Precision Drilling Corporation (PDS) Income Statement Analysis

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Complete financial analysis of Precision Drilling Corporation (PDS) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Precision Drilling Corporation, a leading company in the Oil & Gas Drilling industry within the Energy sector.

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Precision Drilling Corporation (PDS)

Industry: Oil & Gas Drilling

Sector: Energy

Website: https://www.precisiondrilling.com

About Precision Drilling Corporation

Precision Drilling Corporation, 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. The company operates in two segments, Contract Drilling Services; and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry. This segment's services include land and turnkey drilling; and procurement and distribution of oilfield supplies, as well as manufacture and refurbishment of drilling and service rig equipment. As of December 31, 2021, it operated 227 land drilling rigs, including 109 in Canada; 105 in the United States; 6 in Kuwait; 4 in Saudi Arabia; 2 in the Kurdistan region of Iraq; and 1 in the country of Georgia. As of December 31, 2021, this segment also operated 47 AlphaTM rigs with commercial AlphaAutomation; 18 AlphaApps; 4 grid power capable rigs; and 60 natural gas or bi-fuel rigs. The Completion and Production Services segment provides service rigs for well completion, workover, abandonment, maintenance, and re-entry preparation services; wellsite accommodations; oilfield surface equipment rentals; and camp and catering services to oil and natural gas exploration and production companies. As of December 31, 2021, it operated 123 well completion and workover service rigs, including 113 in Canada and 10 in the United States; 1,900 oilfield rental items, including surface storage, small-flow wastewater treatment, power generation, and solids control equipment; 109 wellsite accommodation units; 943 drill camp beds; 822 base camp beds; and three kitchen diners in Canada. Precision Drilling Corporation was incorporated in 1951 and is headquartered in Calgary, Canada.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996
Revenue	1.94B	1.62B	986.85M	935.75M	1.54B	1.54B	1.32B	951.41M	1.56B	2.35B	2.03B	2.04B	1.95B	1.43B	1.20B	1.10B	1.01B	1.44B	1.27B	2.33B	1.92B	1.69B	1.95B	1.36B	511.40M	1.01B	455.00M	163.10M
Cost of Revenue	1.20B	1.40B	980.47M	899.74M	1.37B	1.43B	1.30B	998.95M	1.41B	1.85B	1.58B	1.55B	1.13B	886.75M	692.24M	598.18M	516.09M	688.21M	641.80M	1.47B	1.27B	1.19B	1.24B	869.48M	345.50M	619.40M	314.90M	111.80M
Gross Profit	733.31M	213.56M	6.38M	36.01M	168.74M	107.66M	17.31M	-47.54M	144.63M	496.04M	448.18M	489.92M	820.01M	542.91M	505.20M	503.71M	493.11M	749.38M	627.37M	853.99M	644.50M	498.16M	715.44M	485.97M	165.90M	393.10M	140.10M	51.30M
Gross Profit Ratio	37.84%	13.21%	0.65%	3.85%	10.95%	6.99%	1.31%	-5.00%	9.30%	21.10%	22.08%	24.01%	42.03%	37.97%	42.19%	45.71%	48.86%	52.13%	49.43%	36.73%	33.60%	29.49%	36.62%	35.85%	32.44%	38.82%	30.79%	31.45%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	48.76M	42.42M	34.86M	32.44M	20.29M	3.60M	0.00	0.00	0.00
General & Administrative	122.19M	180.99M	95.93M	70.87M	104.01M	112.39M	90.07M	110.29M	136.78M	144.34M	142.51M	126.65M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling & Marketing	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SG&A	122.19M	180.99M	95.93M	70.87M	104.01M	112.39M	90.07M	110.29M	136.78M	144.34M	142.51M	126.65M	124.94M	107.52M	98.20M	67.17M	56.03M	81.22M	76.40M	173.67M	136.75M	158.49M	153.50M	102.85M	41.30M	59.30M	29.40M	12.30M
Other Expenses	0.00	0.00	0.00	0.00	20.26M	-14.20M	0.00	-7.61M	166.49M	126.70M	0.00	192.47M	366.38M	182.72M	220.17M	83.83M	80.72M	72.88M	68.09M	207.10M	168.22M	145.79M	145.12M	124.75M	57.90M	72.60M	25.20M	7.70M
Operating Expenses	122.19M	180.99M	95.93M	70.87M	124.27M	98.19M	90.07M	102.68M	303.26M	271.04M	142.51M	319.12M	376.42M	290.24M	195.53M	151.00M	136.76M	154.10M	144.48M	429.54M	347.39M	339.14M	331.06M	247.89M	102.80M	131.90M	54.60M	20.00M
