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Precision Drilling

Precision Drilling Corp is a provider of contract drilling and completion and production services to oil and natural gas exploration and production companies in Canada, the United States, and certain international locations. Contract Drilling Services include drilling rigs, procurement and distribution of oilfield supplies, and the manufacture, sale and repair of drilling equipment. Completion and Production Services include service rigs, oilfield equipment rental, and camp and catering services.

Precision Drilling Corporation Common Stock

Precision Drilling Corp

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Precision Drilling (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PDS#NYSE">PDS</a>) reported quarterly earnings of $1.53 per share which missed the analyst consensus estimate of $1.57 by 2.55 percent. This is a 18.62 percent decrease over earnings of $1.88 per share from the same period last year. The company reported quarterly sales of $345.75 million which missed the analyst consensus estimate of $348.70 million by 0.84 percent. This is a 11.70 percent decrease over sales of $391.58 million the same period last year.

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Precision Drilling Q1 EPS $1.53 Misses $1.57 Estimate, Sales $345.75M Miss $348.70M Estimate

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Earnings Scheduled For April 23, 2025

Precision Drilling (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PDS#NYSE">PDS</a>) will release its quarterly earnings report on Wednesday, 2025-04-23. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate Precision Drilling to report an earnings per share (EPS) of $2.05.
Anticipation surrounds Precision Drilling's announcement, with investors hoping to hear about both surpassing estimates and receiving positive guidance for the next quarter.
New investors should understand that while earnings performance is important, market reactions are often driven by guidance.
<h3>Earnings History Snapshot</h3>
Last quarter the company missed EPS by $0.64, which was followed by a 0.84% drop in the share price the next day.
Here's a look at Precision Drilling's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.40</td>
<td>1.85</td>
<td>0.30</td>
<td>1.93</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.76</td>
<td>1.69</td>
<td>1.05</td>
<td>1.88</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-1.0%</td>
<td>7.000000000000001%</td>
<td>7.000000000000001%</td>
<td>5.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2025/1745352109_0.png" alt="eps graph" />
<h3>Market Performance of Precision Drilling's Stock</h3>
Shares of Precision Drilling were trading at $42.13 as of April 21. Over the last 52-week period, shares are down 36.58%. Given that these returns are generally negative, long-term shareholders are likely unhappy going into this earnings release. 
<a href="https://www.benzinga.com/quote/PDS/earnings">To track all earnings releases for Precision Drilling visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview: Precision Drilling

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Shares of energy companies are trading higher following President Trump's decision to implement a 90-day pause on reciprocal tariffs for all countries except China.

Precision Drilling (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PDS#NYSE">PDS</a>) reported quarterly earnings of C$1.06 per share which missed the analyst consensus estimate of C$1.93 by 45.08 percent. This is a 89.19 percent decrease over earnings of C$9.81 per share from the same period last year. The company reported quarterly sales of C$468.171 million which missed the analyst consensus estimate of C$481.580 million by 2.78 percent. This is a 7.64 percent decrease over sales of C$506.871 million the same period last year.

Precision Drilling Q4 2024 GAAP EPS C$1.06 Misses C$1.93 Estimate, Sales C$468.171M Miss C$481.580M Estimate

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Earnings Scheduled For February 12, 2025

TD Securities analyst Aaron Macneil downgrades Precision Drilling (TSX:<a class="ticker" href="https://www.benzinga.com/stock/PD#TSX">PD</a>) from Buy to Hold and lowers the price target from C$120 to C$100.

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TSX:PD

TD Securities Downgrades Precision Drilling to Hold, Lowers Price Target to C$100

Precision Drilling shares are trading higher. The company reported Q3 financial results.

Precision Drilling (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PDS#NYSE">PDS</a>) reported quarterly earnings of $1.69 per share which missed the analyst consensus estimate of $1.85 by 8.65 percent. This is a 56.48 percent increase over earnings of $1.08 per share from the same period last year. The company reported quarterly sales of $349.77 million which missed the analyst consensus estimate of $362.83 million by 3.60 percent. This is a 5.03 percent increase over sales of $333.02 million the same period last year.

Precision Drilling Q3 EPS $1.69 Misses $1.85 Estimate, Sales $349.77M Miss $362.83M Estimate

Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- &quot;buy low and sell high.&quot; Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by &quot;buying high and selling higher.&quot;
Who doesn&#39;t like betting on fast-moving trending stocks? But determining the right entry point isn&#39;t easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, investors find themselves loaded up on expensive shares with limited to no upside or even a downside. So, going all-in on momentum could be risky at times.
A safer approach could be investing in bargain stocks with recent price momentum. While the Zacks Momentum Style Score helps identify great momentum stocks by paying close attention to trends in a stock&#39;s price or earnings, our &#39;Fast-Paced Momentum at a Bargain&#39; screen comes handy in spotting fast-moving stocks that are still attractively priced.
Precision Drilling (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pds#NYSE">PDS</a>) is one of the several great candidates that made it through the screen. While there are numerous reasons why this stock is a great choice, here are the most vital ones:
A dash of recent price momentum reflects growing interest of investors in a stock. With a four-week price change of 4.2%, the stock of this oilfield services company is certainly well-positioned in this regard.
While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. PDS meets this criterion too, as the stock gained 5.9% over the past 12 weeks.
Moreover, the momentum for PDS is fast paced, as the stock currently has a beta of 2.03. This indicates that the stock moves 103% higher than the market in either direction.
Given this price performance, it is no surprise that PDS has a Momentum Score of B, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.
In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped PDS earn a Zacks Rank #1 (Strong Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That&#39;s because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up.
Most importantly, despite possessing fast-paced momentum features, PDS is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. PDS is currently trading at 0.75 times its sales. In other words, investors need to pay only 75 cents for each dollar of sales.
So, PDS appears to have plenty of room to run, and that too at a fast pace.
<a href="https://www.zacks.com/stock/news/2327475/despite-fast-paced-momentum-precision-drilling-pds-is-still-a-bargain-stock?cid=CS-BENZ-FT-tale_of_the_tape|fast_paced_momentum_at_a_bargain-2327475">To read this article on Zacks.com click here.</a>

