Precision Drilling Posts Narrower Loss In Q3; Revenue Down 2%

(RTTNews) - Precision Drilling Corp. (PD.TO) reported a third-quarter loss per share of C$0.01 compared to a loss of C$0.10, prior year. On average, 14 analysts polled by Thomson Reuters expected the company to report a loss per share of C$0.05, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA was C$98 million, 21 percent higher than the third quarter of 2018.

For the third-quarter, revenue was at C$376 million, a decrease of 2 percent compared with the third quarter of 2018. Analysts expected revenue of C$383.42 million for the quarter.

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