CALGARY, Alberta (AP) _ Precision Drilling Corp. (PDS) on Thursday reported a loss of $35.3 million in its second quarter.
The Calgary, Alberta-based company said it had a loss of 13 cents per share. Losses, adjusted for restructuring costs, were 11 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The oilfield services company posted revenue of $136.9 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $132.1 million.
The company's shares closed at 65 cents. A year ago, they were trading at $1.73.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PDS at https://www.zacks.com/ap/PDS
The Associated Press
