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)

© 2026 The Canadian Press, source Canadian Press DataFile