Precision Drilling (TSE:PD) Second Quarter 2024 Results
Key Financial Results
- Revenue: CA$429.2m (flat on 2Q 2023).
- Net income: CA$20.7m (down 23% from 2Q 2023).
- Profit margin: 4.8% (down from 6.3% in 2Q 2023).
- EPS: CA$1.44 (down from CA$1.97 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Precision Drilling Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates significantly.
Looking ahead, revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 5.3% decline forecast for the Energy Services industry in Canada.
Performance of the Canadian Energy Services industry.
The company's shares are down 4.7% from a week ago.
Risk Analysis
We should say that we've discovered 4 warning signs for Precision Drilling (2 are a bit unpleasant!) that you should be aware of before investing here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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About TSX:PD
Precision Drilling
A drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East.
Very undervalued slight.