Cost & Expenses	1.33B	1.58B	1.08B	970.61M	1.50B	1.53B	1.39B	1.10B	1.71B	2.13B	1.72B	1.87B	1.51B	1.18B	887.77M	749.19M	652.85M	842.31M	786.29M	1.90B	1.62B	1.53B	1.57B	1.12B	448.30M	751.30M	369.50M	131.80M
Interest Income	1.39M	323.00K	210.00K	739.00K	1.58M	1.44M	1.86M	3.45M	17.86M	987.00K	967.00K	1.93M	1.68M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	84.81M	87.81M	91.43M	107.47M	118.45M	127.18M	137.93M	146.36M	121.04M	109.70M	93.25M	86.83M	115.33M	211.33M	147.40M	10.09M	6.76M	0.00	0.00	43.87M	29.98M	38.87M	70.41M	28.63M	12.50M	15.30M	3.30M	1.50M
Depreciation & Amortization	285.79M	279.04M	282.33M	316.32M	333.62M	365.66M	377.75M	391.66M	486.66M	448.67M	333.16M	307.53M	251.48M	182.72M	138.00M	84.63M	78.33M	73.23M	73.01M	205.41M	172.07M	141.43M	181.31M	124.75M	57.90M	72.60M	25.20M	7.70M
EBITDA	599.35M	311.61M	181.31M	309.14M	365.20M	375.13M	275.15M	221.63M	53.64M	673.33M	637.05M	478.32M	577.76M	447.62M	447.67M	435.29M	437.07M	668.16M	555.90M	407.72M	453.15M	276.68M	532.95M	361.30M	185.88M	193.80M	333.80M	110.70M
EBITDA Ratio	30.93%	19.27%	19.53%	30.08%	24.53%	24.34%	23.08%	25.38%	21.09%	28.66%	31.47%	23.44%	35.63%	30.45%	37.39%	39.50%	43.31%	46.45%	56.16%	27.02%	24.15%	17.99%	28.81%	26.77%	23.84%	32.98%	24.35%	24.10%
Operating Income	611.12M	32.57M	-89.55M	-34.86M	44.46M	9.47M	-88.08M	-155.98M	-461.26M	225.00M	305.67M	170.80M	328.69M	252.66M	186.83M	352.71M	356.35M	595.28M	465.38M	424.45M	297.11M	159.02M	384.38M	238.08M	63.10M	261.20M	85.50M	31.30M
Operating Income Ratio	31.54%	2.01%	-9.07%	-3.73%	2.88%	0.61%	-6.67%	-16.39%	-29.65%	9.57%	15.06%	8.37%	16.85%	17.67%	15.60%	32.01%	35.31%	41.41%	36.67%	18.25%	15.49%	9.41%	19.68%	17.56%	12.34%	25.80%	18.79%	19.19%
Total Other Income/Expenses	-345.34M	-46.71M	-182.78M	-109.18M	-52.80M	-322.85M	-143.98M	-152.61M	-104.91M	-203.93M	-84.14M	-143.12M	-87.90M	-226.47M	-106.73M	-12.13M	-9.72M	-7.27M	-172.15M	-41.38M	-17.82M	-18.78M	-71.60M	-30.46M	25.04M	-5.30M	-15.20M	-3.20M
Income Before Tax	265.78M	-14.14M	-182.78M	-109.18M	-8.34M	-323.60M	-232.06M	-308.59M	-566.17M	21.08M	221.54M	27.68M	240.78M	54.05M	162.27M	340.57M	349.03M	587.66M	293.23M	382.44M	263.66M	123.57M	311.05M	209.41M	51.50M	246.00M	82.30M	30.10M
Income Before Tax Ratio	13.72%	-0.87%	-18.52%	-11.67%	-0.54%	-21.00%	-17.56%	-32.43%	-36.40%	0.90%	10.91%	1.36%	12.34%	3.78%	13.55%	30.91%	34.59%	40.88%	23.10%	16.45%	13.75%	7.32%	15.92%	15.45%	10.07%	24.30%	18.09%	18.45%
Income Tax Expense	-23.47M	20.15M	-5.40M	10.95M	-14.96M	-29.33M	-100.02M	-153.03M	-202.74M	-12.08M	30.39M	-24.68M	47.31M	-8.04M	570.00K	37.84M	6.21M	15.15M	72.38M	131.56M	72.53M	32.31M	123.01M	77.85M	30.90M	128.50M	39.90M	12.50M
Net Income	289.24M	-34.29M	-177.39M	-120.14M	6.62M	-294.27M	-132.04M	-155.56M	-363.44M	33.15M	191.15M	52.36M	193.48M	62.09M	161.70M	302.73M	345.78M	579.59M	1.63B	247.40M	188.68M	91.27M	188.04M	131.56M	20.60M	117.50M	42.40M	17.60M
Net Income Ratio	14.93%	-2.12%	-17.98%	-12.84%	0.43%	-19.09%	-9.99%	-16.35%	-23.36%	1.41%	9.42%	2.57%	9.92%	4.34%	13.50%	27.47%	34.26%	40.32%	128.47%	10.64%	9.84%	5.40%	9.63%	9.71%	4.03%	11.60%	9.32%	10.79%
EPS	19.53	-2.53	-13.32	-8.76	0.46	-20.05	-9.01	-10.61	-24.82	2.20	13.80	3.80	14.00	4.60	13.00	44.60	55.00	92.40	264.40	12.41	9.63	9.16	20.42	15.66	4.47	8.21	2.07	1.51
EPS Diluted	18.92	-2.53	-13.32	-8.76	0.45	-20.05	-9.01	-10.61	-24.82	2.20	13.20	3.60	13.40	4.40	12.60	44.60	55.00	92.40	260.00	12.24	9.45	8.99	19.95	15.14	4.41	7.77	1.97	1.39
Weighted Avg Shares Out	14.81M	13.55M	13.32M	13.72M	14.54M	14.68M	14.66M	14.66M	14.64M	14.63M	13.88M	13.81M	13.79M	13.78M	12.50M	6.78M	6.29M	6.27M	6.17M	19.93M	18.74M	9.27M	9.14M	8.31M	7.67M	14.32M	20.45M	11.67M
Weighted Avg Shares Out (Dil)	15.29M	13.55M	13.32M	13.72M	14.86M	14.68M	14.66M	14.66M	14.64M	14.69M	14.39M	14.33M	14.44M	14.25M	12.98M	6.80M	6.29M	6.27M	6.27M	20.22M	19.09M	9.45M	9.35M	8.60M	7.77M	15.12M	21.50M	12.64M

