Precision Drilling reports strong Q3 2024 earnings and reduces debt by CAD 49 million

Precision Drilling Corporation reported strong financial results for the third quarter of 2024, showing year-over-year growth in revenue, adjusted earnings, and net income. The company highlighted its effective business model and focus on cash flow as key factors in this performance. During the quarter, Precision reduced its debt by CAD 49 million, contributing to a total reduction of CAD 152 million for the year. This improvement reflects the company's ongoing efforts to strengthen its financial position. The conference call included insights from company leaders on operational updates and future outlook, emphasizing the positive trajectory of the business.