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Despite Fast-Paced Momentum, Precision Drilling Is Still a Bargain Stock

RBC Capital analyst Keith Mackey maintains Precision Drilling (TSX:<a class="ticker" href="https://www.benzinga.com/stock/PD#TSX">PD</a>) with a Outperform and raises the price target from C$122 to C$125.

RBC Capital Maintains Outperform on Precision Drilling, Raises Price Target to C$125

Piper Sandler analyst Luke Lemoine maintains Precision Drilling (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PDS#NYSE">PDS</a>) with a Overweight and lowers the price target from $101 to $95.

Piper Sandler Maintains Overweight on Precision Drilling, Lowers Price Target to $95

Piper Sandler analyst Luke Lemoine maintains Precision Drilling (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PDS#NYSE">PDS</a>) with a Overweight and raises the price target from $81 to $101.

Piper Sandler Maintains Overweight on Precision Drilling, Raises Price Target to $101

Precision Drilling (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PDS#NYSE">PDS</a>) reported quarterly earnings of $1.88 per share which missed the analyst consensus estimate of $2.63 by 28.63 percent. The company reported quarterly sales of $391.580 million which missed the analyst consensus estimate of $530.500 million by 26.19 percent. This is a 5.23 percent decrease over sales of $413.211 million the same period last year.

Precision Drilling Q1 2024 GAAP EPS $1.88 Misses $2.63 Estimate, Sales $391.580M Miss $530.500M Estimate

RBC Capital analyst Keith Mackey reiterates Precision Drilling (TSX:<a class="ticker" href="https://www.benzinga.com/stock/PD#TSX">PD</a>) with a Outperform and maintains C$122 price target.

Reiteration

RBC Capital Reiterates Outperform on Precision Drilling, Maintains C$122 Price Target

Precision Drilling Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PDS#NYSE">PDS</a>) shares are surging today after it reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/g36950232/precision-drilling-reports-2023-fourth-quarter-and-year-end-unaudited-financial-results" rel="noreferrer noopener">fourth-quarter FY23 results</a>.
Revenues fell 0.7% Y/Y to C$506.9 million in the quarter. Contract Drilling Services revenue declined 1.5% Y/Y to C$446.5 million, while Completion and Production Services revenue increased 5.4% Y/Y to C$62.5 million.
Drilling rig utilization days declined 25% Y/Y in the U.S. and 3% Y/Y in Canada, while international drilling rig utilization days grew 26% Y/Y.
Adjusted EBITDA increased to C$151.2 million from C$91.1 million in the quarter.
EPS stood at C$9.81, a significant&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">increase from C$0.27 a year ago</a>.
Operating cash flow came in at C$170.3 million from C$159.1 million the prior year quarter. Capital expenditures stood at C$79 million compared with C$57 million a year ago.&nbsp;
The company currently has 45 active rigs in the U.S., 64 in Canada and 8 internationally.
Kevin Neveu, President and CEO, said, &#8220;Internationally, we recertified and reactivated four Kuwait rigs in 2023 and now have eight active rigs working in the Kingdom of Saudi Arabia and Kuwait. With these additional rigs, we expect our activity to increase approximately 40% year over year and provide predictable future cash flow as the majority of these rigs are under five-year term contracts that extend into 2027 and 2028.&#8221;&nbsp;
Outlook: The company expects to reduce debt by C$150 million to C$200 million in 2024 and allocate 25% to 35% of free cash flow before debt repayments&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">toward share repurchases</a>.
Moreover, it plans to lower debt by another C$100 million by the end of 2026 and continue to shareholder capital returns of 50% of free cash flow.
Precision Drilling projects its average active international rig count to increase by around 40% Y/Y in the year.
Price Action: PDS shares are up 9.53% at $64.58 on the last check Tuesday.

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Precision Drilling Shares Are Rocketing Today: What's Going On?

Precision Drilling (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PDS#NYSE">PDS</a>) reported quarterly earnings of $7.20 per share which beat the analyst consensus estimate of $1.79 by 302.29 percent. This is a 3500.5 percent increase over earnings of $0.20 per share from the same period last year. The company reported quarterly sales of $372.42 million which beat the analyst consensus estimate of $360.98 million by 3.17 percent. This is a 2.01 percent decrease over sales of $380.07 million the same period last year.

Precision Drilling Q4 GAAP EPS $7.20 Beats $1.79 Estimate, Sales $372.42M Beat $360.98M Estimate

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