Precision Drilling Q3 EPS $1.69 Misses $1.85 Estimate, Sales $349.77M Miss $362.83M Estimate
Portfolio Pulse from totan@benzinga.com
Precision Drilling reported Q3 earnings of $1.69 per share, missing the $1.85 estimate, and sales of $349.77M, missing the $362.83M estimate. Despite missing estimates, earnings increased by 56.48% and sales by 5.03% compared to last year.
October 29, 2024 | 9:30 pm
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NEGATIVE IMPACT
Precision Drilling's Q3 earnings and sales both missed analyst estimates, with EPS at $1.69 vs. $1.85 expected and sales at $349.77M vs. $362.83M expected. Despite the miss, EPS increased by 56.48% and sales by 5.03% year-over-year.
The earnings and sales figures both missed analyst expectations, which is typically viewed negatively by the market, likely leading to a short-term decrease in stock price. However, the significant year-over-year growth in both earnings and sales may mitigate some negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100