Helmerich & Payne, Inc.

Helmerich & Payne, Inc. announced its third fiscal quarter results, reporting consolidated revenue of $1.035 billion and net income of $76 million, or $0.74 per share. Adjusted for a significant real estate sale gain and other items, the company reported adjusted losses of $(10) million, or $(0.11) per share. All segments exceeded direct margin guidance, with strong operational performance including the deployment of 10 additional rigs in North America and new contracts in International and Offshore Solutions. Management highlighted ongoing efficiency initiatives and a commitment to debt reduction and shareholder returns.

Helmerich & Payne, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.25 per share on the company's common stock. This dividend is scheduled to be paid on September 1, 2026, to shareholders who are on record as of the close of business on August 18, 2026.

Helmerich & Payne, Inc. reported a significant net loss of $(58.6) million for the second quarter of fiscal year 2026, a sharp decline from a net income of $1.7 million in the prior-year quarter. Diluted earnings per share also fell to $(0.59) from $0.01. The company's operating revenues decreased to $932.4 million, primarily due to lower drilling services revenue. This quarter's results were heavily impacted by substantial asset impairment charges totaling $26.1 million, including a $97.9 million non-cash charge related to scrapping 30 North America Solutions rigs as part of a fleet right-sizing strategy. Additionally, the company announced the rebranding of its Kenera business unit to BENTEC™.

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.