
Precision Drilling: Q4 Earnings Snapshot
CALGARY, Alberta — CALGARY, Alberta — Precision Drilling Corp. (PDS) on Wednesday reported profit of $10.6 million in its fourth quarter.
The Calgary, Alberta-based company said it had profit of 76 cents per share.
The oilfield services company posted revenue of $334.6 million in the period.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
14 minutes ago
- Yahoo
Exclusive-UnitedHealth eyes $1 billion deal to exit Latin America as insurer refocuses on US, sources say
By Tatiana Bautzer and Sabrina Valle NEW YORK (Reuters) -UnitedHealth Group is weighing multiple bids for its Latin American operations, according to two people with direct knowledge of the matter, as the insurer buckles down after a series of unprecedented missteps that include the ouster of its CEO and a reported criminal accounting probe. The largest U.S. health insurer has been trying to exit Latin America since 2022, but the sale of Banmedica has taken on increasing urgency in recent months as the insurer took hits on multiple fronts, according to one of the people. New CEO Steve Hemsley told shareholders last week that he was determined to earn back their trust after an earnings miss and a Wall Street Journal report that the company was under criminal investigation for alleged Medicare fraud. UnitedHealth has said it was not notified by the Department of Justice and that it stands by the integrity of its operations. Hemsley replaced Andrew Witty as CEO, who had been in the post for only a matter of months following the murder of his predecessor, Brian Thompson, in New York in December while on his way to a meeting with investors. The company has four non-binding bids for its Banmedica subsidiary, which operates in Colombia and Chile, for about $1 billion, according to both people, who asked not to be identified because the talks are private. UnitedHealth's shares tumbled 25.5% in May alone and year-to-date are down 40%. UnitedHealth left Brazil in 2023 and Peru in March. It's aiming to get around $1 billion for Banmedica's operations in Colombia and Chile, the people said. The two people said the company expects to set a deadline for binding proposals as soon as July. UnitedHealth received bids from Washington, D.C.-based private equity firm Acon Investments; Sao Paulo-based private equity firm Patria Investments; Texas non-profit health firm Christus Health; and Lima-based healthcare and insurance provider Auna, the people said. Auna is in talks with a financial partner, one of the sources added. Banmedica's annual earnings before income taxes, depreciation and amortization, or EBITDA, is more than $200 million a year. Patria and Christus Health declined to comment. UnitedHealth, Acon and Auna did not respond to requests for comment. FAILED EXPANSION PLANS UnitedHealth bought Banmedica in 2018, with CEO David Scott saying he was "establishing a foundation for growth in South America for the next decades." At the time, UnitedHealth paid around 12 times Banmedica's EBITDA, according to one of the people. Three years later, the insurer decided to leave Latin America as it grappled with losses in its largest operation in the region, Brazil's Amil, which had been acquired a decade earlier. It divested from its Brazilian operations in late 2023. Banmedica is currently profitable, but is considered too small by UnitedHealth. It serves over 2.1 million consumers through its health insurance programs and has around 4 million patient visits annually across its network of 13 hospitals and 143 medical centers. UnitedHealth booked an $8.3 billion loss last year related to the sale of its South American operations - $7.1 billion stemming from the Brazil exit and $1.2 billion from Banmedica. "These losses relate to our strategic exit of South American markets and include significant losses related to foreign currency translation effects," the company said in a February filing. Brazilian investment bank BTG Pactual is advising UnitedHealth on the sale.


Bloomberg
15 minutes ago
- Bloomberg
Jefferies Hiring 17 Traders as Outsourcing Booms on Wall Street
Jefferies Financial Group Inc. has begun the process of hiring more than a dozen traders in order to capitalize on a quiet shift in Wall Street money management: the outsourcing of the buy-side trader. The New York-based firm has already recruited nine additional traders for the effort and plans to bring eight more on board. With the extra staff, Jefferies is planning to push into offering outsourced trading for fixed-income products in addition to the equities desk it's had for years.


Bloomberg
15 minutes ago
- Bloomberg
Trump's Tariff Chaos Threatens His Push for Rust Belt Revival
President Donald Trump's signature trade policy is threatening to backfire by upending other top priorities: the revival of US manufacturing and the American Rust Belt. In Illinois, Trump's tariffs prompted a compressor maker to delay a key equipment purchase after an ambitious factory revamp. Rockwell Automation Inc., a Wisconsin-based producer of factory tools, says some manufacturers are putting projects on hold because of uncertainty over costs and future demand. Snap-on Inc. is seeing similar hesitancy among car mechanics.