# Precision Drilling Q3 2026 Earnings Report

> Precision Drilling reports 15% revenue growth with improved U.S. margins and debt reduction targets.
- Title: Precision Drilling Q3 2026 Earnings Report · The Motley Fool
- Summary: Precision Drilling reports 15% revenue growth with improved U.S. margins and debt reduction targets. Precision Drilling achieved $532 million Q3 2026…
- Keywords: precision drilling, pds, q3 2026, revenue, net earnings, debt reduction, us active rigs, canadian active rigs, international active rigs, us revenue per day, canadian revenue per day, international revenue per day
- Source: The Motley Fool — https://fool.com/earnings/call-transcripts/2026/10/28/precision-drilling-pds-q3-2026-earnings-call-transcript
- Author: Motley Fool Transcribing
- Published: 2026-10-28T21:39:59+00:00
- Read time: 2 min
- Topics: precision drilling, pds, q3 2026, revenue, net earnings, debt reduction, us active rigs, canadian active rigs, international active rigs, us revenue per day, canadian revenue per day, international revenue per day
## Q3 2026 Revenue
Precision Drilling reported $532 million Q3 2026 revenue, a 15% increase compared with $462 million from the prior year.
## Adjusted EBITDA Growth
Adjusted EBITDA reached $125 million, a 6.4% increase from $118 million in the prior year period.
## Net Earnings Improvement
Net earnings rose to $21 million, compared with a net loss of $7 million in the prior year period.
## Cash from Operations
Cash from operations totaled $71 million, down from $76 million in the prior year due to non-cash working capital builds.
## Capital Expenditures
Capital expenditures amounted to $82 million, with $58 million for maintenance and infrastructure and $24 million for fleet upgrades.
## U.S. Active Rigs
U.S. active rigs increased to 43, up seven rigs from the prior year following six reactivations.
## Canadian Active Rigs
Canadian active rigs rose to 73, a 16% increase from 63 active rigs in the same period last year.
## International Active Rigs
International active rigs remained at seven, consistent with the prior year and operating under five-year term contracts.
## U.S. Revenue Per Day
U.S. revenue per day increased to $33,270 from $31,040 driven by higher average day rates and technology revenue.
## Canadian Revenue Per Day
Canadian revenue per day decreased to $33,654 from $34,193 due to a higher proportion of Super Single rigs.
## International Revenue Per Day
International revenue per day dropped to $46,304, a 14% decrease from $53,811 due to changes in rig mix and planned recertifications.
## U.S. Daily Operating Margin
U.S. daily operating margin decreased to $7,653 from $8,700 as results were impacted by reactivation costs.
## Canadian Daily Operating Margin
Canadian daily operating margin remained at $12,817, compared with $13,007 in the prior year period.
## U.S. Rig Reactivation Costs
U.S. rig reactivation costs averaged $2,125 per utilization day for six rigs in the Lower 48.
## Completion and Production Revenue
Completion and production revenue reached $81 million, an 8.3% increase driven by stronger demand for well services.
## Service Rig Operating Hours
Service rig operating hours increased to 67,071 hours, a 6% increase due to customers maximizing cash flows in heavy oil regions.
## Debt Reduction
The company reduced debt by $75 million during the first nine months of 2026.
## Share Repurchases
Share repurchases totaled $31 million for 269,331 shares at an average price near $115.
## 2026 Capital Expenditure Guidance
2026 capital expenditure guidance increased to $275 million to $285 million from the previous $265 million budget.
## Q4 U.S. Margin Guidance
Q4 U.S. margin guidance is $9,500 to $10,500, representing a sequential increase as reactivation activity slows.
## Key takeaway

Precision Drilling achieved $532 million Q3 2026 revenue, a 15% increase from prior year, with $21 million net earnings and $75 million debt reduction.