Precision Drilling Corp ( (PDS) ) has released its Q3 earnings. Here is a breakdown of the information Precision Drilling Corp presented to its investors.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Precision Drilling Corp, a leading provider of land drilling services, has released its third-quarter financial results for 2025, showcasing its resilience in a challenging market environment. The company operates primarily in the oil and gas sector, focusing on high-performance drilling services across North America and internationally.
In the third quarter of 2025, Precision Drilling reported revenues of $462 million, a slight decline from the previous year, yet outperforming the broader industry trends. The company faced a net loss of $7 million, attributed to higher deferred income tax expenses in the U.S., but managed to generate $76 million in cash from operations, allowing for debt reduction and share repurchases.
Key financial metrics highlighted a 3% decrease in revenue compared to the same period in 2024, with Adjusted EBITDA dropping to $118 million. Despite these challenges, Precision Drilling maintained strong operational performance, particularly in the U.S. where rig utilization days increased by 24% over the past two quarters, defying industry declines. The company also expanded its capital budget to $260 million to support customer-funded rig upgrades.
Operationally, Precision Drilling saw a decrease in Canadian rig utilization, yet achieved higher revenue per utilization day due to a favorable rig mix. In the U.S., the company increased its active rig count and maintained stable revenue per utilization day despite market pressures. International operations remained steady, contributing to the company’s free cash flow.
Looking ahead, Precision Drilling remains optimistic about its future prospects, focusing on strategic investments and shareholder returns. The company anticipates stable activity levels in the fourth quarter, with potential for growth driven by strong demand for its Super Series rigs and favorable market conditions in natural gas basins.