The RealReal Inc. and added shares of The GEO Group. Burry purchased a substantial number of put contracts on the S&P 500 ETF and the Invesco Nasdaq 100 ETF and added new positions in Expedia Group, MGM Resorts International, Generac Holdings, and CVS Health Corporation.

Analyzing 13Fs: Michael Burry's Scion Asset Management Q2 Update

Precision Drilling Corporation (NYSE:PDS ) Q2 2023 Earnings Conference Call July 27, 2023 2:00 PM ET Company Participants Lavonne Zdunich - Director, IR Carey Ford - SVP and CFO Kevin Neveu - President and CEO Conference Call Participants Luke Lemoine - Piper Stanley Aaron MacNeil - TD Cowen Waqar Syed - ATB Capital Keith Mackey - RBC Capital Markets Cole Pereira - Stifel Kurt Hallead - Benchmark Operator Good day, and thank you for standing by. Welcome to the Precision Drilling Corporation 2023 Second Quarter Results Conference Call.

Precision Drilling Corporation (PDS) Q2 2023 Earnings Call Transcript

Precision Drilling (PDS) came out with quarterly earnings of $1.21 per share, beating the Zacks Consensus Estimate of $0.99 per share. This compares to loss of $1.42 per share a year ago.

Precision Drilling (PDS) Q2 Earnings and Revenues Top Estimates

CALGARY, Alberta, July 27, 2023 (GLOBE NEWSWIRE) -- This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this news release. This news release contains references to certain Financial Measures and Ratios, including Adjusted EBITDA (earnings before income taxes, loss (gain) on investments and other assets, gain on repurchase of unsecured senior notes, finance charges, foreign exchange, gain on asset disposals and depreciation and amortization), Funds Provided by (Used in) Operations, Net Capital Spending and Working Capital. These terms do not have standardized meanings prescribed under International Financial Reporting Standards (IFRS) and may not be comparable to similar measures used by other companies, see “Financial Measures and Ratios” later in this news release.

Precision Drilling Announces 2023 Second Quarter Unaudited Financial Results

Precision Drilling (PDS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Precision Drilling (PDS) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

Baker Hughes Co

PBF Energy

Investors should not steer clear of energy companies as there are several firms like PBF Energy (PBF), Precision Drilling (PDS) and Baker Hughes (BKR) that can beat earnings estimates in Q2.

3 Stocks to Beat on Q2 Earnings Despite XOM's Downbeat View

CALGARY, Alberta, July 06, 2023 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision”) intends to release its 2023 second quarter results before the market opens on Thursday, July 27, 2023, and has scheduled a conference call to begin at 12:00 noon MT (2:00 p.m. ET) on the same day.

Precision Drilling Corporation 2023 Second Quarter Results Conference Call And Webcast

Precision Drilling Corporation has experienced a 13% increase in drilling activity in the US and Canada, with a growing market share and high utilization of its rig fleet. PDS has secured contracts in Kuwait and Saudi Arabia, and its valuation looks attractive with a forward P/E of just 4, significantly below the sector average of 8.7.

Precision Drilling Corporation: Improving Drilling Activity And Margin Expansion

CALGARY, Alberta, June 01, 2023 (GLOBE NEWSWIRE) -- This news release contains "forward-looking information and statements" within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the "Cautionary Statement Regarding Forward-Looking Information and Statements" later in this news release.

Precision Drilling Corporation Provides Activity Update

With the outlook for energy activity holding up despite some concerns, the Zacks Oil and Gas - Drilling companies like SDRL, PTEN and PDS are worth considering.

3 Well-Positioned Stocks in the Oil & Gas Drilling Industry

CALGARY, Alberta, May 11, 2023 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision” or the “Company”) is pleased to announce the results of the election of board members at its 2023 Annual Meeting of Shareholders held on May 11, 2023 (the “Annual Meeting”). Shareholders approved the election of all 8 (7 of whom are independent) of the nominated directors presented in the Company's Management Information Circular (the “Circular”), dated March 29, 2023.

Precision Drilling Corporation Announces Voting Results From the 2023 Annual Meeting of Shareholders

CALGARY, Alberta, May 05, 2023 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision”) reminds shareholders that it is holding its 2023 Annual Meeting of Shareholders (“the Annual Meeting”) on Thursday, May 11, 2023 at 10:00 a.m. MST. As previously announced, the Annual Meeting will be held in a virtual-only meeting format. The meeting format will provide all shareholders an equal opportunity to participate in the Annual Meeting regardless of their geographic location.

