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.

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Precision Drilling (PDS) delivered earnings and revenue surprises of 7.89% and -0.80%, respectively, for the quarter ended December 2020. Do the numbers hold clues to what lies ahead for the stock?

Precision Drilling (PDS) Reports Q4 Loss, Misses Revenue Estimates

CALGARY, Alberta, Feb. 10, 2021 (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 Adjusted EBITDA, Covenant EBITDA, Operating Earnings (Loss), Funds Provided by (Used in) Operations 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 “Non-GAAP Measures” later in this news release. Amounts presented are in Canadian dollars, unless otherwise stated.

Precision Drilling Corporation Announces 2020 Fourth Quarter and Year End Unaudited Financial Results

CALGARY, Alberta, Jan. 19, 2021 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision”) intends to release its 2020 fourth quarter results before the market opens on Wednesday, February 10, 2021 and has scheduled a conference call and webcast to begin promptly at 12:00 Noon MT (2:00 p.m. ET) on the same day.

Precision Drilling Corporation 2020 Fourth Quarter and End of Year Results Conference Call and Webcast

CALGARY, Alberta, Jan. 05, 2021 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision” or “the Company”) (TSX:PD; NYSE:PDS) provides a series of announcements including: 1) debt repayment update; 2) increase in long-term debt reduction target; 3) liquidity update; and 4) drilling activity update.

Precision Drilling Announces 2020 Debt Repayments Exceeding Guidance and Increases Long-Term Debt Reduction Target Through 2022

Precision Drilling (PDS) saw a big move last session, as its shares jumped nearly 7% on the day, amid huge volumes.

Precision Drilling (PDS) Catches Eye: Stock Jumps 6.7%

Rig counts are increasing back to levels not seen since mid-May as the price of oil rises to $45 US. Precision still has high debt levels, but the company is aggressively working to reduce them.

Precision Drilling: Time To Shine

CALGARY, Alberta, Oct. 29, 2020 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision” or the “Company”) (TSX:PD; NYSE:PDS) announces that it is proceeding with a 20:1 consolidation of the common shares of the Company (the “Consolidation”). Notice has been provided to the Toronto Stock Exchange (“TSX”), and the New York Stock Exchange (“NYSE”) and Precision's common shares are expected to begin trading on the TSX and NYSE, on a consolidated basis, on or about November 12, 2020.

Precision Drilling Announces Share Consolidation

Precision Drilling Corp (PDS) CEO Kevin Neveu on Q3 2020 Results - Earnings Call Transcript

Precision Drilling (PDS) delivered earnings and revenue surprises of 46.67% and -2.08%, respectively, for the quarter ended September 2020. Do the numbers hold clues to what lies ahead for the stock?

Precision Drilling (PDS) Reports Q3 Loss, Lags Revenue Estimates

Shares of Precision Drilling (NYSE:PDS) fell 1.4% after the company reported Q3 results. Quarterly Results Earnings per share decreased 700.00% year over year to ($0.08), which missed the estimate of ($0.05).

Precision Drilling: Q3 Earnings Insights

CALGARY, Alberta, Oct. 22, 2020 (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 Adjusted EBITDA, Covenant EBITDA, Operating Earnings (Loss), Funds Provided by (Used i n) Operations 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 “Non-GAAP Measures” later in this news release.

Precision Drilling Corporation Announces 2020 Third Quarter Unaudited Financial Results

CALGARY, Alberta, Oct. 05, 2020 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision”) intends to release its 2020 third quarter results before the market opens on Thursday, October 22, 2020 and has scheduled a conference call and webcast to begin promptly at 12:00 Noon MT (2:00 p.m. ET) on the same day.

Precision Drilling Corporation 2020 Third Quarter Results Conference Call and Webcast

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CALGARY, Alberta, Sept.  14, 2020  (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision” or the “Company”) (TSX:PD; NYSE:PDS) announced the release of its 2020 Corporate Responsibility Report, detailing the performance of Precision’s environmental, social and governance (ESG) initiatives. Through equipment and process standardization and scalable application of a robust digital technology portfolio, Precision’s operations deliver consistency, reliability and efficiency, which not only lowers costs for customers, but also enables the Company to minimize its environmental impact. The Company’s social and community involvement, and governance initiatives, have enhanced its corporate brand, minimized the potential impact of unforeseen business interruptions, and serve to enhance its ability to recruit and retain the highest quality personnel. This Corporate Responsibility Report will be a valuable tool for investors and stakeholders to review Precision’s material ESG initiatives, performance and opportunities.

Precision Announces the Release of 2020 Corporate Responsibility Report

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Oil & Gas Drilling Industry Outlook Not Appealing to Investors

Precision Drilling Corporation (PDS) CEO Kevin Neveu on Q2 2020 Results - Earnings Call Transcript

Shares of Precision Drilling (NYSE:PDS) rose 6% in pre-market trading after the company reported Q2 results.

Precision Drilling: Q2 Earnings Insights

CALGARY, Alberta, July  23, 2020  (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 Adjusted EBITDA, Covenant EBITDA, Operating Earnings (Loss), Funds Provided by (Used in) Operations 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 “Non-GAAP Measures” later in this news release.

Precision Drilling Corporation Announces 2020 Second Quarter Unaudited Financial Results

CALGARY, Alberta, May  26, 2020  (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision” or “the Company”) (TSX:PD; NYSE:PDS) has been named the 2020 Energy Excellence Awards “Innovation & Technology Excellence” champion. This award recognizes Precision’s industry-leading Alpha digital suite including AlphaAutomation, AlphaApps and AlphaAnalytics, as it relates to productivity, savings in time, financial management, safety, and changes to environmental performance. Additionally, in 2019 Precision was awarded Hitachi’s Transformation Award for Data Insights Optimization, recognizing Hitachi customers who collaboratively drive positive economic, social and environmental impact.

Precision Drilling’s Digital Technology Leadership Recognized With Recent Awards for Innovation and Technology

CALGARY, Alberta, May  14, 2020  (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision”) announces that all resolutions considered by shareholders at its 2020 Annual and Special Meeting of Shareholders, held on May 14, 2020 (the “Annual Meeting”), have been approved.

Precision Drilling Corporation Announces Voting Results From the 2020 Annual and Special Meeting of Shareholders

Precision Drilling Corp (PDS) CEO Kevin Neveu on Q1 2020 Results - Earnings Call Transcript

Shares of Precision Drilling (NYSE:PDS) rose over 13% in pre-market trading after the company reported Q1 results.

Precision Drilling: Q1 Earnings Insights

Precision Drilling (PDS) saw a big move last session, as its shares jumped more than 9% on the day, amid huge volumes.

Precision Drilling (PDS) Catches Eye: Stock Jumps 9.4%

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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 ANNOUNCES FILING OF MANAGEMENT INFORMATION CIRCULAR, VIRTUAL-ONLY ANNUAL AND SPECIAL SHAREHOLDER MEETING AND PROPOSED SHARE CONSOLIDATION

News for Precision Drilling Stock (PDS)