Precision Drilling Announces 2026 Third Quarter Unaudited Financial Statements
Precision Drilling posted Q3 2026 revenue of $532 million, up 15% year-over-year, with Adjusted EBITDA of $125 million (+6%) and net earnings of $21 million ($1.65 per share) versus a $(0.51) loss a year ago. Rig utilization outpaced the industry — up 16% in Canada and 19% in the U.S. — while U.S. day rates rose to US$33,270 and management guided U.S.
Key figures
- Eps
- 1.65
- Revenue
- 531652000
- Guidance
- 2026 capital budget revised to $275M-$285M (from $265M); Q4 U.S. operating margins US$9,500-US$10,500 per utilization day (~30% increase); Canada Q4 margins $13,500-$14,500 per utilization day
- Revenue Yoy
- 15%
- Capex q3
- 82482000
- Buyback q3
- $31 million (269,331 shares)
- Buyback ytd
- $47 million
- Us active rigs
- 43
- Net earnings q3
- 20917000
- Adjusted ebitda 9m
- 346118000
- Adjusted ebitda q3
- 125116000
- Canada active rigs
- 73
- Debt reduction ytd
- $75 million
- Cra max tax liability
- approximately $155 million excluding interest
- Adjusted ebitda 9m yoy
- -4.7%
- Adjusted ebitda q3 yoy
- 6.4%
- Cash from operations q3
- 70813000
AI analysis
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