Precision Drilling Posts Wider-than Expected Q2 Loss; Revenues Up, Miss View

Precision Drilling Corp. (PDS,PD.TO) reported Thursday that its second-quarter net loss was C$75.91 million or C$5.71 per share, wider than a net loss of C$48.87 million or C$3.56 per share a year ago.

Revenue of C$201.36 million was 6 percent higher than last year's C$189.76 million.

On average, analysts polled by Thomson Reuters expected the company to report a loss of C$4.3 per share on revenues of C$207.51 million for the quarter. Analysts' estimates typically exclude special items.

Adjusted EBITDA declined 50.5 percent to C$28.94 million.

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