Pioneer Energy Services (PES) Misses Q3 EPS by 6c

Pioneer Energy Services (NYSE: PES) reported Q3 EPS of $0.09, $0.06 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $273.3 million versus the consensus estimate of $270.13 million.

Fourth Quarter Guidance

In the fourth quarter of 2014, drilling rig utilization is expected to average between approximately 89% and 92%, based on a fleet of 62 rigs. Drilling Services Segment margin is expected to be approximately $8,400 to $8,700 per day.

Production Services Segment revenue in the fourth quarter is expected to be down approximately 5% to 7% as compared to the third quarter due to normal seasonality. Production Services Segment margin as a percentage of revenues is expected to be down approximately 1% to 2% as compared to the third quarter.

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

You May Also Be Interested In

• SolarEdge (SEDG) PT Lowered to $31 at Jefferies, 'We see shares as an unappealing short, not a compelling long'
• CrowdStrike (CRWD) PT Raised to $119 at Bernstein SocGen Group
• Vince acquires OVO streetwear brand in multi-party deal