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LONDON, UK / ACCESSWIRE / March 29, 2018 / Active-Investors.com has just released a free earnings report on Precision Drilling Corp. (NYSE: PDS). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=PDS. The Company released its financial results on February 15, 2018, for the fourth quarter fiscal 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Calgary, Alberta-based Company's total revenues grew 14.7% y-o-y. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Cypress Energy Partners, L.P. (NYSE: CELP), which also belongs to the Basic Materials sector as the Company Precision Drilling. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Precision Drilling most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=PDS

Earnings Highlights and Summary

For Q4 FY17, Precision Drilling's total revenues increased to C$347.19 million from C$302.65 million in Q4 FY16. The Company attributed the growth in revenues to higher activities in its North American-based businesses, and partially offset by a decrease in average day rate in its US contract drilling business and no utilization in its Mexico-based contract drilling business.

The oil drilling Company reported a net loss of C$47.01 million, or C$0.16 loss per diluted share, in Q4 FY17 compared to a net loss of C$30.62 million, or C$0.10 loss per diluted share, in Q4 FY16. Furthermore, the Company's loss in the reported quarter included an asset impairment charge of C$0.03 per diluted share at its Mexico-based contract drilling business, and a charge of C$0.05 per diluted share arising due to changes in US tax regulations.

For the full year FY17, the Company reported total revenues of C$1.32 billion, surging 32% from C$1.00 billion in FY16. The Company's net loss narrowed to C$132.04 million, or C$0.45 loss per diluted common share, in FY17 from a net loss of C$155.56 million, or C$0.53 loss per diluted common share, in FY16.

Operating Metrics

During the reported quarter, Precision Drilling's operating expenses increased to C$233.82 million from C$206.58 million in the prior year's same period. The Company's general and administrative (G&A) expenses came in at C$22.45 million in Q4 FY17 versus C$31.07 million in Q4 FY16. The Company reported an operating loss of C$18.63 million in Q4 FY17 versus an operating loss of C$30.20 million in Q4 FY16. During Q4 FY17, the Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) were C$90.91 million compared to C$65.00 million in Q4 FY16.

Segment Results

Precision Drilling's Contract Drilling Services segment's revenues came in at C$308.97 million in Q4 FY17 versus C$273.67 million in the year ago comparable quarter. Furthermore, the segment's adjusted EBITDA stood at C$100.28 million in Q4 FY17 compared to C$86.35 million in Q4 FY16.

In Q4 FY17, Precision Drilling's Completion and Production Services segment's revenues increased to C$40.60 million from C$30.71 million in Q4 FY16. Furthermore, the segment reported an adjusted EBITDA of C$2.71 million in Q4 FY17 compared to C$0.39 million in the last year's corresponding quarter.

Balance Sheet

For the quarter ended December 31, 2017, Precision Drilling generated cash from its operating activities of C$28.32 million compared to C$11.47 million in the previous year's same quarter. As on December 31, 2017, the Company had cash and cash equivalents of C$65.08 million compared to C$115.71 million as on December 31, 2016. Furthermore, the Company reported a long-term debt amounting to C$1.73 billion as on December 31, 2017, versus C$1.91 billion as on December 31, 2016.

Stock Performance Snapshot

March 28, 2018 - At Wednesday's closing bell, Precision Drilling's stock dropped 3.27%, ending the trading session at $2.66.

Volume traded for the day: 1.10 million shares.

After yesterday's close, Precision Drilling's market cap was at $780.02 million.

The stock is part of the Basic Materials sector, categorized under the Oil & Gas Equipment & Services industry.

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