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PDS

Precision Drilling Corporation

PDS

Precision Drilling Corporation • NYSE
$61.90 ▲ 2.93% (+1.76)
Market Cap $839.83 M
52w High $67.35
52w Low $36.20
Dividend Yield 0%
P/E 20.84
Volume 54.12K
Outstanding Shares 13.57M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $462.25M ▲ $30.791M ▼ $-6.761M ▼ -1.463% ▼ $-0.5 ▼ $120.463M ▲
Q2-2025 $406.615M ▼ $298.515M ▼ $16.267M ▼ 4.001% ▼ $1.21 ▼ $114.468M ▼
Q1-2025 $496.331M ▲ $358.834M ▲ $34.511M ▲ 6.953% ▲ $2.52 ▲ $139.829M ▲
Q4-2024 $468.171M ▼ $347.645M ▲ $14.795M ▼ 3.16% ▼ $1.06 ▼ $117.649M ▼
Q3-2024 $477.155M $334.73M $39.183M 8.212% $2.77 $145.049M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $38.311M ▼ $2.801B ▲ $1.134B ▲ $1.663B ▲
Q2-2025 $46.698M ▲ $2.743B ▼ $1.078B ▼ $1.661B ▼
Q1-2025 $28.245M ▼ $2.916B ▼ $1.215B ▼ $1.696B ▲
Q4-2024 $73.771M ▲ $2.956B ▲ $1.274B ▲ $1.677B ▲
Q3-2024 $24.304M $2.888B $1.227B $1.657B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-6.472M ▼ $75.869M ▼ $-61.194M ▼ $-23.671M ▲ $-8.387M ▼ $6.543M ▼
Q2-2025 $16.487M ▼ $147.495M ▲ $-36.049M ▲ $-92.266M ▼ $18.453M ▲ $94.722M ▲
Q1-2025 $34.947M ▲ $63.419M ▼ $-57.202M ▲ $-51.463M ▲ $-45.526M ▼ $3.454M ▼
Q4-2024 $14.795M ▼ $162.791M ▲ $-61.954M ▼ $-53.07M ▲ $49.467M ▲ $103.891M ▲
Q3-2024 $39.183M $79.674M $-38.852M $-64.348M $-23.929M $15.826M

Five-Year Company Overview

Income Statement

Income Statement Precision Drilling’s income statement shows a clear turnaround over the last few years. Revenue has recovered from earlier downturn levels and has recently stabilized rather than continuing to surge. The more important story is margin improvement: the company has shifted from small or negative profits to solid, recurring profitability, suggesting better pricing, higher utilization of its rigs, and tighter cost control. Earnings, however, remain volatile, which is normal for a drilling contractor tied to swings in oil and gas activity. Profit jumped strongly as the cycle improved and then eased back more recently, indicating that results are still very sensitive to customer spending and day rates. Overall, the business has moved from survival mode to a healthier, more profitable footing, but with the usual cyclicality that comes with this industry.

Balance Sheet

Balance Sheet The balance sheet reflects a capital‑intensive business that has been steadily de‑risking. Total assets have stayed broadly stable, indicating no aggressive expansion but also no major shrinkage of the fleet. Debt has been brought down over time, which lowers financial risk and interest burden. Equity has been rebuilt, pointing to retained profits and a stronger capital base. Cash on hand is relatively modest, typical for a drilling contractor that relies more on committed credit lines and operating cash flow than on large cash reserves. In simple terms, the company looks more financially balanced than a few years ago, with a still‑meaningful but more manageable level of leverage backed by a sizeable asset base.

Cash Flow

Cash Flow Cash flow is a relative strength. The business has consistently generated positive cash from operations, and free cash flow has been positive in each of the last several years. That means the company has generally been able to fund its capital spending and still have cash left after maintaining and upgrading its rigs. Capital spending has increased as activity recovered, reflecting investment in the fleet and technology rather than bare‑bones maintenance. The key point is that these investments have been made from a position of internally generated cash, not heavy new borrowing, which supports the company’s ability to keep reducing debt and stay flexible through future industry cycles.

Competitive Edge

Competitive Edge Precision Drilling competes in a tough, commoditized industry but has carved out a differentiated position. Its modern “Super Series” rigs, combined with integrated digital and environmental solutions, allow it to offer more efficient and often faster drilling than many smaller or less‑modern competitors. This can translate into better performance for customers and support for premium pricing when markets are tight. The company’s vertical integration—from engineering and manufacturing to maintenance—gives it control over quality, customization, and cost. Its focus on safety and operational discipline is also important in an industry where reliability is critical. On the other hand, it still faces strong, well‑capitalized peers and remains exposed to intense price competition when drilling demand slows. Its competitive strength is most visible when customers value performance, technology, and emissions reduction rather than just the lowest day rate.

Innovation and R&D

Innovation and R&D Innovation is a central part of Precision’s strategy. The Alpha suite focuses on automation, data analytics, and specialized software that optimize drilling in real time, aiming to cut drilling time, improve consistency, and reduce human error. The EverGreen suite targets lower emissions and better energy efficiency on the rig, aligning with customers’ growing environmental and regulatory pressures. These platforms are tightly integrated with the company’s modern rigs, creating a technology ecosystem that is harder for smaller or less integrated rivals to match. New tools like robotic systems on the rig floor and expanded environmental solutions show that Precision is not standing still. The main uncertainties are how quickly customers adopt these technologies, how much extra value they are willing to pay for, and how competitors’ own digital and low‑carbon offerings evolve over time.

Summary

Precision Drilling today looks like a more disciplined, technology‑driven version of the company that went through the last downturn. Financially, it has moved from losses to consistent profits, reduced its debt load, and generated steady free cash flow, all while reinvesting in its fleet and digital platforms. That combination suggests a healthier, more resilient business than in the past. Strategically, its edge lies in modern rigs, automation, data analytics, and environmental solutions, supported by a vertically integrated operating model. These strengths position it well when drilling activity is robust and customers prioritize performance and emissions reduction. At the same time, results remain closely tied to oil and gas spending cycles and competitive pricing pressure. The key factors to watch going forward are the sustainability of its improved margins, continued debt reduction, the level and payback of ongoing capital and technology investments, and the uptake of its Alpha and EverGreen offerings across both existing and new markets.

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