Precision Drilling GAAP EPS of $1.34 misses by $0.41, revenue of $526M beats by $154.45M
Precision Drilling reported a Q1 GAAP EPS of $1.34, missing estimates by $0.41, while revenue of $526M exceeded expectations by $154.45M. The company generated $63M in cash from operations, repurchased 36,874 shares for $4M, and reduced long-term debt by $25M. Adjusted EBITDA fell 10% to $124M due to increased share-based compensation and rig reactivation costs. Precision ended the quarter with $41M in cash and over $430M in available liquidity.
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