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Precision Drilling ( (TSE:PD) ) has shared an announcement.
On April 29, 2026, Precision Drilling reported first-quarter 2026 results showing revenue of $526 million, up 6% year over year, driven by higher activity in Canada and the U.S. despite weaker international results. Net earnings attributable to shareholders fell to $17 million from $35 million in 2025, as higher share-based compensation tied to a 39% share price gain and increased depreciation offset operating improvements.
The company averaged 79 active rigs in Canada and 37 in the U.S., outperforming broader industry activity that declined in both markets, while maintaining seven contracted rigs internationally. Management increased the 2026 capital budget to $265 million from $245 million to fund additional Canadian Super Triple upgrades and support anticipated growth, underscoring confidence in demand but signaling higher near-term spending and a continued focus on technology-led efficiency and shareholder returns amid geopolitical and commodity volatility.
The most recent analyst rating on (TSE:PD) stock is a Buy with a C$150.00 price target. To see the full list of analyst forecasts on Precision Drilling stock, see the TSE:PD Stock Forecast page.
Spark’s Take on PD Stock
According to Spark, TipRanks’ AI Analyst, PD is a Neutral.
The score is driven primarily by improving financial health (better leverage and generally solid cash generation) and constructive earnings-call guidance supporting ongoing operating momentum. These positives are tempered by highly stretched valuation (very high P/E), cyclical/variable profitability (including 2025 near break-even net income), and technical signals that look overextended despite a strong uptrend.
To see Spark’s full report on PD stock, click here.
More about Precision Drilling
Precision Drilling Corporation is a North American contract drilling and well services provider focused on land-based oil and gas operations, with core markets in Canada, the U.S. and the Middle East. The company emphasizes pad-capable Super Triple and Super Single rigs and proprietary Alpha digital technologies to deliver high-performance, data-driven drilling outcomes for customers.
Average Trading Volume: 99,262
Technical Sentiment Signal: Buy
Current Market Cap: C$1.81B
For an in-depth examination of PD stock, go to TipRanks’ Overview page.