Helmerich & Payne (HP) Company Report

Helmerich & Payne reported Q4 2025 revenues of over $1 billion and generated $207 million in operating cash flow, despite a net loss of $0.58 per diluted share. The company made significant progress on debt reduction, paying off $210 million on its term loan, with $190 million outstanding and a target to pay it off by June 2026.
The company announced the reactivation of seven suspended rigs in Saudi Arabia in the coming months, with reactivations expected to conclude by mid-2026. This strategic move contributes to a full year 2026 International rig count forecast of 56-68 rigs.
For fiscal 2026, Helmerich & Payne projects gross capital expenditures of $280-$320 million and sales, general, and administrative expenses between $265 million and $285 million, which includes $50 million in savings. North America Solutions direct margins are anticipated to be $225-$250 million in Q1 2026.
Key management promotions were announced, including Trey Adams to President, Mike Lennox to EVP of Western Hemisphere, and John Bell to EVP of Eastern Hemisphere.

Nov 18, 2025, 4:00 PM

Transcript

H&P Reports Q4 2025 Financial Results and Provides FY26 Guidance

Earnings

Guidance Update

New Projects/Investments

H&P reported Q4 2025 consolidated adjusted EBITDA of $225 million and generated Free Cash Flow of approximately $154 million.
North America Solutions achieved a direct margin of $242 million with a daily direct margin of $18,620, while International and Offshore Solutions segments delivered over $64 million in direct margin, exceeding guidance.
The company repaid $210 million of its term loan through October and anticipates repaying the entire term loan by the end of Q3 FY26. Fiscal Year 2026 Gross Capital Expenditures are projected to be between $280 million and $320 million, a notable decrease from prior years.
H&P plans to increase its active rig count in Saudi Arabia to 24 by mid-2026, with seven rigs scheduled to resume operations in 2026.

Nov 18, 2025, 4:00 PM

Presentation

HP Reports Q4 2025 Results and Provides 2026 Outlook

Earnings

Guidance Update

Management Change

For Q4 2025, H&P reported revenues of a little over $1 billion and a net loss of $0.58 per diluted share, contributing to a full-year 2025 net loss of $1.66 per share.
The company made significant progress on its deleveraging efforts, paying off $210 million of its term loan, with $190 million currently outstanding and a goal to pay it off completely by June 2026.
H&P provided its fiscal year 2026 outlook, projecting gross capital expenditures between $280 million and $320 million and sales, general, and administrative expenses between $265 million and $285 million.
Operationally, H&P announced the reactivation of seven suspended rigs in Saudi Arabia and expects its International Solutions segment to average between 56-68 rigs for fiscal 2026.
Key management promotions were announced, including Trey Adams to President, Mike Lennox to EVP Western Hemisphere, and John Bell to EVP Eastern Hemisphere.

Nov 18, 2025, 4:00 PM

Transcript

Helmerich & Payne Reports Q4 2025 Results and Provides FY 2026 Outlook

Earnings

Guidance Update

New Projects/Investments

Helmerich & Payne (H&P) reported Q4 2025 revenues of over $1 billion and a net loss of $0.58 per diluted share, or a net loss of $0.01 per share when normalizing for unusual and non-cash items.
The company is reactivating seven suspended rigs in Saudi Arabia in fiscal 2026, with operations resuming in the second and third fiscal quarters, which will increase active international rigs from 17 to 24. International direct margins are expected to improve materially after the first half of 2026 as reactivation costs abate.
For fiscal year 2026, H&P expects gross capital expenditures to be approximately $280 million-$320 million and sales, general, and administrative expenses to range between $265 million and $285 million.
H&P made significant progress on its deleveraging efforts, having paid off $210 million on its term loan, with $190 million currently outstanding, and is on track to pay it off completely by June 2026.

Nov 18, 2025, 4:00 PM

Transcript

Helmerich & Payne, Inc. Announces Fiscal Fourth Quarter and Fiscal 2025 Results and Provides Initial Fiscal Year 2026 Guidance

