Pioneer Energy Services (PES) Misses Q1 EPS by 11c, Beat on Revenues

Pioneer Energy Services (NYSE: PES) reported Q1 EPS of ($0.33), $0.11 worse than the analyst estimate of ($0.22). Revenue for the quarter came in at $95.76 million versus the consensus estimate of $89.34 million.

Second Quarter 2017 Guidance

In the second quarter of 2017, drilling rig utilization is estimated to average 72% to 75%. Drilling Services Segment margin will be down due to the temporary reduced activity in Colombia and is estimated to be approximately $6,800 to $7,200 per day in the second quarter. Production Services Segment revenue in the second quarter is estimated to be up approximately 10% to 15% as compared to the first quarter of 2017. Production Services Segment margin is estimated to be 22% to 25% of revenues in the second quarter.

For earnings history and earnings-related data on Pioneer Energy Services (PES) click here.

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