Incorporated in 1940, Helmerich & Payne Inc. (HP - Free Report) is engaged in the contract drilling of oil and gas wells in the U.S. and internationally. The company supplies drilling rigs, equipment, personnel, and camps on a contractual basis to explore for and develop oil and gas from onshore areas and from fixed platforms, tension-leg platforms, and spars in offshore areas. Helmerich & Payne’s contract drilling business consists of three business segments: U.S. land drilling, offshore drilling and international land drilling.
Currently, Helmerich & Payne has a Zacks Rank #3 (Hold) but that could change following its third quarter fiscal 2016 earnings report which has just released. Coming to earnings surprise history, the Tulsa, OK-based major land and offshore drilling contractor has surpassed estimates in two of the last four quarters at an average rate of 44.73%.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Operating loss per share – excluding special items – came in at 47 cents, wider than the Zacks Consensus Estimate of loss of 42 cents.
Revenue: Revenues beat expectations. Revenues of $366.5 million were above the Zacks Consensus Estimate of $311 million.
Key Stats: Operating income in the U.S. Land Operations segment tumbled a whopping 79% from the year-earlier quarter to $25.8 million, while for the Offshore Operations unit it fell 86% to $2.1 million. The International Land Operations segment reported an operating loss of $4.9 million, as against income of $18.9 million in the third quarter of fiscal 2015.
Check back later for our full write up on this Helmerich & Payne earnings report later!
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This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Incorporated in 1940, Helmerich & Payne Inc. (HP - Free Report) is engaged in the contract drilling of oil and gas wells in the U.S. and internationally. The company supplies drilling rigs, equipment, personnel, and camps on a contractual basis to explore for and develop oil and gas from onshore areas and from fixed platforms, tension-leg platforms, and spars in offshore areas. Helmerich & Payne’s contract drilling business consists of three business segments: U.S. land drilling, offshore drilling and international land drilling.
Currently, Helmerich & Payne has a Zacks Rank #3 (Hold) but that could change following its third quarter fiscal 2016 earnings report which has just released. Coming to earnings surprise history, the Tulsa, OK-based major land and offshore drilling contractor has surpassed estimates in two of the last four quarters at an average rate of 44.73%.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Operating loss per share – excluding special items – came in at 47 cents, wider than the Zacks Consensus Estimate of loss of 42 cents.
Revenue: Revenues beat expectations. Revenues of $366.5 million were above the Zacks Consensus Estimate of $311 million.
Key Stats: Operating income in the U.S. Land Operations segment tumbled a whopping 79% from the year-earlier quarter to $25.8 million, while for the Offshore Operations unit it fell 86% to $2.1 million. The International Land Operations segment reported an operating loss of $4.9 million, as against income of $18.9 million in the third quarter of fiscal 2015.
Check back later for our full write up on this Helmerich & Payne earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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