Helmerich & Payne (HP) quarter year Helmerich & Payne Financial Results Summary
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Helmerich & Payne, Inc. (HP) Q4 2025 Financial Results Summary
Release Date: November 17, 2025
Helmerich & Payne, Inc. recently announced its fiscal fourth quarter and fiscal 2025 results. Below is a summary of the operating and financial highlights as well as guidance for the upcoming fiscal year:
Financial Highlights for the Quarter Ended September 30, 2025
- Net Loss: Consolidated net loss of $(57) million, or $(0.58) per share.
- Adjusted Net Loss excluding non-recurring items was $(1) million, or $(0.01) per share.
- Segment Performance:
- North America Solutions (NAS):
- Operating income of $118 million, down from $158 million in the prior quarter.
- Direct margins of $242 million, with a margin per day of $18,620.
- International Solutions:
- Operating loss of $(75) million, improved from $(167) million in the last quarter.
- Direct margins approximately $30 million.
- Offshore Solutions:
- Operating income of approximately $20 million, up from $9 million in the previous quarter, with direct margins exceeding $35 million.
- Consolidated Adjusted EBITDA: Amounted to $225 million.
Shareholder Returns
- Approximately $25 million was returned to shareholders through its dividend program.
Debt Management
- The company repaid $210 million on its existing $400 million term loan, reducing projected repayments ahead of schedule, with full repayment anticipated by the end of Q3 FY 2026.
Select Operating and Financial Guidance for FY 2026
- Capital Expenditures: Expected to range between $280 million and $320 million.
- Capital for NAS operations projected at $40 million to $60 million.
- Maintenance and reactivation capital for international fleets estimated at about $230 million to $250 million.
- Operating Rig Count Projections:
- Average contracted rig count for NAS: 132 to 148.
- Average operating rig count for International Solutions: 58 to 68.
- Anticipated total Offshore direct margins between $100 million to $115 million.
- Cost guidance indicates a significant reduction in general and administrative expenses by over $50 million compared to pro forma 2025.
Operational Outlook
- North America Solutions Direct Margin Guidance: Expected between $225 million and $250 million.
- International Solutions Direct Margin Guidance: Expected between $13 million and $23 million.
Summary of Q4 Operational Results
- North America Solutions:
- Revenue: $572 million, with direct margins slightly lower compared to $266 million previously.
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Active rigs averaged 141 during the quarter.
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International Solutions:
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Revenue: $241 million, showing significant improvement compared to past quarters.
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Offshore Solutions:
- Income had increased notably from the prior quarter.
Additional Executive Commentary
- CEO John Lindsay highlighted key accomplishments for FY 2025, citing strong customer partnerships and operational growth across global surfaces.
- CFO Kevin Vann emphasized the focus on financial discipline, looking ahead towards sustainable economic returns, strong free cash flow, and debt reduction strategies.
Conclusion
Helmerich & Payne, Inc. has indicated a strategy focused on stability and growth in FY 2026 through prudent capital expenditure, proactive debt repayment, and maintaining robust operational metrics. The execution of new contracts and financial discipline illustrates the company’s commitment to long-term shareholder value.
