Precision Drilling Q3 Loss Widens

(RTTNews) - Precision Drilling Corp. (PDS, PD.TO) reported that its third-quarter net loss widened to C$28.48 million or C$0.10 per share from C$3.53 million or C$0.01 per share in 2019.

Revenue for the quarter was C$164.82 million, 56% lower than the third quarter of 2019, reflecting lower activity across all operating segments as customers reduced drilling programs in response to the global economic slowdown.

Analysts polled by Thomson Reuters expected the company to report a loss of C$0.20per share and revenues of C$160.4 million. Analysts' estimates typically exclude special items.