Helmerich & Payne Inc. (HP) is engaged in the contract drilling of oil and gas wells in the U.S. and internationally. The company supplies drilling rigs, equipment, personnel, and camps on a contractual basis to explore for and develop oil and gas from onshore areas and from fixed platforms, tension-leg platforms, and spars in offshore areas.
Currently, Helmerich & Payne has a Zacks Rank #3 (Hold) but that could change following its fiscal first quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Helmerich & Payne beats on earnings. Earnings per share from continuing operations (excluding special items) came in at $1.70, above the Zacks Consensus Estimate of $1.57.
Revenue: Revenues of $1,056.6 million was substantially higher than the Zacks Consensus Estimate of $974 million.
Key Stats: Operating income in the U.S. Land Operations segment increased by 26.8% from the year-earlier quarter to $318.1 million, while for the Offshore Operations unit it improved 16.1% to $21.5 million. However, the International Land Operations segment profitability took a hit – coming down to $12.2 million, from $12.8 million in the first quarter of 2014.
Check back later for our full write up on this Helmerich & Payne earnings report later!
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