Precision Drilling Q2 FY26 net earnings swing to loss of CAD 893,000; revenue rises 11.4% to CAD 452.8 million - PDS News | RalliesPrecision Drilling Q2 FY26 net earnings swing to loss of CAD 893,000; revenue rises 11.4% to CAD 452.8 million
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PDS• Quarterly results
- Precision Drilling posted Q2 2026 revenue of CAD 453 million, up 11% year over year.
- Net loss attributable to shareholders was CAD 1.2 million, swinging from profit; adjusted EBITDA (non-IFRS) fell 10% to CAD 97.1 million.
- Cash provided by operations was CAD 145.6 million; long-term debt declined to CAD 626.3 million as CAD 50 million was repaid.
Rig activity and pricing
- Canada averaged 61 active rigs, up 22%; the U.S. averaged 35, up from 33, with revenue per utilization day rising to USD 32,802.
- Management said U.S. active rigs stand at 43 and expects Q4 operating margins to approach USD 10,000 per utilization day.
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