Precision Drilling Q1 Net Loss Widens, Revenues Down - Quick Facts

(RTTNews) - Precision Drilling Corp. (PDS, PD.TO) reported Thursday that its first-quarter net loss was C$36.11 million or C$2.70 per share, wider than last year's loss of C$5.28 million or C$0.38 per share.

Revenue of C$236.47 million was down 38% from C$379.48 million a year ago.

On average, analysts polled by Thomson Reuters expected the company to report a loss of C$2.74 per share on revenues of C$226.53 million for the quarter. Analysts' estimates typically exclude special items.

Operating loss was C$15.42 million, compared to prior year's operating earnings of C$22.60 million last year. Adjusted EBITDA fell 46.5 percent to C$54.54 million.