Helmerich & Payne +3% as quarter shows strength in industry's 'sweet spot' [Seeking Alpha]
Helmerich & Payne, Inc. (HP)
Last helmerich & payne, inc. earnings: 4/30 04:43 pm
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Source: Seeking Alpha
Helmerich & Payne +3% as quarter shows strength in industry's 'sweet spot'Helmerich & Payne (HP+3.2%) pushes higher after reporting better than expectedFQ1 earnings and a 53% Y/Y revenue increase,HP says its contracted U.S. land rig count rose ~4% to 204 by the end of the quarter compared to a slight decline in the industry rig count, with spot pricing continuing to rise by ~4%, resulting in an 11% increase in adjusted average rig margin per day.Q2 revenue days are seen rising 1%-2% Q/Q, representing a 3%-4% increase in the average number of active rigs, given the lower number of calendar days during FQ2; average rig revenue per day is seen roughly flat to slightly up vs. FQ1.HP also raises its 2018 capex budget to $350M, up from a previous range of $250M-$300M.Analyzing the results, Bloomberg's Liam Denning says "HP is in shale's sweet spot," citing its ~40% share of active super-spec rigs, which offer more power, can drill longer horizontal wells and move quickly from well to well t
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News
- Helmerich & Payne (NYSE:HP) Is Looking To Continue Growing Its Returns On Capital [Yahoo! Finance]Yahoo! Finance
- Are You a Value Investor? Bet on These 3 Energy Stocks [Yahoo! Finance]Yahoo! Finance
- Why Helmerich & Payne (HP) Might be Well Poised for a Surge [Yahoo! Finance]Yahoo! Finance
- Land Drill Rigs Market Poised for Robust Growth with Revenue Surpassing $43.8 Billion by 2023 [Yahoo! Finance]Yahoo! Finance
- All You Need to Know About Helmerich & Payne (HP) Rating Upgrade to Buy [Yahoo! Finance]Yahoo! Finance
HP
Earnings
- 1/29/24 - Beat
HP
Sec Filings
- 3/4/24 - Form 4
- 3/1/24 - Form 4
- 3/1/24 - Form 4
- HP's page on the SEC website