Earnings

Guidance Update

New Projects/Investments

Helmerich & Payne, Inc. reported a consolidated net loss of $(57) million, or $(0.58) per share, for the fiscal fourth quarter ended September 30, 2025, with an adjusted net loss of $(1) million, or $(0.01) per share. The company also realized consolidated adjusted EBITDA of $225 million.
The North America Solutions (NAS) segment reported operating income of $118 million and direct margins of $242 million for Q4 2025. The International Solutions segment had an operating loss of $(75) million with direct margins of $30 million, while Offshore Solutions contributed $20 million in operating income and $35 million in direct margins.
The company repaid $210 million on its existing $400 million term loan by the end of October 2025, ahead of schedule, and now expects to repay the entire term loan by the end of the third fiscal quarter of 2026.
For fiscal year 2026, Helmerich & Payne expects gross capital expenditures between $280 million and $320 million, including $40 million to $60 million for NAS operations and $230 million to $250 million for maintenance and reactivation capital. These gross expenditures are expected to be partially offset by approximately $40 million from asset sales.
Fiscal year 2026 operating guidance includes an average contracted rig count of 132 to 148 in NAS and 58 to 68 for International Solutions, with total Offshore direct margins projected between $100 million and $115 million. General and administrative expenses are expected to be between $265 million and $285 million.

Nov 17, 2025, 9:28 PM

8-K

Helmerich & Payne Reports Q3 2025 Financial Results and Provides Q4 Guidance

Earnings

Guidance Update

Helmerich & Payne reported consolidated adjusted EBITDA of $268 million and adjusted EPS of $0.22 for Q3 Fiscal 2025.
The North America Solutions segment achieved a direct margin of $266.2 million with 141 active rigs.
The company made $120 million in debt repayments through July, with a target of $200 million by year-end 2025, and an overall debt reduction goal of $400 million for 2025-2026.
Management has identified over $50 million in cost reductions, aiming for a total of $50 million to $75 million in overall cost savings.
For Q4 Fiscal 2025, North America Solutions direct margin is guided between $230 million and $250 million, and full fiscal year 2025 gross capital expenditures are projected to be between $380 million and $395 million.

Aug 7, 2025, 3:00 PM

Presentation

H&P to Participate in JP Morgan Conference, Updates Rig Suspensions

M&A

Demand Weakening

H&P executives, including CFO Kevin Vann, will attend the J.P. Morgan 2025 Energy, Power and Renewables Conference in New York on June 24-25, 2025.
The company reported contract suspensions for nine additional rigs in Saudi Arabia, bringing total suspensions to 26 rigs following its Q2 2025 earnings release.
Despite these short-term challenges in the Saudi market, the company maintains a strong financial foundation and is beginning to capture synergies from its recent acquisition.

Jun 11, 2025, 12:00 AM

8-K

Helmerich & Payne, Inc. Reports Pro Forma Operations Post-Acquisition

M&A

Accounting Changes

Earnings

Combined operations statement: The document presents an unaudited pro forma condensed combined statement of operations for the six months ended March 31, 2025, reflecting the acquisition of KCA Deutag and combining H&P’s historical results with those of KCA Deutag as if the acquisition occurred on October 1, 2024.
Acquisition details and financing: The acquisition involved a total cash consideration of approximately $2.0 billion, which was partly funded through cash, additional debt borrowing, and proceeds from a senior notes offering, and included adjustments for repaying KCA Deutag’s debt.
Pro forma adjustments and earnings impact: The statement includes significant pro forma adjustments, such as IFRS-to-U.S. GAAP conversion adjustments and reclassification entries, resulting in a reported pro forma net loss of $15.9 million for the period.

May 15, 2025, 12:00 AM

8-K

Helmerich & Payne Releases Q2 2025 Earnings Results

Earnings

Guidance Update

M&A

The Q2 report shows strong operational performance with North America Solutions Direct Margin of $265.6 MM and Adjusted EBITDA of $241.5 MM, reflecting a focus on efficient, performance-based contracting.
The company made progress on debt reduction by repaying $25 MM on a $400 MM term loan and targets a $175 MM reduction in 2025, while maintaining robust liquidity at $1.15 B.
Integration of the KCA Deutag acquisition and expanded international exposure were highlighted, with Q3 guidance providing direct margin ranges across key segments.

May 8, 2025, 3:00 PM

Presentation

Helmerich & Payne Reports Q2 2025 Results

Earnings

M&A

Dividends

Helmerich & Payne announced fiscal Q2 2025 results with operating revenues of $1.0 billion and net income of $1.7 million (or $0.01 per diluted share).
The company completed its acquisition of KCA Deutag, expecting to achieve over $25 million in expense synergies and reduce its overall cost structure by $50–75 million.
Operational highlights include strong North America Solutions performance with $152 million operating income, active debt reduction with a $25 million term loan repayment, and a $25 million dividend return to shareholders.

May 7, 2025, 12:00 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for Helmerich & Payne.

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