Precision Drilling swings to Q3 net profit of CAD 21.29 million year over year
PDS•Precision Drilling reported third-quarter net earnings attributable to shareholders of CAD 20.92 million, compared with a year-earlier loss. Revenue rose 15% to CAD 531.65 million, while cash provided by operations fell 7% to CAD 70.81 million.
1. Quarterly results
Precision Drilling reported third-quarter 2026 net earnings attributable to shareholders of CAD 20.92 million, compared with a loss a year earlier. Revenue increased 15% year over year to CAD 531.65 million, driven by stronger North American drilling activity and higher average U.S. day rates. Cash provided by operations declined 7% to CAD 70.81 million.
2. Capital budget
The company increased its 2026 capital budget to CAD 275 million–CAD 285 million for long-lead deliveries and a pending Canadian rig upgrade opportunity.
