PRECISION DRILLING Corp (PDS) Form 6-K — Oct 27, 2026
Precision Drilling's Q3 2026 revenue rose 15% to $532 million, with Adjusted EBITDA up 6% to $125 million, driven by 16% higher rig utilization in Canada and 19% in the U.S. The company swung to net earnings of $21 million ($1.65 per share) from a $7 million loss a year ago, repurchased $31 million of stock, and revised its 2026 capital budget up to $275-$285 million to fund a pending multi-year rig upgrade for a large Canadian producer. Management guided U.S. operating margins to a step change in Q4 (US$9,500-$10,500/day) as rig reactivations slow, and reaffirmed a $100 million debt reduction target.
Key figures
- Eps
- 1.65
- Revenue
- 531652000
- Guidance
- 2026 capital budget revised from $265 million to $275-$285 million; Q4 Canadian operating margins expected between C$13,500-$14,500 per utilization day and U.S. margins US$9,500-$10,500 per utilization day; on track for $100 million 2026 debt repayment target.
- Net Income
- 20917000
- Total Debt
- 629116000
- Revenue Yoy
- 15.0%
- Total Assets
- 2765893000
- Cash Position
- 23177000
- Shares Outstanding
- 12538736
- Q3 capex
- 82482000
- Ytd buybacks
- 47000000
- Us active rigs
- 43
- Share buybacks q3
- 31000000
- Canada active rigs
- 73
- Adjusted ebitda yoy
- 6.4%
- Available liquidity
- 460000000
- Cra max tax liability
- 155000000
- Shares repurchased q3
- 269331
- Us revenue per day usd
- 33270
- Adjusted ebitda q3 2025
- 117632000
- Adjusted ebitda q3 2026
- 125116000
- Cash from operations q3
- 70813000
- International active rigs
- 7
- Blended cash interest cost
- 6.7%
- Canada revenue per day cad
- 33654
- Long term debt to debt plus equity
- 0.28
AI analysis
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