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Precision Drilling Meets 2024 Debt Repayment and Share Repurchase Targets and Provides Capital Allocation, Financial and Operational Updates
GlobeNewswire· 2025-01-07 11:00
Debt Repayment and Liquidity - Precision reduced debt by $176 million in 2024, achieving the mid-point of its debt reduction target range [3] - The company ended 2024 with a cash balance of approximately $74 million, compared to $54 million at year-end 2023 [3] - Total available liquidity at year-end 2024 was approximately $575 million [3] Capital Allocation and Shareholder Returns - Precision remains committed to its long-term debt reduction target of repaying $600 million between 2022 and 2026 [4] - The company returned $75 million to shareholders through share repurchases in 2024, reducing outstanding shares by 4% to 13,779,502 [5] - Since 2015, Precision has allocated $1.5 billion of free cash flow to debt repayments and share buybacks [6] - Annual interest expense decreased to approximately $40 million in 2024 from $104 million in 2016 [6] Financial and Operational Performance - Precision expects to release 2024 fourth quarter results on February 12, 2025, with drilling field margins in Canada and the U.S. aligning with previous guidance [8] - Share-based compensation expense for Q4 2024 is expected to be approximately $15 million, with full-year expense at $47 million [8] - In Canada, Precision maintained an average active rig count of 65 in Q4 2024, with current active rigs at 78 and expected to peak in the low to mid-80s during winter [9] - In the U.S., Precision averaged 34 rigs in Q4 2024, with 32 rigs currently operating and four earning standby revenue [11] - Internationally, Precision has eight active rigs under long-term contracts extending into 2028, with three in Saudi Arabia and five in Kuwait [12] Future Outlook and Strategy - Precision plans to further reduce debt and increase share buyback allocation in 2025, with specific capital allocation plans to be provided in February 2025 [7] - The company expects continued high activity levels for its Well Service business, with 85 to 100 crews projected to be operational in early January 2025 [12] - Precision's CFO highlighted the company's robust free cash flow generation in 2024, driven by increased activity in Canada, international growth, and the integration of CWC Energy Services [13] Company Overview - Precision is a leading provider of drilling services, offering an extensive fleet of Super Series drilling rigs and industry-leading digital technology portfolio known as Alpha [14] - The company's EverGreen suite of environmental solutions enhances its commitment to reducing environmental impact [14] - Precision also offers well service rigs, camps, rental equipment, and technical support services [14]
PagerDuty Declines 16% YTD: Should You Buy the Stock on the Dip?
ZACKS· 2024-12-18 16:31
PagerDuty (PD) shares have plunged 15.7% in the year-to-date period against the Zacks Internet - Software industry’s rise of 38.3% and the broader Zacks Computer & Technology sector’s return of 35.5%. PD has underperformed its peers, such as Atlassian (TEAM) , which offers similar digital operations management solutions. TEAM shares gained 13.5% over the same time frame.The underperformance can be attributed to ongoing weakness in the Small and Medium-sized Business segment and a challenging macroeconomic ...
PagerDuty Could Be A Winner In 2025 (Rating Upgrade)
Seeking Alpha· 2024-12-11 14:52
As we get ready to close out the year, I'm looking at a couple of recent laggards that could become winners in 2025. One name that is on my radar is digital operations management company PagerDuty (I am a market enthusiast and part-time trader. I started writing for Seeking Alpha in 2011, and it has been a tremendous opportunity and learning experience. I have been interested in the markets since elementary school, and hope to pursue a career in the investment management industry. I have been active in the ...
PagerDuty: Huge Upside Potential For This Underrated Stock
Seeking Alpha· 2024-11-29 18:23
We believe that cybersecurity is poised to become one of the biggest, most crucial industries globally over the next few decades, especially with the exponential rise in AI-assisted technology adoption and digital transitions across most industries coupledStock analysis brought to you by Jacques Georget. The analysis is based on a careful review of the growth prospects of each company. For valuation purposes, I often use the Discounted Cash Flow (DCF) model, sharing valuable insight on cash flow generation ...
Compared to Estimates, PagerDuty (PD) Q3 Earnings: A Look at Key Metrics
ZACKS· 2024-11-28 00:00
PagerDuty (PD) reported $118.95 million in revenue for the quarter ended October 2024, representing a year-over-year increase of 9.4%. EPS of $0.25 for the same period compares to $0.20 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $116.5 million, representing a surprise of +2.10%. The company delivered an EPS surprise of +56.25%, with the consensus EPS estimate being $0.16.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Str ...
PagerDuty(PD) - 2025 Q3 - Earnings Call Transcript
2024-11-27 21:28
PagerDuty, Inc. (NYSE:PD) Q3 2025 Earnings Conference Call November 26, 2024 5:00 PM ET Company Participants Tony Righetti - Vice President, Investor Relations Jennifer Tejada - Chairperson & Chief Executive Officer Howard Wilson - Chief Financial Officer Conference Call Participants Sanjit Singh - Morgan Stanley Rob Oliver - Baird Koji Ikeda - Bank of America Jeff Van Rhee - Craig-Hallum Andrew Sherman - TD Cowen Jacob Zerbib - William Blair Nick Altmann - Scotiabank Miller Jump - Truist Simran Biswal - RB ...
PagerDuty(PD) - 2025 Q3 - Quarterly Report
2024-11-27 21:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38856 _________________________ PAGERDUTY, INC. _____________________ ...
PagerDuty(PD) - 2025 Q3 - Earnings Call Presentation
2024-11-27 04:35
PagerDuty Investor presentation Q3 2025 Period ended October 31, 2024 | --- | --- | |-------------|-------| | | | | Safe harbor | | Purpose We empower teams with the time and efficiency to build the future. Vision An equitable world where we transform critical work so all teams can delight their customers and build trust. Mission To revolutionize operations and build customer trust by anticipating the unexpected in an unpredictable world. PagerDuty Q3 overview Quarterly revenue Non-GAAP operating margin Pai ...
PagerDuty (PD) Q3 Earnings and Revenues Top Estimates
ZACKS· 2024-11-26 23:26
PagerDuty (PD) came out with quarterly earnings of $0.25 per share, beating the Zacks Consensus Estimate of $0.16 per share. This compares to earnings of $0.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 56.25%. A quarter ago, it was expected that this software developer would post earnings of $0.16 per share when it actually produced earnings of $0.21, delivering a surprise of 31.25%.Over the last four quarters, the compa ...
PagerDuty(PD) - 2025 Q3 - Quarterly Results
2024-11-26 21:07
PagerDuty Announces Third Quarter Fiscal 2025 Financial Results Third quarter revenue increased 9% year over year to $119 million Ending ARR grew 10% year over year to $483 million Third quarter loss from operations was $10 million; non-GAAP operating income was $25 million SAN FRANCISCO – (BUSINESS WIRE) – November 26, 2024 – PagerDuty, Inc. (NYSE:PD), a leader in digital operations management, today announced financial results for the third quarter of fiscal 2025, ended October 31, 2024. "PagerDuty delive ...