Helmerich & Payne(US:HP) ZACKSยท2024-07-24 22:46Core 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].