Guarantor Subsidiaries was Precision Drilling’s largest revenue line in fiscal 2017, bringing in $1.14B of $1.32B (86%).
| Consolidated And Separate Financial Statements | FY 2016 | FY 2017 |
|---|---|---|
| Guarantor Subsidiaries | $846.87M | $1.14B |
| Non-Guarantor Subsidiaries | $169.29M | $190.40M |
| Consolidating Adjustments | -$13.02M | -$7.32M |
| Total | $1.00B | $1.32B |
Precision Drilling brought in $1.32B from its three revenue lines in fiscal 2017, the year ended December 31, 2017. That was up 31.7% from $1.00B in fiscal 2016. Guarantor Subsidiaries was the largest at $1.14B (86.1%), ahead of Non-Guarantor Subsidiaries at $190.40M (14.4%).
Compared with fiscal 2016, Guarantor Subsidiaries grew 34.4% to $1.14B and Non-Guarantor Subsidiaries grew 12.5% to $190.40M.
The total is net of Consolidating Adjustments, which took $7.32M off revenue in fiscal 2017.
Day Rate Or Hourly Services was Precision Drilling’s largest revenue line in fiscal 2020, bringing in $856.24M of $941.99M (91%).
| Products And Services | FY 2017 | FY 2018 | FY 2019 | FY 2020 |
|---|---|---|---|---|
| Day Rate Or Hourly Services | $1.08B | $1.30B | $1.33B | $856.24M |
| Directional Services | $34.48M | $31.94M | $41.88M | $9.64M |
| Shortfall Payments Or Idle But Contracted | $39.47M | $12.52M | $9.79M | $51.03M |
| Turnkey Drilling Services | $12.31M | $37.81M | $3.75M | $14.13M |
| Other | $11.66M | $11.64M | $10.54M | $10.96M |
| Total | $1.17B | $1.40B | $1.40B | $941.99M |
Precision Drilling brought in $941.99M from its five revenue lines in fiscal 2020, the year ended December 31, 2020. That was down 32.7% from $1.40B in fiscal 2019. Day Rate Or Hourly Services was the largest at $856.24M (90.9%), ahead of Shortfall Payments Or Idle But Contracted at $51.03M (5.4%) and Turnkey Drilling Services at $14.13M (1.5%). The other two revenue lines brought in $20.59M combined.
Compared with fiscal 2019, Shortfall Payments Or Idle But Contracted grew 421.3% to $51.03M, while Day Rate Or Hourly Services fell 35.8% to $856.24M. From fiscal 2017 to 2020, combined revenue from these revenue lines fell from $1.17B to $941.99M, a compound annual decline of 7.1%. Day Rate Or Hourly Services' share of the total fell from 91.7% to 90.9%.
As Previously Reported was Precision Drilling’s largest revenue line in fiscal 2016, bringing in $951.41M of $1.00B (95%).
| Retrospective Application And Retrospective Restatement | FY 2016 |
|---|---|
| As Previously Reported | $951.41M |
| Revenue Reclassification | $51.82M |
| Total | $1.00B |
Precision Drilling brought in $1.00B from its two revenue lines in fiscal 2016, the year ended December 31, 2016. As Previously Reported was the largest at $951.41M (94.8%), ahead of Revenue Reclassification at $51.82M (5.2%).
Precision Drilling (PDS) reports its revenue by consolidated and separate financial statements, by products and services and by retrospective application and retrospective restatement. In fiscal 2017, Guarantor Subsidiaries was its largest revenue line, bringing in $1.14B (86.1% of the total), followed by Non-Guarantor Subsidiaries at $190.40M (14.4%).
Guarantor Subsidiaries was Precision Drilling's largest revenue line in fiscal 2017, bringing in $1.14B, or 86.1% of the $1.32B total across its three revenue lines.
Guarantor Subsidiaries grew faster than Non-Guarantor Subsidiaries in fiscal 2017, up 34.4% from $846.87M to $1.14B. Non-Guarantor Subsidiaries grew 12.5% to $190.40M.
Every figure comes from Precision Drilling's annual financial filings, as reported. Each line keeps the name Precision Drilling gives it, and years follow its fiscal calendar.
Precision Drilling's revenue by consolidated and separate financial statements goes back to fiscal 2016, with figures through fiscal 2017. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.