Precision Drilling reported second-quarter GAAP earnings per share of negative $0.52, missing estimates by $0.51. Revenue came in at $452.8 million, an 11.4% increase year-over-year, beating expectations by $141.09 million. Adjusted EBITDA was $97 million, down 10% from $108 million in the same quarter of 2025. Cash provided by operations reached $146 million, enabling the company to reduce debt by $50 million and repurchase $12 million of common shares. Capital expenditures rose to $76 million from $53 million a year earlier, and the company stated it is well positioned to meet its long-term debt reduction target of $700 million between 2022 and 2027, having already reduced debt by $610 million since the beginning of 2022.
Precision Drilling CorporationMixed earnings: GAAP EPS miss but revenue beat, debt reduction and share buyback, but EBITDA down and capex up.