EarningsQ2 2026 Earnings Report
DE:PRE1 Q2 2026 EPS Results
Actual EPS-€0.35
Consensus EPS€0.31
Beat/MissMissed by -€0.65
One Year Ago EPS€0.76
DE:PRE1 Q2 2026 Revenue Results
Actual Revenue€283.29M
Expected Revenue€276.11M
Beat/MissBeat by +€7.17M
YoY Revenue Growth+11.36%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
DE:PRE1 Upcoming Earnings
Precision Drilling's next earnings date is estimated for October 27, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:PRE1 Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed clear operational progress and execution against strategic priorities — notable revenue growth (Q2 +11%), record Canadian rig activity, expanded contracts and customers, robotics and remote operations advancements, strong cash from operations and active debt reduction — all of which support a positive trajectory. Offsetting items include a decline in EBITDA versus prior year, a small net loss, U.S. margin pressure from reactivation costs, international rate softness and a material tax reassessment risk from the CRA. Management provided forward guidance for margin recovery into Q4, reaffirmed capital discipline (full‑year CapEx $265M) and balance sheet targets, and highlighted liquidity and buyback plans, suggesting confidence in execution despite near-term headwinds.Company Guidance
Revenue Growth
Second quarter 2026 revenues increased 11% year-over-year, and year-to-date revenue grew 8%, driven by stronger activity in Canada and a rebound in U.S. operations.
Record Canadian Rig Activity
Canada averaged a record 61 active rigs in Q2 (up 11 rigs versus Q2 2025 and one rig above prior guidance). Q3 Canadian rig count expected in the low‑to‑mid 70s (versus 63 in the prior-year period).
Strong Cash from Operations and Capital Discipline
Generated $146 million of cash from operations in Q2 (equal to Q2 2025). Q2 capital expenditures were $76 million ( $46M sustaining/infrastructure, $30M upgrades). Full-year CapEx budget remains $265 million ( $172M sustaining, $93M upgrades).
Debt Reduction and Share Repurchases
At midyear, Precision reduced debt by $75 million and repurchased $16 million of shares; in Q2 specifically reduced debt by $50 million and allocated $12 million to buybacks. Company plans to reduce debt by $100 million for 2026 and may allocate up to 50% of free cash flow to repurchases.
Liquidity and Balance Sheet Metrics
Reported over $502 million in total liquidity and an average cost of debt of 6.7%. Management reaffirmed long-term target of net debt-to-adjusted EBITDA <1x.
Technology & Operational Advancements
Alpha robotics rig delivered multi-quarter outperformance: 54 wells drilled, >3 million feet of tubulars handled hands-free, and 17,000 man-free hours on the rig floor. New Canadian Alpha Remote Operations Center to open, complementing Houston center.
Contract Book Expansion and Customer Growth
Contract book expanded with Q4 contracts increasing by 12 rigs in Canada and 9 rigs in the U.S. Customer count grew from 25 to 30 year-to-date, indicating deeper customer relationships.
C&P Segment Strength
C&P (well servicing & surface rental) adjusted EBITDA increased by $14.4 million versus prior year Q2, driven by strong heavy oil well servicing demand in Canada. C&P expected to generate free cash flow and Q3 EBITDA in line with prior year.
DE:PRE1 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed