Why did Precision Drilling (NYSE:PDS) report higher revenue for the second quarter?

Precision Drilling (NYSE:PDS) reported an 11% revenue increase to $453 million due to stronger drilling and well service activity across Canada and the United States. The company stated this North American growth successfully offset weaker international results and lower Canadian upfront capital payments.

What caused the decline in adjusted EBITDA for Precision Drilling (NYSE:PDS)?

Precision Drilling (NYSE:PDS) experienced a 10% drop in adjusted EBITDA to $97 million primarily because of higher rig reactivation costs in the U.S. market. The company also noted lower international margins stemming from geopolitical tensions and a changed rig mix.

Why did Precision Drilling (NYSE:PDS) record a net loss this quarter?

Precision Drilling (NYSE:PDS) reported a net loss of $1 million due to an $11 million increase in depreciation expenses from revised useful life estimates. This compares to the $16 million in net earnings reported during the same period last year.

How is Precision Drilling (NYSE:PDS) allocating its operational cash flow?

Precision Drilling (NYSE:PDS) utilized its $146 million in operating cash to fund a $50 million debt reduction and $12 million in share repurchases. The company also increased its total capital spending to $76 million for the quarter.

What are the international growth expectations for Precision Drilling (NYSE:PDS)?

Precision Drilling (NYSE:PDS) stated that a new five-year contract in Kuwait is expected to expand its international presence. The company expects this agreement to raise its active international rig count to eight by mid-2027.

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Precision Drilling posts $453 million second-quarter revenue

Written by Brie CarterPublished Jul 29, 2026, 8:38 AM

Precision Drilling reported a second-quarter revenue increase of 11% to $453 million.
The company posted a net loss of $1 million and reduced its total debt by $50 million.
The company stated a new Kuwait contract is expected to increase its active international rig count.

Precision Drilling (NYSE:PDS) reported a second-quarter revenue of $453 million, representing an 11% year-over-year increase.

The result was driven by stronger North American drilling activity, which offset weaker international operating margins.

Adjusted EBITDA declined 10% to $97 million due to higher rig reactivation costs in the United States.

The company also recorded a net loss of $1 million following an $11 million increase in depreciation costs.

Following the announcement, Precision Drilling's share price was down at $78.27.

Operations generated $146 million in cash, which the business used to reduce overall debt by $50 million.

The company stated a new five-year Kuwait contract is expected to raise international rigs to eight by mid-2027.

Precision Drilling posts $453 million second-quarter revenue

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Precision Drilling posts $453 million second-quarter revenue

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