Precision Drilling Corporation Reports 2026 Third Quarter Financial Results

Precision Drilling reported third-quarter 2026 revenue of $532 million, up 15% from $462 million a year earlier, while adjusted EBITDA increased 6% to $125 million. Stronger North American drilling activity and higher average U.S. day rates offset weaker international results and higher U.S. rig reactivation costs. The company repurchased $31 million of shares, ended the quarter with $23 million in cash and more than $460 million in available liquidity, and raised its 2026 capital budget to $275 million–$285 million for long-lead deliveries and a potential rig upgrade for a large Canadian producer. Management expects U.S. margins to improve in the fourth quarter.