Precision Drilling Corporation Announces 2018 Third Quarter Unaudited Financial Results
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Precision Drilling (PDS) Misses Q3 EPS by 5c, Revenues Beat
October 25, 2018 6:17 AM EDTPrecision Drilling (NYSE: PDS) reported Q3 EPS of ($0.10), $0.05 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $382 million versus the consensus estimate of $308.31 million.
Precisions President and CEO Kevin Neveu stated: During the third quarter Precision remained firmly on track to deliver on our three key priorities for 2018: enhancing financial performance through higher utilization and improved margins; generating free cash flow for reducing total debt levels; and commercializing advanced rig technologies. Although third quarter weather-related delays in Canada, rig reactivation costs associated with seven rigs in the U.S., and... More
