Precision Drilling Reports Steady Q1 2025 Performance

Precision Drilling Corp ( (PDS) ) has released its Q1 earnings. Here is a breakdown of the information Precision Drilling Corp presented to its investors.

Precision Drilling Corporation, a leading provider of drilling services in the energy sector, is known for its innovative digital technology and environmental solutions, operating primarily in North America and internationally.

In its first quarter of 2025, Precision Drilling reported a revenue of $496 million, a slight decrease from the previous year, attributed to lower U.S. drilling activity despite strong performance in Canada. The company maintained positive net earnings and continued its strategy of debt reduction and share repurchases.

Key financial highlights include an adjusted EBITDA of $137 million, a net earnings of $35 million, and a reduction in capital expenditures to $200 million for the year. The company also repurchased $31 million worth of shares and repaid $17 million of debt, reflecting its commitment to shareholder returns and financial discipline.

Operationally, Canadian drilling activity remained robust, while U.S. activity saw a decline. International operations remained stable with eight active rigs. The company is focused on leveraging opportunities in LNG markets and maintaining cost efficiency amid market uncertainties.

Looking ahead, Precision Drilling remains optimistic about its positioning in the LNG market and anticipates stable demand in Canada and the U.S., despite global economic uncertainties. The company continues to adjust its strategies to align with market conditions and customer demands.