Helmerich & Payne (HP) came out with quarterly earnings of $0.76 per share, missing the Zacks Consensus Estimate of $0.79 per share. This compares to earnings of $0.69 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3.80%. A quarter ago, it was expected that this oil and gas well-drilling contractor would post earnings of $0.77 per share when it actually produced earnings of $0.92, delivering a surprise of 19.48%.Over the las ...

Helmerich & Payne (HP) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on November 13, 2024, might help the stock move higher if these key numbers are bett ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Helmerich & Payne (HP) , which belongs to the Zacks Oil and Gas - Drilling industry, could be a great candidate to consider. This oil and gas well-drilling contractor has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 10.33%. For the most recent q ...

Shares of oil and gas drilling contractor Helmerich & Payne (HP) have lost around 16% of their value in the past year, contrasting with the sector's increase of 2.2%. The S&P 500 Index has risen 32.5% over the same timeframe. HP One-Year Stock Performance Image Source: Zacks Investment Research Let's now take a close look at Helmerich & Payne, with an eye on where it stands after falling so much, along with what we can expect going forward. What's Dragging Down HP Stock? Investors seem to be worried about t ...

Shares of oil and gas drilling contractor Helmerich & Payne (HP) slipped to a 52-week low of $31.98 per share on Aug. 30, before closing a tad higher at $32.60. Year to date, Helmerich & Payne has lost almost 10% of its value, contrasting with the sector's increase of 4.9%. Meanwhile, the S&P 500 Index has risen 18.4% over the same timeframe. The company has also fared worse than its peers like Nabors Industries (NBR) and Diamond Offshore Drilling (DO) . YTD Price Comparison Image Source: Zacks Investment R ...

The conflict in the Middle East is only getting worse. After an attack on Israel last week and a subsequent attack on Lebanese leaders, both in Lebanon and Iran, tensions have definitely risen. Antony Blinken, the Secretary of State, has indicated that Iran is likely to strike back within the next 24-48 hours. While the world is on edge, instability in the region will also have a significant impact on oil. As I'm sure many of you know, the Middle East is a hub for fossil fuel extraction, with black gold bei ...

Helmerich & Payne, Inc. (HP) , a leading provider of drilling solutions, recently announced that it has entered into an agreement to acquire KCA Deutag International Limited ("KCA Deutag") for $1.9725 billion in cash. KCA Deutag is a global drilling company with a strong presence in the Middle East, South America, Europe and Africa. The company also operates offshore management contracts in the North Sea, Angola, Azerbaijan and Canada. The acquisition is expected to significantly increase HP's presence in t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q HELMERICH & PAYNE, INC. (Exact name of registrant as specified in its charter) Delaware 73-0679879 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or f ...

Core Insights - Helmerich & Payne, Inc. reported a fiscal third-quarter 2024 adjusted net income of 92 cents per share, exceeding the Zacks Consensus Estimate of 77 cents, but down from $1.09 in the same quarter last year, primarily due to underperformance in International Solutions and North America Solutions segments [1] Financial Performance - Operating revenues reached $697.7 million, surpassing the Zacks Consensus Estimate of $669 million, with Drilling Services contributing $695 million, which also exceeded the consensus mark of $664 million, although this figure represents a 3.6% decline from the previous year [2] - North America Solutions generated operating revenues of $620 million, down 3.1% year over year, with an operating profit of $163.4 million, slightly below the prior year's $169.5 million but above the estimate of $122 million [5] - International Solutions reported operating revenues of $47.9 million, a decrease of 1.6% from the previous year, with an operating loss of $4.8 million, significantly worse than the prior year's loss and missing the profit estimate [6] - Offshore Gulf of Mexico revenues were $27.2 million, down 12.8% year over year, but operating profit increased to $5 million, beating both the prior year's figure and estimates [7] Shareholder Returns - The company declared a quarterly cash dividend of 25 cents per share and a supplemental cash dividend of 17 cents per share, returning an additional $42 million to shareholders through dividends in the third quarter [3][4] Financial Position - As of June 30, 2024, the company had $203.6 million in cash and cash equivalents and long-term debt of $545.6 million, resulting in a debt-to-capitalization ratio of 16% [8] Guidance - For the fourth quarter of fiscal 2024, Helmerich & Payne expects operating gross margin between $260-$280 million, with North America Solutions and Offshore Gulf of Mexico projected to contribute $6-$8 million each [9] - International Solutions is expected to have direct margins between $(2) million and $2 million, with additional rig preparation expenses related to Saudi Arabia operations impacting the guidance [10] - The company anticipates a capital outlay of $500 million for fiscal year 2024, with ongoing asset sales projected to offset some expenditures [11]

Core Viewpoint - Helmerich & Payne's recent earnings report indicates a mixed performance, with a notable earnings surprise but a decline in year-over-year earnings per share, raising questions about future stock performance and earnings estimates [2][4][8]. Company Performance - Helmerich & Payne reported quarterly earnings of $0.92 per share, exceeding the Zacks Consensus Estimate of $0.77 per share, but down from $1.09 per share a year ago, reflecting a year-over-year decline [2]. - The company achieved revenues of $697.72 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 4.37%, although this is a decrease from $723.96 million in the same quarter last year [6]. - The current consensus EPS estimate for the upcoming quarter is $0.75, with projected revenues of $662.36 million, and for the current fiscal year, the EPS estimate is $3.44 on revenues of $2.7 billion [4]. Earnings Expectations - The upcoming earnings report is expected to show quarterly earnings of $0.61 per share, representing a year-over-year increase of 60.5%, with the consensus EPS estimate remaining unchanged over the last 30 days [5]. - The estimate revisions trend for Helmerich & Payne is currently unfavorable, leading to a Zacks Rank 4 (Sell), indicating expectations of underperformance in the near future [8]. Industry Context - Helmerich & Payne operates within the Zacks Oil and Gas - Drilling industry, which is currently ranked in the bottom 22% of over 250 Zacks industries, suggesting potential challenges ahead [13]. - Another company in the same industry, Noble Corporation PLC, is expected to report revenues of $640 million for the quarter ended June 2024, reflecting a slight increase of 0.2% from the previous year [14].