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Precision Drilling Announces 2026 First Quarter Unaudited Financial Statements
Precision Drilling Corporation announced its 2026 first-quarter results, showing a 6% increase in revenue to $526 million due to higher utilization in Canadian and U.S. drilling operations. Despite a decrease in Adjusted EBITDA and net earnings attributed to higher share-based compensation and depreciation, the company reduced debt by $25 million and repurchased $4 million in common shares. Precision also revised its 2026 capital budget to $265 million, driven by rig upgrades and increased activity expectations in North America.