Precision Drilling Corp ( (PDS) ) has released its Q4 earnings. Here is a breakdown of the information Precision Drilling Corp presented to its investors.
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Precision Drilling Corp is a Calgary-based company specializing in land drilling services within the energy sector, known for its high-performance and value-driven offerings. The company recently released its 2024 fourth quarter and year-end financial results, highlighting a mixed performance with revenue and earnings declines due to reduced U.S. activity, offset by stronger Canadian and international operations. Key financial metrics showed a decrease in revenue to $468 million for the fourth quarter, with Adjusted EBITDA also down to $121 million. Net earnings were significantly lower at $15 million compared to $147 million in the previous year. Despite these challenges, Precision Drilling achieved its debt reduction and shareholder return goals, reducing debt by $176 million and repurchasing $75 million in shares. Looking ahead, the company plans to continue reducing debt with a target of $700 million by 2027 while increasing shareholder returns. Management remains optimistic about the Canadian market due to new infrastructure projects and anticipates stable international operations with long-term contracts in place.