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February 10, 2023zacks.com

Investors need to pay close attention to Precision Drilling (PDS) stock based on the movements in the options market lately.

Precision Drilling Corporation (PDS) Q4 2022 Earnings Call Transcript

February 9, 2023seekingalpha.com

Precision Drilling Corporation (NYSE:PDS ) Q4 2022 Earnings Conference Call February 9, 2023 2:00 PM ET Company Participants Lavonne Zdunich - Director of Investor Relations Carey Ford - Senior Vice President & Chief Financial Officer Kevin Neveu - President &...

Precision Drilling (PDS) Q4 Earnings Miss Estimates

February 9, 2023zacks.com

Precision Drilling (PDS) delivered earnings and revenue surprises of -89.53% and 3.86%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

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While many investors now believe inflation and elevated energy prices are in the rear-view mirror there are still catalysts that can cause energy prices to rally in 2023

Precision Drilling (PDS) Upgraded to Strong Buy: Here's What You Should Know

January 11, 2023zacks.com

Precision Drilling (PDS) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

Precision Drilling Corporation 2022 Fourth Quarter and Year-End Results Conference Call and Webcast

January 9, 2023globenewswire.com

CALGARY, Alberta, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (“Precision”) intends to release its 2022 fourth quarter and year-end results before the market opens on Thursday, February 9, 2023, and has scheduled a conference call to begin at...