Precision Drilling Corp. (PD.TO) released earnings for first quarter that decreased from the same period last year and missed the Street estimates.
The company's earnings came in at C$36.516 million, or C$2.53 per share. This compares with C$95.830 million, or C$5.57 per share, in last year's first quarter.
Analysts on average had expected the company to earn C$2.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 5.5% to C$527.788 million from C$558.607 million last year.
Precision Drilling Corp. earnings at a glance (GAAP) :
-Earnings (Q1): C$36.516 Mln. vs. C$95.830 Mln. last year.-EPS (Q1): C$2.53 vs. C$5.57 last year.-Revenue (Q1): C$527.788 Mln vs. C$558.607 Mln last year.
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