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Helmerich & Payne (HP) Q4 Loss Narrower Than Expected

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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!

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