Helmerich & Payne Q3 revenue beats analyst estimates, posts profit on gain from asset sale
Helmerich & Payne Q3 revenue beats analyst estimates, posts profit on gain from asset sale
Overview
U.S. drilling rig operator's fiscal Q3 revenue rose, beating analyst expectations
Company posted net income of $76 mln, but adjusted loss per share was $0.11
Quarterly profit included $115 mln gain from Utica Square real estate sale
Outlook
Company expects Q4 North America Solutions direct margin of $245 mln to $255 mln
Helmerich & Payne sees Q4 International Solutions direct margin of $25 mln to $45 mln
Company forecasts FY26 gross capital expenditures of $270 mln to $310 mln
Result Drivers
NORTH AMERICA DEMAND - Co deployed more rigs and grew daily margins in North America Solutions segment due to increased demand from private operators
INTERNATIONAL MOMENTUM - Co secured contracts for five additional rigs in Argentina, supported by activity in Vaca Muerta shale basin
OFFSHORE BONUSES - Offshore segment benefited from performance-related bonuses and contract renewal in Norway
Company press release: ID:nBw9XwLQ7a
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $1.04 bln | $988.74 mln (10 Analysts) |
Q3 Adjusted Loss Per Share |
| $0.11 |
|
Q3 EPS |
| $0.74 |
|
Q3 Net Income |
| $76 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 7 "strong buy" or "buy", 8 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the oil & gas drilling peer group is "buy."
Wall Street's median 12-month price target for Helmerich & Payne, Inc. is $40.50, about 17.4% above its August 4 closing price of $34.49
The stock recently traded at 32 times the next 12-month earnings vs. a P/E of 58 three months ago
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)