Helmerich & Payne Q1 net loss $97M on $103M impairment; NAS income down 69%

Helmerich & Payne, Inc.

2026-Q1 EPS reported -$0.98 revenue$1,017,026,000

Net loss $97M ($0.98 diluted EPS) includes $103M non-cash impairment; adjusted loss $14M ($0.15).
North America Solutions operating income $36M (down from $118M) due to $98M impairment; direct margins $239M at $18,193/day.
International Solutions operating loss $55M, improved from $76M; direct margins $29M.
Repaid $260M of $400M term loan; expects full repayment by Q3 FY2026.
CEO John Lindsay retiring March 2026; leadership transition to Trey Adams, no strategic change.

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