Precision Drilling Corp. earned $25 million or eight cents per diluted share for the quarter ended March 31. (Photo by THE CANADIAN PRESS)

Precision Drilling reports first-quarter profit, revenue up from year ago

CALGARY — Precision Drilling Corp. says it earned a profit in its latest quarter compared with a loss a year ago as its revenue improved eight per cent.

The company says it earned $25 million or eight cents per diluted share for the quarter ended March 31.

That compared with a loss of $18.1 million or six cents per diluted share in the same quarter a year ago.

Revenue for the three-month period grew to $434 million, compared with $401 million.

Excluding sale of drilling assets in Mexico and restructuring charges, Precision Drilling says it earned $1 million or zero cents per diluted share in the quarter.

Analysts on average had expected a loss of five cents per share and revenue of $408.6 million for the quarter, according to Thomson Reuters Eikon.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Red Deer area residents who were quarantined on cruise ship near Japan back in Canada

Central Alberta residents are safe and test negative for coronavirus

Alberta doctors getting ready for court fight against new pay, benefits deal

EDMONTON — The head of the Alberta Medical Association says it’s preparing… Continue reading

Eyes on police after Trudeau orders blockades torn down, injunctions enforced

All eyes are on Canadian police forces now that Prime Minister Justin… Continue reading

Ontario Tories hold annual policy convention amid union protests

NIAGARA FALLS, Ont. — Labour activists plan to hold a demonstration outside… Continue reading

SARS lessons help Canada prep for COVID-19, but hospital capacity a worry

OTTAWA — Canadian medical experts say the country’s already overstretched emergency rooms… Continue reading

Fashion Fridays: The 8 best quality online stores! Shop the ultimate sales

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

Your community calendar

Feb. 19 A Liberation of Holland event is being held at the… Continue reading

Saskatchewan’s chief coroner warns public after fatal drug overdoses in Regina

REGINA — Two deaths and dozens of drug overdoses in Regina have… Continue reading

A champion, again: Humphries wins 3rd women’s bobsled title

Kaillie Humphries of the U.S. is a bobsled champion again, winning her… Continue reading

Canada’s Kingsbury finishes first in moguls for 62nd World Cup victory

TAZAWAKO, Japan — Canada’s Mikael Kingsbury earned his 62nd World Cup victory… Continue reading

Cruise-ship evacuees arrive for quarantine in Canada as first Wuhan evacuees let go

OTTAWA — A plane carrying 129 Canadians and their families who have… Continue reading

Trudeau says rail blockades have to end

TORONTO — Prime Minister Justin Trudeau said Friday indigenous barricades that are… Continue reading

HIV-themed ‘Friends’ edit pulled after copyright claim from Warner Bros.

TORONTO — A Toronto-based HIV-AIDS hospital has pulled an edited “Friends” episode… Continue reading

Spurgeon records hat trick to lead Wild to 5-3 victory over Oilers

Wild 5 Oilers 3 EDMONTON — Jared Spurgeon scored three goals as… Continue reading

Most Read