We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's What Key Metrics Tell Us About Helmerich & Payne (HP) Q1 Earnings
Read MoreHide Full Article
Helmerich & Payne (HP - Free Report) reported $677.15 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 5.9%. EPS of $0.97 for the same period compares to $1.11 a year ago.
The reported revenue represents a surprise of +2.90% over the Zacks Consensus Estimate of $658.06 million. With the consensus EPS estimate being $0.68, the EPS surprise was +42.65%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Helmerich & Payne performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average active rigs - North America Solutions: 149 versus 150 estimated by four analysts on average.
Average active rigs - Offshore Gulf of Mexico: 3 versus 4 estimated by four analysts on average.
Average active rigs - International Solutions: 13 compared to the 13 average estimate based on four analysts.
Number of available rigs at the end of period - Offshore Gulf of Mexico: 7 versus 7 estimated by four analysts on average.
Number of available rigs at the end of period - International Solutions: 22 versus 22 estimated by four analysts on average.
Number of available rigs at the end of period - North America Solutions: 233 versus 233 estimated by four analysts on average.
Number of active rigs at the end of period - Offshore Gulf of Mexico: 3 compared to the 4 average estimate based on two analysts.
Operating Revenues- Total Other: $2.58 million versus $2.07 million estimated by four analysts on average.
Operating Revenues- Drilling services: $674.57 million versus $649.55 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -5.9% change.
Operating Revenues- International Solutions: $54.75 million compared to the $51.21 million average estimate based on four analysts. The reported number represents a change of -0.1% year over year.
Operating Revenues- Offshore Gulf of Mexico: $25.53 million versus $28.88 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -27.4% change.
Operating Revenues- North America Solutions: $594.28 million compared to the $570.43 million average estimate based on four analysts. The reported number represents a change of -5.2% year over year.
Shares of Helmerich & Payne have returned -0.6% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Here's What Key Metrics Tell Us About Helmerich & Payne (HP) Q1 Earnings
Helmerich & Payne (HP - Free Report) reported $677.15 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 5.9%. EPS of $0.97 for the same period compares to $1.11 a year ago.
The reported revenue represents a surprise of +2.90% over the Zacks Consensus Estimate of $658.06 million. With the consensus EPS estimate being $0.68, the EPS surprise was +42.65%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Helmerich & Payne performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average active rigs - North America Solutions: 149 versus 150 estimated by four analysts on average.
- Average active rigs - Offshore Gulf of Mexico: 3 versus 4 estimated by four analysts on average.
- Average active rigs - International Solutions: 13 compared to the 13 average estimate based on four analysts.
- Number of available rigs at the end of period - Offshore Gulf of Mexico: 7 versus 7 estimated by four analysts on average.
- Number of available rigs at the end of period - International Solutions: 22 versus 22 estimated by four analysts on average.
- Number of available rigs at the end of period - North America Solutions: 233 versus 233 estimated by four analysts on average.
- Number of active rigs at the end of period - Offshore Gulf of Mexico: 3 compared to the 4 average estimate based on two analysts.
- Operating Revenues- Total Other: $2.58 million versus $2.07 million estimated by four analysts on average.
- Operating Revenues- Drilling services: $674.57 million versus $649.55 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -5.9% change.
- Operating Revenues- International Solutions: $54.75 million compared to the $51.21 million average estimate based on four analysts. The reported number represents a change of -0.1% year over year.
- Operating Revenues- Offshore Gulf of Mexico: $25.53 million versus $28.88 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -27.4% change.
- Operating Revenues- North America Solutions: $594.28 million compared to the $570.43 million average estimate based on four analysts. The reported number represents a change of -5.2% year over year.
View all Key Company Metrics for Helmerich & Payne here>>>Shares of Helmerich & Payne have returned -0.6% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.