PDS FY 2014 Earnings Report — Precision Drilling Corporation Revenue & Financial Results | Market Cap Arena

Precision Drilling CorporationPDS

FY 2014 Earnings

Reported December 31, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$1.7B	—	$1.5B	—	15.8%
Op. Income	$165M	—	$224M	—	-26.4%
Gross Margin	21.1%	—	22.1%	—	-1.0pp
Net Margin	1.4%	—	9.4%	—	-8.0pp
EPS (Diluted)	$1.61	—	$9.65	—	-83.3%
Free Cash Flow	-$129M	—	-$79M	—	-63.9%

Revenue Flow

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$1.4B
GROSS PROFIT	$363M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$106M
SG&A Expenses	$106M
Other Expenses	$93M
Operating Expenses	$198M
Cost & Expenses	$1.6B
OPERATING INCOME	$165M
Interest Income	$0
Interest Expense	$80M
Other Income/Expenses	-$149M
INCOME BEFORE TAX	$15M
Income Tax Expense	-$9M
Net Income from Continuing Ops	$24M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$24M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$24M
D&A	$328M
EBIT	$165M
EBITDA	$492M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$1.4B
GROSS PROFIT	$363M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$106M
SG&A Expenses	$106M
Other Expenses	$93M
Operating Expenses	$198M
Cost & Expenses	$1.6B
OPERATING INCOME	$165M
Interest Income	$0
Interest Expense	$80M
Other Income/Expenses	-$149M
INCOME BEFORE TAX	$15M
Income Tax Expense	-$9M
Net Income from Continuing Ops	$24M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$24M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$24M
D&A	$328M
EBIT	$165M
EBITDA	$492M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$24M
Depreciation & Amortization	$328M
Stock-Based Compensation	$12M
Deferred Income Tax	-$9M
Other Non-Cash Items	$155M
Change in Working Capital	-$13M
OPERATING CASH FLOW	$497M
Capital Expenditure	-$627M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$166M
NET CASH FROM INVESTING	-$461M
Net Debt Issuance	$297M
Common Stock Repurchased	$0
Common Dividends Paid	-$53M
Other Financing Activities	-$2M
NET CASH FROM FINANCING	$241M
FREE CASH FLOW	-$129M
Net Change in Cash	$301M

Balance Sheet

Item	Amount
Cash & Equivalents	$359M
Short-Term Investments	$0
Net Receivables	$386M
Inventory	$7M
Other Current Assets	$40M
TOTAL CURRENT ASSETS	$804M
PP&E (Net)	$2.9B
Goodwill	$161M
Intangible Assets	$2M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$43M
TOTAL NON-CURRENT ASSETS	$3.1B
TOTAL ASSETS	$3.9B
Account Payables	$216M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$5M
TOTAL CURRENT LIABILITIES	$366M
Long-Term Debt	$1.4B
Deferred Revenue NC	-$1.5B
Deferred Tax Liabilities	$356M
Other Non-Current Liabilities	$377M
TOTAL NON-CURRENT LIABILITIES	$1.7B
TOTAL LIABILITIES	$2.1B
Common Stock	$1.7B
Additional Paid-In Capital	$23M
Retained Earnings	$35M
Treasury Stock	$0
Accum. Other Comp. Income	$34M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.8B
Minority Interest	$0
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$3.9B
Total Debt	$1.4B
Net Debt	$995M