Precision Drilling shares drop after first-quarter earnings miss
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CALGARY – Shares in Precision Drilling Corp. are trading lower after the oil and gas services firm reported lower first-quarter profits that missed analyst expectations.
The stock was 7.5 per cent lower in late-morning trading at $129.52 on the TSX.
The Calgary-based company says its net earnings attributable to shareholders for the period were $17.4 million versus $34.5 million a year earlier.
The profit amounted to $1.34 per share, lower than the $2.71 per share analysts had on average been expecting, according to LSEG Data & Analytics, and the $2.20 per share it earned in the first quarter of 2025.
Precision attributed the decrease to higher share-based compensation expense and increased depreciation expense from the change in useful life estimates.
Revenues increased to $526 million from $496 million a year earlier as higher activity in the U.S. and Canada offset a drop internationally.
This report by The Canadian Press was first published April 30, 2026.
Companies in this story: (TSX:PD)