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Precision Drilling Corp. (PDS)
NYSE:PDS
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Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
1.17Last Year’s EPS
6.77Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 25, 2018
|% Change Since: 14.38%
|Next Earnings Date:Jul 26, 2018
Earnings Call Sentiment|Positive
The earnings call reflected a strong financial performance with significant achievements in debt reduction and increased activity in international and Canadian markets. However, challenges remain in the U.S. and international segments, particularly with rig activity and day rates. The sentiment is slightly positive, bolstered by strategic moves and positive financial outcomes.Company Guidance
During the Precision Drilling earnings call for Q3 2024, the company provided detailed guidance and metrics for the coming period. Precision Drilling anticipates strong cash flow in Q4, having reduced debt by $152 million year-to-date and achieving the low end of their 2024 target range between $150 million and $200 million. They plan to further reduce debt by $600 million by 2026, with approximately $190 million remaining. The company expects adjusted EBITDA for Q3 to be $142 million and net earnings of $39 million, representing the ninth consecutive quarter of positive earnings. For Q4, they project Canadian margins of approximately $15,000 per day and U.S. margins decreasing slightly to about USD 9,500 per day. Precision's international activity averaged 8 rigs with day rates of USD 47,223. Looking ahead to 2024, the company anticipates depreciation at $300 million, cash interest expense of $70 million, and SG&A of around $100 million, excluding share-based compensation expenses. They are also increasing capital spending for 2024 from $195 million to $210 million to fund rig upgrades and drill pipe purchases.Strong Financial Performance
Precision delivered year-over-year growth in revenue, adjusted EBITDA, and net earnings. Adjusted EBITDA was $142 million, and net earnings were $39 million, marking the ninth consecutive quarter of positive earnings.
Debt Reduction Achievements
The company reduced debt by $49 million during the quarter and $152 million year-to-date, reaching the low end of the target range of $150 million to $200 million for 2024.
Increased International and Canadian Rig Activity
International and Canadian rig activities have more than offset the constrained U.S. market, with a 10% increase in overall activity compared to the previous year.
Successful Integration of CWC Acquisition
The integration of CWC assets resulted in a 40% increase in adjusted EBITDA for the C&P segment, with a 34% increase in well service hours.
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PDS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PDS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $57.15 | $61.17 | +7.03% |
| Jul 30, 2024 | $71.98 | $76.85 | +6.77% |
| Apr 25, 2024 | $67.87 | $68.78 | +1.34% |
| Feb 06, 2024 | $58.96 | $62.33 | +5.72% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Precision Drilling Corp. (PDS) report earnings?
Precision Drilling Corp. (PDS) is schdueled to report earning on Feb 12, 2025, TBA Not Confirmed.
What is Precision Drilling Corp. (PDS) earnings time?
Precision Drilling Corp. (PDS) earnings time is at Feb 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PDS EPS forecast?
PDS EPS forecast for the fiscal quarter 2024 (Q4) is 1.17.
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