Earnings ·
Precision Drilling reports Q3 revenue of $532M and net earnings of $21M
PDSPRECISION DRILLING Corp
Precision Drilling reported third-quarter revenue of $532 million, a 15% increase from the prior year period, driven by higher drilling activity in Canada and the U.S. Adjusted EBITDA rose 6% to $125 million, while net earnings attributable to shareholders turned positive at $21 million compared to a loss in the previous year. The company repurchased $31 million of shares during the quarter and raised its full-year capital expenditure guidance to between $275 million and $285 million. Precision Drilling provides land contract drilling, well servicing, and completion services for oil and gas producers.