Precision Drilling Corp (TSE:PD) has released an update.
Precision Drilling Corp reported a decrease in revenue to $528 million for Q1 2024 from $559 million in Q1 2023, attributing the drop primarily to lower U.S. activity. Net earnings also fell to $37 million compared to $96 million in the prior year’s quarter. Despite the decline, the company is on course to reduce debt significantly and continue returning a substantial portion of its free cash flow to shareholders.
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