Would you add to a position in a TFSA at this level?
Thank you
PSI reported EPS of 14c missing estimates of 20c. Revenue beat estimates of $93.67M coming in at $95.86M and displaying a 13% year-over-year increase. The North American Drilling business unit generated revenue of $63.8M declining 5% year-over-year. The International Drilling business unit generated $15.3M of revenue, increasing 2%. The company's new 'Completions' business unit (formed from the IWS acquisition contributed) $13M in revenue. Solar and Energy Storage saw revenue of $3.1M, an increase of 31%. Adjusted EBITDA was $33.1M on a margin of 34.6%, down from 44.7% in the prior year period. Adjusted EBITDA was down due to a 13% declinine in North American drilling activity and weaker margins as a result of the the inclusion of the IWS acquisition. Not a great quarter from PSI, but it did a decent job shielding itself from a weak drilling market and some of its smaller segements provided offsetting revenue growth.