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Precision Drilling: 4Q Earnings Snapshot

CALGARY, Alberta (AP) _ Precision Drilling Corp. (PDS) on Thursday reported a loss of $150.1 million in its fourth quarter.

On a per-share basis, the Calgary, Alberta-based company said it had a loss of 51 cents. Earnings, adjusted for amortization costs, 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 5 cents per share.

The oilfield services company posted revenue of $323.1 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $302.1 million.

For the year, the company reported that its loss widened to $227.1 million, or 77 cents per share. Revenue was reported as $1.19 billion.

The company's shares closed at $2.12. A year ago, they were trading at $3.26.


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