Helmerich & Payne: Fiscal 4Q Earnings Snapshot
TULSA, Okla. (AP) _ Helmerich & Payne Inc. (HP) on Thursday reported fiscal fourth-quarter net income of $41.2 million.
The Tulsa, Oklahoma-based company said it had net income of 37 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 39 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.
The oil and gas well-drilling contractor posted revenue of $649.1 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $653.1 million.
For the year, the company reported a loss of $33.7 million, or 34 cents per share, swinging to a loss in the period. Revenue was reported as $2.8 billion.
Helmerich & Payne shares have fallen 18% since the beginning of the year, while the Standard & Poor’s 500 index has increased 24%. In the final minutes of trading on Thursday, shares hit $39.32, a drop of 33% in the last 12 months.