Precision reported 2Q15 EBITDAS of $98 mm, above our estimate of $73 mm due to higher-than-expected margins in Canada and the U.S. Higher turnkey and idle-but-contracted revenue played a significantly larger role than we anticipated in the quarter which helped financial performance.

27 Jul 2015
2Q15 Results above Expectations Due to Higher Margins

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2Q15 Results above Expectations Due to Higher Margins
Precision Drilling Corporation (PD:TSE) | 0 0 (-1.4%) | Mkt Cap: 1,237m
- Published:
27 Jul 2015 -
Author:
Ian B. Gillies -
Pages:
5 -
Precision reported 2Q15 EBITDAS of $98 mm, above our estimate of $73 mm due to higher-than-expected margins in Canada and the U.S. Higher turnkey and idle-but-contracted revenue played a significantly larger role than we anticipated in the quarter which helped financial performance.