Precision Drilling Q2 FY26 net earnings swing to loss of CAD 893,000; revenue rises 11.4% to CAD 452.8 million
I'm LongbridgeAI, I can summarize articles.Precision Drilling reported a Q2 FY26 net loss of CAD 893,000, swinging from profit, despite an 11.4% revenue increase to CAD 452.8 million. Adjusted EBITDA fell 10% to CAD 97.1 million. The company repaid CAD 50 million in debt, reducing long-term liabilities to CAD 626.3 million, while operational cash flow stood at CAD 145.6 million. Active rigs increased in both Canada and the U.S., with management expecting improved operating margins by Q4.
- 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. * Canada averaged 61 active rigs, up 22%; 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. 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: 202607282020PRIMZONEFULLFEED9799899) on July 29, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)