Precision Drilling Corporation (PDS) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, and thank you for standing by. Welcome to the Precision Drilling Corporation 2026 First Quarter Results Conference call-in webcast. At this time, all participants are in listen-only mode. After the speaker's presentation, there'll be a question and answer session, where we will take questions from research analysts. To ask a question during the session, you'll need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised, today's conference is being recorded. I would now like to hand the conference over to your speaker today. LaVon Judonic, Vice President, Investor Relations. Please go ahead. Welcome, and thank you everyone for joining Precision Drilling's first quarter conference column webcast. Today, I'm joined by Kerry Ford, our President and CEO, and Dustin Honing, our CFO. Please note that some comments today will refer to non-IFRS financial measures and include forward-looking statements, which are subject to a number of risks and uncertainties. For more information on financial measures, forward-looking statements and risk factors, please refer to our news release, MD&A and financial statements, which are now available on CDAR and EDGAR. Before I pass the call over, I would like to highlight a couple points from our news release. First, utilization improved meaningful in the quarter compared to Q1 of 2025. It increased 7% in Canada and 24% in the U.S. even as industry rate counts declined 7% in both markets. This performance underscores the value customers continue to see in our high-performance, high-value strategy. Second, we delivered strong progress on our 2026 priorities, growing revenue year over year, generating $63 mill...