Precision drilling corporation announces 2020 q1 unaudited financial results

Oration announces 2020 first quarter unaudited financial results.q1 loss per share c$0.02.q1 revenue c$379 million versus refinitiv ibes estimate of c$379.4 million.q1 earnings per share estimate c$-0.03 -- refinitiv ibes data."in a reduced-activity environment, we anticipate our customers will further stress operational efficiencies".q1 ending cash balance was $97 million, an increase of $22 million from december 31, 2019.precision drilling - believe expenditure reductions, other cash preservation measures will reduce 2020 annualized cash outflow by more than $100 million.priorities for 2020 is to generate strong free cash flow and reduce debt by $100 million to $150 million.precision drilling - co expects significant & sustained reduction in customer demand for oil and gas services well into next year."q1 results were only nominally impacted by commodity price collapse".
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