Here are the extracted tables formatted in HTML:
HELMERICH & PAYNE, INC. CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
| September 30, 2025 | June 30, 2025 | September 30, 2024 | September 30, 2025 | September 30, 2024 | |
|---|---|---|---|---|---|
| OPERATING REVENUES | |||||
| Drilling services | 990,211 | 1,005,514 | 691,293 | 3,678,660 | 2,746,128 |
| Other | 21,537 | 35,410 | 2,500 | 67,353 | 10,479 |
| 1,011,748 | 1,040,924 | 693,793 | 3,746,013 | 2,756,607 | |
| OPERATING COSTS AND EXPENSES | |||||
| Drilling services operating expenses, excluding depreciation and amortization | 694,611 | 704,224 | 407,017 | 2,511,408 | 1,624,681 |
| Other operating expenses | 20,319 | 31,059 | 1,176 | 56,019 | 4,483 |
| Depreciation and amortization | 188,857 | 179,491 | 100,992 | 625,085 | 397,344 |
| Research and development | 7,567 | 7,777 | 8,850 | 34,125 | 40,955 |
| Selling, general and administrative | 77,645 | 65,506 | 66,920 | 287,052 | 244,883 |
| Acquisition transaction costs | 5,677 | 8,623 | 7,452 | 54,702 | 14,982 |
| Asset impairment charges | 18,928 | 173,258 | — | 194,030 | — |
| Restructuring charges | 7,450 | 4,681 | — | 12,131 | — |
| Gain on reimbursement of drilling equipment | -7,249 | -6,773 | -8,622 | -33,398 | -33,309 |
| Other (gain) loss on sale of assets | -595 | 1,347 | 2,421 | 1,541 | 5,139 |
| 1,013,210 | 1,169,193 | 586,206 | 3,742,695 | 2,299,158 | |
| OPERATING INCOME (LOSS) | -1,462 | -128,269 | 107,587 | 3,318 | 457,449 |
| Other income (expense) | |||||
| Interest and dividend income | 3,353 | 2,856 | 11,979 | 35,207 | 41,168 |
| Interest expense | -27,972 | -29,200 | -16,124 | -107,808 | -29,093 |
| Gain (loss) on investment securities | -36,461 | -337 | 13,851 | -22,377 | 13,953 |
| Foreign currency exchange gain (loss) | 6,455 | -9,216 | -1,041 | -9,682 | -5,550 |
| Other | -5,985 | 31,258 | 102 | 27,229 | 3,093 |
| -60,610 | -4,639 | 8,767 | -77,431 | 23,571 | |
| Income (loss) before income taxes | -62,072 | -132,908 | 116,354 | -74,113 | 481,020 |
| Income tax expense (benefit) | -6,265 | 28,991 | 40,878 | 85,835 | 136,855 |
| NET INCOME (LOSS) | -55,807 | -161,899 | 75,476 | -159,948 | 344,165 |
| Net income attributable to non-controlling interest | 1,556 | 859 | — | 3,747 | — |
| NET INCOME (LOSS) ATTRIBUTABLE TO HELMERICH & PAYNE, INC. | -57,363 | -162,758 | 75,476 | -163,695 | 344,165 |
| Basic earnings (loss) per common share | -0.58 | -1.64 | 0.75 | -1.66 | 3.43 |
| Diluted earnings (loss) per common share | -0.58 | -1.64 | 0.76 | -1.66 | 3.43 |
| Weighted average shares outstanding: | |||||
| Basic | 99,441 | 99,422 | 98,755 | 99,272 | 98,857 |
| Diluted | 99,441 | 99,422 | 98,995 | 99,272 | 99,067 |
HELMERICH & PAYNE, INC. CONSOLIDATED BALANCE SHEETS
(in thousands except share data and share amounts)
| September 30, 2025 | September 30, 2024 | |
|---|---|---|
| ASSETS | ||
| Current Assets: | ||
| Cash and cash equivalents | 196,848 | 217,341 |
| Restricted cash | 27,412 | 68,902 |
| Short-term investments | 21,496 | 292,919 |
| Accounts receivable, net of allowance of $19,647 and $2,977, respectively | 782,644 | 418,604 |
| Inventories of materials and supplies, net | 324,326 | 117,884 |
| Prepaid expenses and other, net | 97,518 | 76,419 |
| Assets held-for-sale | 15,231 | — |
| Total current assets | 1,465,475 | 1,192,069 |
| Investments, net | 68,198 | 100,567 |
| Property, plant and equipment, net | 4,313,074 | 3,016,277 |
| Other Noncurrent Assets: | ||
| Goodwill | 182,854 | 45,653 |
| Intangible assets, net | 485,540 | 54,147 |
| Operating lease right-of-use asset | 123,598 | 67,076 |
| Restricted cash | 1,640 |