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Precision Drilling Corp - PDS STOCK NEWS

Welcome to our dedicated news page for Precision Drilling (Ticker: PDS), a resource for investors and traders seeking the latest updates and insights on Precision Drilling.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Precision Drilling's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Precision Drilling's position in the market.

News
Precision Drilling Announces 2024 First Quarter Unaudited Financial Results
Rhea-AI Summary
Precision Drilling announced its 2024 first quarter unaudited financial results, with revenue at $528 million and Adjusted EBITDA at $143 million. The company saw a decrease in net earnings to $37 million compared to $96 million in 2023. Precision remains focused on reducing debt and returning cash flow to shareholders in 2024. Operational highlights include increased drilling rig utilization days in Canada, while the U.S. and international markets saw fluctuations. Precision's management is optimistic about the year ahead, expecting sustained free cash flow and enhanced shareholder returns.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
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Tags
earnings
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News
Precision Drilling Corporation Announces Filing of Management Information Circular, Virtual-Only Annual and Special Meeting of Shareholders, and 2023 ESG Performance Data
Rhea-AI Summary
Precision Drilling announces the filing of its Management Information Circular for the 2024 Annual and Special Meeting of Shareholders, to be held in a virtual-only format. The company also released its 2023 ESG performance data, aligning with industry standards.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.16%
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none
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News
Precision Drilling Corporation 2024 First Quarter Results Conference Call and Webcast
Rhea-AI Summary
Precision Drilling (PDS) is set to announce its 2024 first quarter results on April 25, 2024, with a conference call scheduled for the same day. Participants can register for the call to ask questions and access the webcast for further details.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.39%
Tags
earnings
News
Precision Drilling Corporation Announces Filing of Annual Disclosure Documents
Rhea-AI Summary
Precision Drilling Corporation (PDS) has filed its 2023 Annual Report with audited financial statements and management's discussion. The financial results for 2023 were previously released. The Annual Report is available on SEDAR+ and Form 40-F on the SEC's EDGAR system. The company's 2024 Annual and Special Meeting of Shareholders will be held virtually on May 16, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.36%
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none
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News
Precision Drilling Reports 2023 Fourth Quarter and Year-End Unaudited Financial Results
Rhea-AI Summary
Precision Drilling announces strong 2023 fourth quarter results, generating revenue of $507 million, Adjusted EBITDA of $151 million, and net earnings of $147 million. The company achieved annual debt reduction and shareholder capital return targets, reducing debt by $152 million and repurchasing $30 million of common shares. Precision plans to reduce debt by another $150 million to $200 million in 2024 and allocate 25% to 35% of free cash flow towards share repurchases. The 2024 capital budget is $195 million, lower than the $227 million invested in 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.72%
Tags
earnings
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News
Precision Drilling Meets 2023 Debt Repayment and Share Repurchase Targets and Provides Capital Allocation, Financial and Operational Updates
Rhea-AI Summary
Precision Drilling Corporation (PD; PDS) announced a series of positive updates including 2023 debt repayment and year-end liquidity update, capital allocation framework update, and financial and operational update. The company reduced total debt by $152 million in 2023 and ended the year with a cash balance of approximately $55 million and total liquidity of approximately $615 million. Precision also plans to improve capital returns to shareholders in 2024 by increasing debt reduction and share buyback allocations.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.38%
Tags
buyback
News
Precision Drilling Corporation 2023 Fourth Quarter and Year-End Results Conference Call and Webcast
Rhea-AI Summary
Precision Drilling Corporation (PD) to release 2023 Q4 and year-end results on February 6, 2024, followed by a conference call. Participants can register for the call and access the webcast through provided links.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.72%
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none
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News
Precision Drilling Completes Acquisition of CWC Energy Services Corp.
Rhea-AI Summary
Precision Drilling Corporation (TSX:PD; NYSE:PDS) has completed the acquisition of CWC Energy Services Corp. for approximately $127 million, including cash, shares, and assumption of debt. The integration is expected to generate $20 million in annual operating synergies and $20 million from real estate sales. Precision now has 72 active service rigs in Canada, 73 active drilling rigs in Canada, and 51 active drilling rigs in the U.S.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.01%
Tags
acquisition
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News
Precision Drilling Announces 2023 Third Quarter Unaudited Financial Results
Rhea-AI Summary
Precision Drilling announces strong 2023 third quarter financial results with increased revenue and adjusted EBITDA. Demand for Super Triple and Super Single rigs remains high in Canada. The company expects increased drilling activity in the U.S. and international markets. Precision plans to complete the acquisition of CWC Energy Service Corp. and increase capital spending to support rig upgrades.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.05%
Tags
earnings
News
Precision Drilling Corporation 2023 Third Quarter Results Conference Call and Webcast
Rhea-AI Summary
Precision Drilling Corporation to release Q3 2023 results on October 26, 2023
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.8%
Tags
earnings
Stock PDS logo
Precision Drilling Corp

NYSE:PDS

PDS Rankings

#2408 Ranked by Market Cap
#3435 Ranked by Stock Gains
N/A Ranked by Dividends

PDS Stock Data

1.03B
13.95M
1.32%
58.04%
2.43%
Drilling Oil and Gas Wells
Mining, Quarrying, and Oil and Gas Extraction
Link
Canada
Calgary

About PDS

precision drilling corporation is canada's largest oilfield services company, and one of the largest in the united states. pd also has a growing presence internationally with operations in mexico, saudi arabia, iraq, kuwait and the united arab emirates. precision specializes in contract drilling, well servicing and strategic support services. precision supplies on-the-ground expertise - people, equipment and knowledge - to provide value to our customers on a daily basis. precision drilling ltd. was founded as a private drilling contractor in the early 1950s and has grown to be one of the largest oilfield service providers in north america. precision operates a versatile fleet of high performance land rigs capable of drilling a range of shallow to very deep or extended-reach wells in canada, the united states and internationally. the fleet has been expanded through a combination of new build rigs and corporate acquisitions.