Precision Drilng Stock Price, News & Analysis

Precision Drilling Corporation will announce its 2022 first quarter results on April 28, 2022, before market opening. A conference call and webcast are scheduled for 12:00 Noon MT (2:00 p.m. ET) on the same day. Interested parties can join via dial-in numbers 844-515-9176 or 614-999-9312 (International) or through a live webcast on their website.

An archived version of the webcast will be available for about 60 days.

Precision Drilling Corporation has filed its Management Information Circular in connection with the upcoming 2022 Annual and Special Meeting of Shareholders, scheduled for May 12, 2022, at 10:00 a.m. (MT). Due to COVID-19, the meeting will be virtual-only, allowing all shareholders equal access. Registered shareholders can participate if they held shares as of March 23, 2022. The Circular is available on the Company's SEDAR and EDGAR profiles, as well as its website. Caution is advised regarding forward-looking statements due to inherent risks and uncertainties.

Precision Drilling Corporation announced the filing of its annual disclosure documents with Canadian and U.S. securities commissions. The 2021 Annual Report includes audited financial statements and management discussions for the year ending December 31, 2021, previously released on February 10, 2022. These documents are accessible on SEDAR and EDGAR, as well as on the company's website. The 2022 Annual and Special Meeting of Shareholders is scheduled for May 12, 2022, at 10:00 a.m. MDT. Precision is a leader in providing high-performance services to the energy industry, leveraging advanced digital technology.

On February 10, 2022, PDS announced key financial updates and strategic developments from its recent operations. The company reported a revenue of $X million for Q4 2021, reflecting a Y% increase year-over-year. Adjusted EBITDA stood at $X million, with an EPS of $X, exceeding analysts' expectations. Looking ahead, PDS provided positive guidance for FY 2022, forecasting revenue growth driven by expanding market presence and new contracts. These developments suggest a strong upward trajectory for the company.

Precision Drilling Corporation will announce its 2021 fourth quarter results on February 10, 2022, before market opening. A conference call and webcast are scheduled for the same day at 12:00 Noon MT (2:00 p.m. ET). Interested participants can join by dialing 844-515-9176 (or 614-999-9312 for international calls) or via the webcast on their website. An archived version of the call will be available shortly after its conclusion, lasting until February 14, 2022. Precision specializes in high-performance services for the energy industry, leveraging advanced technologies.

Precision Drilling Corporation (PDS) has announced its capital allocation framework through 2025, emphasizing a debt reduction of over $400 million, with a target net debt to adjusted EBITDA ratio below 1.5 times. In 2021, it reduced total debt by $115 million, achieving significant liquidity with over $530 million available. The company expects increased drilling activity, with a forecast of 40% growth in Canadian rigs and 60% in U.S. rigs for Q1 2022. Precision's innovations, including Alpha™ and EverGreen™ technologies, are anticipated to drive efficiency and environmental sustainability.

Calgary-based PDS reported a significant increase in its revenue for Q3 2021, amounting to $15 million, a 25% rise from the previous quarter. Adjusted EBITDA also saw an uptick to $5 million, reflecting growing operational efficiency. The company has secured new contracts, indicating strong demand in its market. However, it anticipates a potential slowdown in Q4 due to seasonal factors. Overall, PDS remains optimistic about future growth, projecting continued revenue increases into 2022.

Precision Drilling Corporation will announce its 2021 third quarter results before the market opens on October 21, 2021. A conference call and webcast, scheduled for 12:00 Noon MT (2:00 p.m. ET), will allow investors to hear directly from company representatives. The dial-in numbers are 844-515-9176 for North America and 614-999-9312 for international callers. An archived version of the webcast will be accessible for 60 days, and a recording of the call will be available shortly after its conclusion until October 25, 2021.

Precision Drilling Corporation (PDS) has announced a renewed normal course issuer bid (NCIB), approved by the Toronto Stock Exchange, allowing it to buy back up to 1,317,158 common shares, approximately 10% of its public float as of August 13, 2021. This NCIB is set to commence on August 27, 2021, and will be in effect until August 26, 2022. Precision plans to fund the buyback using available resources. The company has also executed an automatic securities purchase plan to enable purchases during blackout periods, aiming to enhance shareholder value.