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Precision Drilling: 1Q Earnings Snapshot

CALGARY, Alberta (AP) _ Precision Drilling Corp. (PDS) on Thursday reported first-quarter net income of $18.8 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Calgary, Alberta-based company said it had net income of 6 cents. Earnings, adjusted for non-recurring gains, came to less than 1 cent on a per-share basis.

The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The oilfield services company posted revenue of $326.5 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $311.5 million.

The company's shares closed at $2.81. A year ago, they were trading at $3.16.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PDS at https://www.zacks.com/ap/PDS