July 23 (Reuters) - Precision Drilling Corp PD.TO :
* ORATION ANNOUNCES 2020 SECOND QUARTER UNAUDITED FINANCIAL RESULTS
* Q2 REVENUE C$190 MILLION VERSUS REFINITIV IBES ESTIMATE OF C$187.7 MILLION
* QTRLY NET LOSS OF $49 MILLION OR NEGATIVE $0.18 PER DILUTED SHARE
* PRECISION DRILLING - RECOGNIZED RESTRUCTURING CHARGES OF $6 MILLION AND GOVERNMENT OF CANADA WAGE SUBSIDIES OF $9 MILLION IN QUARTER
* NOW EXPECT TOTAL ANNUALIZED FIXED COST REDUCTIONS TO BE 35%
* CASH PRESERVATION MEASURES, WAGE SUBSIDY PROGRAM WILL REDUCE TOTAL 2020 CASH OUTFLOWS BY UP TO $150 MILLION
* Q2 EARNINGS PER SHARE VIEW C$-0.19 -- REFINITIV IBES DATA