Contract drilling services provider Helmerich & Payne Inc. (HP - Free Report) reported fourth quarter fiscal 2017 net operating loss per share (excluding special items) of 13 cents, narrower than the Zacks Consensus Estimate for a loss of 21 cents.
Estimate Revision Trend: Investors should note that the Zacks Consensus Estimate for the quarter has been unchanged in the last 30 days. However, in the trailing four quarters (excluding the quarter under review), Helmerich & Payne’s bottom line had outperformed the Zacks Consensus Estimate by an average of 9.22%.
Revenues: Revenues of $532.3 million were above the Zacks Consensus Estimate of $488 million. Also, it compared favorably with the year-ago number of $331.7 million.
Key Stats: The ‘U.S. Land’ segment recorded an operating loss of $4.2 million, narrower than the $69.7 million recorded a year ago. Helmerich & Payne’s ‘Offshore’ unit earned $5 million in the quarter, almost doubling year over year. Lastly, the ‘International Land’ segment reported an operating loss of $2 million, deteriorating from the $162,000 loss incurred in the fourth quarter of fiscal 2016.
Total operating costs increased 32.3% to $4562 million.
Zacks Rank: Currently, Helmerich & Payne carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: No movement has been recorded in the pre-market trading session at the time of writing. Meanwhile, Helmerich & Payne has lost 27% of its value year to date compared to the 34.6% decline of its industry.
Check back later for our full write up on this Helmerich & Payne earnings report later!
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Contract drilling services provider Helmerich & Payne Inc. (HP - Free Report) reported fourth quarter fiscal 2017 net operating loss per share (excluding special items) of 13 cents, narrower than the Zacks Consensus Estimate for a loss of 21 cents.
Estimate Revision Trend: Investors should note that the Zacks Consensus Estimate for the quarter has been unchanged in the last 30 days. However, in the trailing four quarters (excluding the quarter under review), Helmerich & Payne’s bottom line had outperformed the Zacks Consensus Estimate by an average of 9.22%.
Revenues: Revenues of $532.3 million were above the Zacks Consensus Estimate of $488 million. Also, it compared favorably with the year-ago number of $331.7 million.
Key Stats: The ‘U.S. Land’ segment recorded an operating loss of $4.2 million, narrower than the $69.7 million recorded a year ago. Helmerich & Payne’s ‘Offshore’ unit earned $5 million in the quarter, almost doubling year over year. Lastly, the ‘International Land’ segment reported an operating loss of $2 million, deteriorating from the $162,000 loss incurred in the fourth quarter of fiscal 2016.
Total operating costs increased 32.3% to $4562 million.
Zacks Rank: Currently, Helmerich & Payne carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: No movement has been recorded in the pre-market trading session at the time of writing. Meanwhile, Helmerich & Payne has lost 27% of its value year to date compared to the 34.6% decline of its industry.
Check back later for our full write up on this Helmerich & Payne earnings report later!
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Click here for Zacks' private trades >>
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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