Quarterly ResultMay 6, 2026, 04:32 PM
Helmerich & Payne Q2 Revenue $932M; Net Loss $(59)M
AI Summary
Helmerich & Payne announced its fiscal second-quarter results, reporting consolidated revenue of $932 million and a net loss of $(59) million, or $(0.59) per share, which included a non-cash impairment charge. Adjusted earnings were $(38) million, or $(0.38) per share, with adjusted EBITDA totaling $178 million. The company highlighted solid operational performance, the sale of Utica Square exceeding targets, and the early retirement of its term loan facility, significantly reducing debt. While International Solutions faced challenges due to the Middle East conflict, North America Solutions showed strengthening activity, and Offshore Solutions exceeded expectations.
Key Highlights
- Helmerich & Payne reported consolidated revenue of $932 million for Q2 FY2026.
- Consolidated net loss was $(59) million, or $(0.59) per share, including a $26 million impairment.
- Adjusted earnings were $(38) million, or $(0.38) per share, with adjusted EBITDA of $178 million.
- North America Solutions operating income was $111 million, with direct margin of $215 million.
- International Solutions reported an operating loss of $(100) million, with direct margin of $11.5 million.
- Offshore Solutions operating income was $14 million, with direct margin of $27 million, exceeding guidance.
- The company completed the sale of Utica Square, with after-tax proceeds exceeding $100 million.
- Retired the term loan facility ahead of schedule, reducing post-acquisition debt by $400 million.
- Returned approximately $25 million to shareholders through the ongoing dividend program.
- Q3 FY2026 guidance for North America Solutions direct margin is $230-$240 million, with 137-143 average rigs.