Recent Updates — PDS

Precision Drilling reported third-quarter revenue of $532 million, a 15% increase from the prior year period, driven by higher drilling activity in Canada and the U.S. Adjusted EBITDA rose 6% to $125 million, while net earnings attributable to shareholders turned positive at $21 million compared to a loss of $7 million in the same quarter last year. The company repurchased $31 million of common shares during the quarter and revised its full-year capital budget upward to between $275 million and $285 million. Precision Drilling provides contract drilling, well servicing, and completion services primarily to oil and natural gas exploration companies.

Precision Drilling reported third-quarter revenue of $532 million, a 15% increase from the prior year period, driven by higher drilling activity in Canada and the U.S. Adjusted EBITDA rose 6% to $125 million, while net earnings attributable to shareholders turned positive at $21 million compared to a loss in the previous year. The company repurchased $31 million of shares during the quarter and raised its full-year capital expenditure guidance to between $275 million and $285 million. Precision Drilling provides land contract drilling, well servicing, and completion services for oil and gas producers.

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.

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, or $0.09 per share, compared to net earnings of $16 million in the same period last year, primarily driven by an $11 million increase in depreciation expense from revised useful life estimates for drill pipe. Cash provided by operations was $146 million, enabling a $50 million reduction in long-term debt and the repurchase of 99,416 common shares for $12 million. The firm also received a Notice of Reassessment from the Canada Revenue Agency regarding its 2018 tax year, which it intends to contest vigorously with an estimated maximum liability of $155 million if unsuccessful. Precision Drilling Corporation operates in the oil and gas services industry, providing land drilling and well servicing solutions.