Helmerich & Payne Q1 net income $95M; guides NAS rig count 154-159

Helmerich & Payne, Inc.

2024-Q1 EPS reported $0.94 revenue$677,147,000

Net income $95M ($0.94 diluted EPS) vs $78M ($0.77) prior quarter; revenue $677M vs $660M.
NAS segment: 151 active rigs exit Dec, direct margins $256M; guiding Q2 exit 154-159 rigs and direct margins $255-275M.
Received preliminary award for 7 super-spec rigs in Middle East; plus one rig in Bahrain; to nearly double intl. active rig count.
Returned $90M to shareholders: $25M base dividend, $17M supplemental, $47M share repurchases; declared $0.25 base and $0.17 supplemental dividend payable Feb 27.
Fiscal 2024 capex maintained at $450-500M; depreciation $390M; R&D $30M; G&A $230M; cash taxes $150-200M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Helmerich & Payne, Inc. reported first fiscal quarter ended December 31, 2023 results: revenue $677 million, net income $95 million, EPS $0.94 per diluted share.

Period: first fiscal quarter ended December 31, 2023
Revenue: $677 million
Net income: $95 million
EPS: $0.94 per diluted share
Result: reported results

Exact text from the filing

Helmerich & Payne, Inc. (NYSE: HP) reported net income of $95 million, or $0.94 per diluted share, from operating revenues of $677 million for the quarter ended December 31, 2023

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Source: SEC EDGAR

accession 0000046765-24-000008

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