Earnings ·
Precision Drilling Corporation reported second quarter 2026 revenue of $453 million, an 11% increase from the prior…
PDSPRECISION DRILLING Corp
Precision Drilling Corporation reported second quarter 2026 revenue of $453 million, an 11% increase from the prior year period. Adjusted EBITDA declined 10% to $97 million due to higher U.S. rig reactivation costs and lower international margins. The company recorded a net loss attributable to shareholders of $1 million, driven by an $11 million increase in depreciation expense following revised useful life estimates for drill pipe. Cash from operations was $146 million, enabling the reduction of long-term debt by $50 million and share repurchases totaling $12 million. The filing also disclosed a Notice of Reassessment from the Canada Revenue Agency regarding 2018 tax deductions, with a potential maximum liability of approximately $155 million if contested unsuccessfully. Precision Drilling Corporation operates in the oilfield services industry, providing land drilling and completion services.