Helmerich & Payne (HP) Beats on Q3 Earnings, Revenues - Tale of the Tape
Incorporated in 1940, Helmerich & Payne Inc. (HP) 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 #5 (Strong Sell) but that could change following its fiscal third-quarter 2015 report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Helmerich & Payne beats on fiscal third-quarter 2015 earnings. Earnings per share from continuing operations (excluding special items) came in at 27 cents, surpassing the Zacks Consensus Estimate of 17 cents.
Revenue: Revenues of $659.7 million were down 30.7% from the prior-year quarter. However, the top-line came above the Zacks Consensus Estimate of $593 million.
Key Stats: Operating income in the U.S. Land Operations segment fell 55.1% from the year-earlier quarter to $121.7 million, while for the Offshore Operations unit it fell 13.4% to $14.7 million. However, for the International Land Operations segment, income came at $16.7 million, against $6.6 million in the third quarter of fiscal 2014.
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 >>
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
HELMERICH&PAYNE (HP): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research