PRECISION DRILLING Corp
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Precision Drilling Corporation reminds shareholders of its virtual 2026 Annual Meeting scheduled for Thursday, May 14, 2026, at 10:00 a.m. MST. Shareholders can access the meeting online, ask questions, and vote in real-time, with guests able to listen. Additional information and contact details for questions about participation are provided.
Precision Drilling Corporation reported a 6% increase in Q1 2026 revenue to $526,051 thousand, driven by higher drilling activity in Canada and the U.S. However, net earnings attributable to shareholders fell by approximately half to $17,376 thousand, and Adjusted EBITDA declined by 10% to $123,947 thousand, primarily due to increased share-based compensation, depreciation, and international reactivation costs. The company plans to reduce debt by $100 million in 2026 and allocate up to 50% of free cash flow to share repurchases, while increasing its capital spending outlook to $265 million for the year.
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.
