Canada · Delayed Price · Currency is CAD Precision Drilling Earnings Call Transcripts
Fiscal Year 2025
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Delivered strong free cash flow in 2025, reduced net debt to 1.2x EBITDA, and repurchased CAD 76 million in shares. Q4 saw a net loss due to non-cash charges, but adjusted net income rose year-over-year. 2026 guidance includes stable rig activity, capital-light growth, and increased shareholder returns.
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Q3 results showed resilient margins and strong rig upgrade activity, with leadership transition completed. Capital spending increased for 2025, debt reduction targets met, and share buybacks ongoing. Outlook remains positive, driven by technology, customer contracts, and robust demand in key regions.
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Q2 2025 results surpassed expectations with strong EBITDA, earnings, and cash flow, driven by robust Canadian and U.S. drilling and increased customer demand for rig upgrades. The capital plan was raised to $240 million, and debt reduction and share repurchase targets remain on track.
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Q1 results showed strong Canadian drilling and steady U.S. and international operations, with adjusted EBITDA of CAD 137 million and revenue down 6% year-over-year. Capital spending was reduced, debt targets reaffirmed, and U.S. restructuring aims to improve margins amid macro uncertainty.
Fiscal Year 2024
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2024 saw resilient cash flow and profitability, with flat revenue and lower EBITDA year-over-year. Debt reduction and share repurchases continued, while Canadian and international segments outperformed the U.S. Outlook for 2025 is stable, with growth expected in Canadian and gas-focused U.S. activity.
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Q3 saw strong year-over-year growth in revenue, EBITDA, and net earnings, with robust Canadian and international activity offsetting a constrained U.S. market. Debt reduction and share buybacks progressed, while capital spending was increased for rig upgrades and supply security.
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Q2 results surpassed expectations with strong revenue, EBITDA, and cash flow, driven by robust Canadian and international performance, ongoing debt reduction, and increased shareholder returns. Canadian drilling demand is surging due to improved oil prices and export certainty, while U.S. activity is stabilizing.