Precision Drilling Reports Q3 2026 Revenue Growth Driven by North American Activity
Precision Drilling Corporation (PDS) reported a strong third quarter for 2026, with revenue rising 15% to $532 million compared to the previous year. This growth was primarily fueled by increased drilling activity in North America and higher U.S. day rates. The company successfully transitioned from a net loss in the prior year period to a net earnings of $21 million. Operational expansion was evident as active rig counts rose in both the U.S. and Canada. While reactivation costs for new rigs impacted U.S. operating margins, management provided optimistic guidance for Q4 margins as these one-time expenses subside. However, the company faces potential headwinds including geopolitical tensions affecting international margins and a formal objection to a significant tax reassessment by the Canada Revenue Agency.
Tickers: $PDS
Topics: Day Rates EBITDA Net Earnings Revenue Growth Rig Count