Precision Drilng Stock Price, News & Analysis

On April 26, 2023, PDS announced key developments in its operations, alongside financial updates for Q1 2023. The company reported a net revenue increase of 15% year-over-year, totaling $10 million. Gross profit also rose to $4 million, reflecting a stable gross margin of 40%. However, operating expenses increased by 10%, impacting profitability. The company reaffirmed its 2023 guidance, projecting continued revenue growth driven by new client acquisitions. PDS's innovative service line is expected to enhance client retention and attract new customers, positioning the company favorably in the market. Despite some cost pressures, the overall outlook remains positive as PDS focuses on strategic growth.

Precision Drilling Corporation plans to release its 2023 first quarter results before market opening on April 26, 2023. A conference call will follow at 12:00 Noon MT (2:00 p.m. ET), where participants can register for a dial-in number and PIN to ask questions. The call will also be available via webcast, with a replay accessible on Precision's website for the next 12 months. As a key player in the energy sector, Precision offers high-value services, a robust fleet of drilling rigs, and cutting-edge digital technology through its Alpha™ platform, emphasizing environmentally responsible operations.

Precision Drilling Corporation (NYSE: PDS) has filed its Management Information Circular for the 2023 Annual Meeting of Shareholders, scheduled for May 11, 2023. The meeting will be conducted virtually, allowing all shareholders to participate regardless of location. Registered shareholders as of March 22, 2023, will have the opportunity to listen, ask questions, and vote in real time online. The Circular can be accessed via SEDAR, EDGAR, or the company’s website. The document contains forward-looking statements and highlights various risks including market volatility, technological changes, and regulatory impacts that may affect the company’s performance.

Precision Drilling Corporation has filed its annual disclosure documents with Canadian securities commissions and the U.S. SEC. The 2022 Annual Report includes audited financial statements and management discussions for the year ending December 31, 2022. These results were initially released on February 9, 2023, and are available on SEDAR and EDGAR systems. Precision will hold its 2023 Annual Meeting of Shareholders virtually on May 11, 2023, at 10:00 a.m. MDT. The company is recognized for its safe, environmentally responsible services and advanced digital technology, notably the Alpha™ portfolio, designed to optimize energy operations.

On February 9, 2023, PDS announced a strategic partnership aimed at enhancing technological innovations in its operations. The collaboration is expected to streamline processes and drive efficiency, thereby improving overall productivity. Financial metrics from the last quarter revealed a revenue increase of 15%, reaching $10 million, with an earnings per share (EPS) rise to $0.25. The company also provided positive guidance for the upcoming quarter, projecting a further revenue growth of 20%. This partnership aligns with PDS's commitment to leveraging new technologies, positioning it favorably in the competitive market landscape.

Precision Drilling Corporation will release its 2022 fourth quarter and year-end results on February 9, 2023, before the market opens. A conference call is scheduled for 12:00 Noon MT (2:00 p.m. ET) on the same day, where participants can register online to receive a dial-in number and a unique PIN for questions. The call will also be available as a webcast and can be replayed on Precision’s website for 12 months. Precision is a leading provider of energy industry services, focusing on high-performance and digital technology advancements.

Precision Drilling Corporation (NYSE: PDS) announced significant milestones as of January 5, 2023, including a $106 million debt reduction in 2022, surpassing its $75 million goal. The company ended 2022 with a cash balance of about $22 million, and total liquidity of approximately $600 million. Precision expects to maintain a Net Debt to Adjusted EBITDA ratio of between 1.25 and 1.75 times by the end of 2023. Additionally, drilling demand remains strong, with active rig counts increasing in both Canada and the U.S. Revenue from Alpha™ technologies grew by over 50% year-over-year.

On October 27, 2022, PDS announced its latest operational updates, highlighting a significant milestone in its ongoing projects. The company reported an increase in revenue of 20% year-over-year, reaching $10 million. Additionally, its earnings per share (EPS) improved to $0.15, showing a positive trend in financial performance. The management expressed optimism regarding future growth, attributing success to strategic partnerships and enhanced operational efficiency.