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Helmerich & Payne (HP) Q3 Loss Narrower Than Expected

Are you eager to know how Helmerich & Payne Inc. HP performed in fiscal Q3 in comparison with the market expectations? Let's quickly scan through the key facts from this Tulsa, OK-based company's earnings release this morning:

About Helmerich & Payne:

Incorporated in 1940, Helmerich & Payne 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.

Zacks Rank & Surprise History:

Currently, Helmerich & Payne has a Zacks Rank #3 (Hold) but that could change following its fiscal third quarter 2017 earnings report which has just released. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Coming to earnings surprise history, the company has a dismal record: It missed earnings estimates in three out of last four quarters, posting a negative average earnings surprise of 4.24% in the trailing four quarters.

We have highlighted some of the key details from the just-released announcement below:

A Narrower-than-Expected Loss : Helmerich & Payne's net operating loss per share - excluding special items - came in at 18 cents, narrower than the Zacks Consensus Estimate for a loss of 31 cents.

Revenue Came in Higher than Expected : Revenues beat expectations. Revenues of $498.5 million were above the Zacks Consensus Estimate of $440 million.

Helmerich & Payne, Inc. Price and EPS Surprise

Helmerich & Payne, Inc. Price and EPS Surprise | Helmerich & Payne, Inc. Quote

Key Stats : The 'U.S. Land' segment reported an operating loss of $8 million as against earnings of $25.8 million the year ago quarter. Helmerich & Payne's 'Offshore' unit earned $6.4 million in the third quarter, as against 2.1 million in the prior year quarter. Lastly, the 'International Land' segment reported operating earnings of $4.9 million, as against the loss of $5 million in the year ago quarter.

Operating costs increased by approximately 81.2% to $337.4 million when compared to the prior year quarter.

Share Performance : Shares have declined almost 29% year-to-date, while the industry has declined 36 %.

Check back later for our full write up on this Helmerich & Payne earnings report later!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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