H&P reports Q3 net income $0.88/shr, NAS direct margin $277M, first Saudi rig arrives

Helmerich & Payne, Inc.

2024-Q3 EPS reported $2.67 revenue$2,062,814,000

Net income $89M ($0.88/shr) from revenue $698M; sequentially up from $85M ($0.84/shr) on $688M revenue.
North America Solutions operating income $163M, direct margin $277M; active rigs exited at 146, guidance 147-153 for Q4.
First super-spec FlexRig arrived in Saudi Arabia; expects first of eight rigs to start work in Q4; International Solutions had operating loss $4.8M.
Board declared $0.25 base and $0.17 supplemental dividend payable Aug 30 to holders of record Aug 16.
FY2024 guidance: capex ~$500M, depreciation ~$400M, cash taxes $150-200M; NAS direct margins $260-280M in Q4.

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