Helmerich & Payne jumps after beating Q1 profit estimates

Helmerich & Payne

30/01/2024 18:05

(Updates)
    ** Shares of oilfield services provider Helmerich & Payne
 HP.N  soar ~14% to more than a two-month high of $41.53
    ** Co reports Q1 adj. profit of 97 cents/share, beating
analysts' estimate of 72 cents/share - LSEG data
    ** Posts Q1 revenue of $677.10 mln vs. estimates of $661.30
mln
    ** The North America Solutions segment exited Q1 with 151
active rigs; expects to exit Q2 with 154-159 active rigs
        ** Co. reaffirms capital expenditure forecast of $450
mln to $500 mln in FY24
  
    ** HP stock fell 25% in 2023

 (Reporting by Vallari Srivastava)
 ((Srivastava.Vallari@thomsonreuters.com;))