Precision Drilling reports Q2 EPS $1.21 vs. $1.44 last year

Reports Q2 revenue $407M, consensus $397.28M. “Precision’s second quarter financial and operational results were stronger than we anticipated, with excellent free cash flow, new contracts booked in Canada and the U.S., and strong customer demand for Precision’s Super Triple rigs in every natural gas basin in North America coupled with sustained strong demand for our pad-capable Super Single rigs, supporting heavy oil drilling in Canada. We generated revenue of $407M, Adjusted EBITDA of $108M, and net earnings attributable to shareholders of $16M or $1.21 per share. I am pleased how our highly experienced team, committed to serving our customers, continues to deliver positive returns for our shareholders.