Precision Drilling Corporation 2025 Third Quarter Financial Results

Precision Drilling Corporation announced its 2025 third quarter financial results, reporting revenue of $462 million, a 3% decrease from the same period in 2024. Adjusted EBITDA was $118 million, down from $142 million in the previous year, primarily due to lower Canadian drilling activity and higher operating costs. The company recorded a net loss of $7 million, compared to a net earnings of $39 million in the third quarter of 2024. Precision repurchased $9 million of common shares and reduced debt by $10 million, achieving its annual debt reduction target three months early. The company also revised its 2025 capital budget to $260 million from $240 million, driven by customer-funded rig upgrades. Precision's operational highlights include increased revenue per utilization day in Canada and stable international operations. The company remains focused on maximizing free cash flow, enhancing shareholder returns, and growing revenue through contracted upgrades and optimized pricing.