Precision drilling corp reports qtrly net loss of $49 mln

Oration announces 2020 second quarter unaudited financial results.q2 revenue c$190 million versus refinitiv ibes estimate of c$187.7 million.qtrly net loss of $49 million or negative $0.18 per diluted share.precision drilling - recognized restructuring charges of $6 million and government of canada wage subsidies of $9 million in quarter.now expect total annualized fixed cost reductions to be 35%.cash preservation measures, wage subsidy program will reduce total 2020 cash outflows by up to $150 million.q2 earnings per share view c$-0.19 -- refinitiv ibes data.
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