Precision Drilling Corp ( (PDS) ) has released its Q2 earnings. Here is a breakdown of the information Precision Drilling Corp presented to its investors.
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Precision Drilling Corporation, a leading provider of high-performance drilling services in the energy sector, has released its second-quarter earnings report for 2025, highlighting its strategic focus on enhancing its Super Series rig fleet to meet growing customer demand. The company, headquartered in Calgary, Alberta, operates in the oil and gas industry and is known for its advanced digital technology and environmental solutions.
In the second quarter of 2025, Precision Drilling reported a revenue of $407 million, which is a slight decrease from the previous year due to reduced activity in the U.S. and international markets. Despite this, the company maintained a positive net earnings streak for the 12th consecutive quarter, with net earnings attributable to shareholders at $16 million or $1.21 per share. The company also repaid $74 million of debt and repurchased $14 million of shares, demonstrating its commitment to shareholder returns.
Key financial metrics showed a decline in Adjusted EBITDA to $108 million from $115 million in the previous year, primarily due to lower activity levels. The company increased its capital budget to $240 million to upgrade 22 Super Series rigs, aiming to secure additional customer commitments and drive revenue growth. Operational highlights included an increase in Canadian drilling rig utilization and a strategic focus on U.S. natural gas plays, despite a general decline in industry activity.
Looking ahead, Precision Drilling remains optimistic about the long-term fundamentals of the energy sector, driven by economic growth and increasing demand from emerging markets. The company plans to continue its focus on debt reduction, share repurchases, and strategic investments in its rig fleet to enhance shareholder value and meet evolving customer needs.