Precision Drilling Corporation Holding Virtual-Only 2023 Annual Meeting of Shareholders on May 11

Precision Drilling Corporation (PDS) Q1 2023 Earnings Call Transcript.

Precision Drilling Corporation (PDS) Q1 2023 Earnings Call Transcript

Precision Drilling (PDS) came out with quarterly earnings of $4.12 per share, beating the Zacks Consensus Estimate of $2.96 per share. This compares to loss of $2.57 per share a year ago.

Precision Drilling (PDS) Beats Q1 Earnings and Revenue Estimates

CALGARY, Alberta, April 26, 2023 (GLOBE NEWSWIRE) -- This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this news release. This news release contains references to certain Financial Measures and Ratios, including Adjusted EBITDA (earnings before income taxes, loss (gain) on investments and other assets, finance charges, foreign exchange, gain on asset disposals and depreciation and amortization), Funds Provided by (Used in) Operations, Net Capital Spending and Working Capital. These terms do not have standardized meanings prescribed under International Financial Reporting Standards ( IFRS ) and may not be comparable to similar measures used by other companies, see “Financial Measures and Ratios” later in this news release.

Precision Drilling Announces 2023 First Quarter Unaudited Financial Results

CALGARY, Alberta, April 03, 2023 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision”) intends to release its 2023 first quarter results before the market opens on Wednesday, April 26, 2023, and has scheduled a conference call to begin at 12:00 Noon MT (2:00 p.m. ET) on the same day.

Precision Drilling Corporation 2023 First Quarter Results Conference Call and Webcast

CALGARY, Alberta, March 29, 2023 (GLOBE NEWSWIRE) -- This news release contains "forward-looking information and statements" within the meaning of applicable securities laws. For important information with respect to such forward-looking information and statements and the further assumptions and risks to which they are subject, see the "Cautionary Statement Regarding Forward-Looking Information and Statements" later in this news release.

Precision Drilling Corporation Announces Filing of Management Information Circular and Virtual-Only Annual Meeting of Shareholders

CALGARY, Alberta, March 28, 2023 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision” or the “Company”) (TSX:PD; NYSE:PDS) today announced it has released its 2022 Environmental, Social and Governance (ESG) performance data, which aligns with the Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD) and Global Reporting Initiative (GRI) frameworks.

Precision Drilling Releases 2022 ESG Performance Data

Helmerich & Payne

Nabors Industries

Despite the choppy activity trends associated with the Zacks Oil and Gas - Drilling industry, we advise focusing on fundamentally sound companies like HP, NBR and PDS.

3 Oil & Gas Drilling Stocks to Make It Through Macro Headwinds

Bill.com

Live Nation

Murphy USA

Sibanye Stillwater

Sirius XM Holdings Inc

NuScale Power Corp

With the market struggling with economic uncertainties, hardened gamblers may want to consider speculative stocks to buy. Primarily, the market fallout that began in earnest last year imposed damage almost across the board.

7 Speculative Stocks to Buy on the Market's Red Ink

Precision Drilling (PDS) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.

Here's Why Precision Drilling (PDS) is Poised for a Turnaround After Losing -23.54% in 4 Weeks

Investors need to pay close attention to Precision Drilling (PDS) stock based on the movements in the options market lately.

Is the Options Market Predicting a Spike in Precision Drilling (PDS) Stock?

Precision Drilling Corporation (NYSE:PDS ) Q4 2022 Earnings Conference Call February 9, 2023 2:00 PM ET Company Participants Lavonne Zdunich - Director of Investor Relations Carey Ford - Senior Vice President & Chief Financial Officer Kevin Neveu - President & Chief Executive Officer Conference Call Participants Waqar Syed - ATB Capital Markets Keith MacKey - RBC Capital Markets Cole Pereira - Stifel Andrew Bradford - Raymond James Kurt Hallead - Benchmark Company Operator Good day, and thank you for standing by. Welcome to the Precision Drilling Corporation 2022 Fourth Quarter and Year-End Results Conference Call.

Precision Drilling Corporation (PDS) Q4 2022 Earnings Call Transcript

Precision Drilling (PDS) delivered earnings and revenue surprises of -89.53% and 3.86%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Precision Drilling (PDS) Q4 Earnings Miss Estimates

News for Precision Drilling Stock (PDS)