Helmerich & Payne Inc.(HP - Free Report) performed in fiscal Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Tulsa, OK-based company’s earnings release this morning:
About Helmerich & Payne:
Incorporated in 1940, Helmerich & Payne 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.
Zacks Rank & Surprise History:
Currently, Helmerich & Payne has a Zacks Rank #3 (Hold) but that could change following its fiscal second quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Coming to earnings surprise history, the company has a dismal record: It has posted negative average earnings surprise of 2.14% in the trailing four quarters.
We have highlighted some of the key details from the just-released announcement below:
A Wider-than-Expected Loss: Helmerich & Payne reports loss. Net operating loss per share – excluding special items – came in at 47 cents, wider than the Zacks Consensus Estimate for a loss of 41 cents.
Revenue Came in Higher than Expected: Revenues beat expectations. Revenues of $405 million were above the Zacks Consensus Estimate of $391 million.
Key Stats: The ‘U.S. Land’ segment reported an operating loss of $51.8 million as against earnings of $62.5 million the year ago quarter. Helmerich & Payne’s ‘Offshore’ unit earned $5.9 million in the first quarter, up 79% from last year. Lastly, the ‘International Land’ segment reported an operating loss of $11 million, as against the loss of $2.3 million in the year ago quarter.
Total operating costs increased by approximately 34% to $296.9 million when compared to the prior year quarter.
Share Performance: Shares have risen almost 0.4% year-to-date, while the Zacks categorized Oil & Gas - Drilling industry has declined 16.4 %.
Check back later for our full write up on this Helmerich & Payne earnings report later!
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Helmerich & Payne Inc.(HP - Free Report) performed in fiscal Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Tulsa, OK-based company’s earnings release this morning:
About Helmerich & Payne:
Incorporated in 1940, Helmerich & Payne 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.
Zacks Rank & Surprise History:
Currently, Helmerich & Payne has a Zacks Rank #3 (Hold) but that could change following its fiscal second quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Coming to earnings surprise history, the company has a dismal record: It has posted negative average earnings surprise of 2.14% in the trailing four quarters.
We have highlighted some of the key details from the just-released announcement below:
A Wider-than-Expected Loss: Helmerich & Payne reports loss. Net operating loss per share – excluding special items – came in at 47 cents, wider than the Zacks Consensus Estimate for a loss of 41 cents.
Revenue Came in Higher than Expected: Revenues beat expectations. Revenues of $405 million were above the Zacks Consensus Estimate of $391 million.
Key Stats: The ‘U.S. Land’ segment reported an operating loss of $51.8 million as against earnings of $62.5 million the year ago quarter. Helmerich & Payne’s ‘Offshore’ unit earned $5.9 million in the first quarter, up 79% from last year. Lastly, the ‘International Land’ segment reported an operating loss of $11 million, as against the loss of $2.3 million in the year ago quarter.
Total operating costs increased by approximately 34% to $296.9 million when compared to the prior year quarter.
Share Performance: Shares have risen almost 0.4% year-to-date, while the Zacks categorized Oil & Gas - Drilling industry has declined 16.4 %.
Check back later for our full write up on this Helmerich & Payne earnings report later!
The Best & Worst of Zacks
Today you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. From 1988 through 2015 this list has averaged a stellar gain of +25% per year. Plus, you may download 220 Zacks Rank #5 "Strong Sells." Even though this list holds many stocks that seem to be solid, it has historically performed 6X worse than the market. See these critical buys and sells free >>
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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