Precision Drilling Announces 2026 Second Quarter Unaudited Financial Statements
Precision Drilling reported Q2 2026 revenue of $453 million, an 11% increase year-over-year, driven by robust heavy oil drilling activity in Canada and improving rig utilization in the U.S. Average active rigs in Canada rose 22% to 61, while U.S. rigs increased to 35, outperforming industry activity levels in both regions. Despite a 10% decline in Adjusted EBITDA to $97 million and a net loss of $1 million due to increased depreciation expenses, the company generated strong operating cash flow of $146 million.
Key figures
- Revenue
- 453000000
- Revenue Yoy
- 11%
- Debt reduction
- 50000000
- Adjusted ebitda
- 97000000
- Share repurchase
- 12000000
- Capital expenditures
- 76000000
- Cash from operations
- 146000000
- Tax contingency estimate
- 155000000
AI analysis
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