Incorporated in 1940, 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. Helmerich & Payne’s contract drilling business consists of three business segments: U.S. land drilling, offshore drilling and international land drilling.
Currently, Helmerich & Payne has a Zacks Rank #3 (Hold) but that could change following its fiscal second-quarter 2015 report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Helmerich & Payne beats on fiscal second-quarter 2015 earnings. Earnings per share from continuing operations (excluding special items) came in at 96 cents, surpassing the Zacks Consensus Estimate of 79 cents.
Revenue: Revenues of $883.1 million were down 1.2% from the prior-year quarter. However, the top-line came above the Zacks Consensus Estimate of $759 million.
Key Stats: Operating income in the U.S. Land Operations segment fell 8.2% from the year-earlier quarter to $224.9 million, while for the Offshore Operations unit it fell 1.4% to $19.1 million. For the International Land Operations segment, income came at $6.3 million, against $11.2 million in the second quarter of fiscal 2014.
Check back later for our full write up on this Helmerich & Payne earnings report later!
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