Precision Drilling FY26 Q1 net earnings drop 49% to C$17.85 million

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Precision Drilling posted Q1 2026 net earnings attributable to shareholders of CAD 17.38 million, down 49.7%.
Revenue rose 6% to CAD 526.05 million.
Adjusted EBITDA slipped 9.9% to CAD 123.95 million, including CAD 18.87 million of share-based compensation expense.
Cash provided by operations was CAD 63.15 million, funding CAD 4 million of share repurchases and CAD 25 million of debt reduction.
Management cited higher utilization in Canada and the U.S.; outlook calls for Q2 Canada activity well above last year, U.S. active rig count returning to the high 30s in June, and pricing increases expected in the second half.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Precision Drilling Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202604292058PRIMZONEFULLFEED9710143) on April 30, 2026, and is solely responsible for the information contained therein.

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