Precision Drilling Q1 Profit Plunges - Quick Facts

(RTTNews) - Precision Drilling Corp. (PD.TO, PDS) reported first-quarter net earnings of C$24.0 million or C$0.08 per share, compared to net earnings of C$101.6 million or C$0.35 per share in the prior-year quarter. On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of C$0.04 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the latest first quarter declined 23.8 percent to C$512.12 million from C$672.25 million in the same quarter last year. Analysts expected revenues of C$491.55 million.

In addition, the board declared a dividend of C$0.07 per common share, payable on May 29 2015, to shareholders of record on May 15, 2015.