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Last $57.74 USD
Change Today -0.99 / -1.69%
Volume 2.0M
HP On Other Exchanges
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As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

helmerich & payne (HP) Key Developments

Helmerich & Payne, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended June 30, 2015; Provides Drilling Operations Outlook and Tax Rate Guidance for the Fourth Quarter of Fiscal 2015 and Provides Capex Guidance for the Full Year 2015 an 2016

Helmerich & Payne, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended June 30, 2015. For the quarter, the company reported net income of $91 million or $0.83 per diluted share from operating revenues of $660 million for the third fiscal quarter of 2015, compared to net income of $192 million or $1.75 per diluted share from operating revenues of $952 million during the third quarter of fiscal 2014, and net income of $150 million or $1.37 per diluted share from operating revenues of $883 million during the second quarter of fiscal 2015. Operating income was $132,780,000 against $271,912,000 a year ago. Income from continuing operations before income taxes was $127,843,000 against $295,078,000 a year ago. Income from continuing operations was $90,887,000 or $0.83 per diluted share against $192,290,000 or $1.75 per diluted share a year ago. For the nine months, the company reported operating revenues of $2,599,331,000 against $2,734,669,000 a year ago. Operating income was $691,771,000 against $791,285,000 a year ago. Income from continuing operations before income taxes was $687,005,000 against $833,450,000 a year ago. Income from continuing operations was $443,480,000 or $4.06 per diluted share against $540,061,000 or $4.92 per diluted share a year ago. Net income was $443,439,000 or $4.06 per diluted share against $540,031,000 or $4.92 per diluted share a year ago. Net cash provided by operating activities was $1,147,539,000 against $797,895,000 a year ago. Capital expenditures were $971,857,000 against $622,028,000 a year ago. The effective income tax rate for the third fiscal quarter was 28.9%. This reduced rate was mostly a result of a favorable adjustment to U.S. deferred state income tax rate caused by less activity in the states where the company operate in as well as decreases to some of the state income tax rates. The company provided drilling operations outlook for the fourth quarter of fiscal 2015. In the U.S. land segment, the company expects revenue days (activity) to decrease by roughly 3% to 4% during the fourth fiscal quarter as compared to the third fiscal quarter of 2015.  Excluding the impact from early termination revenue during the fourth quarter of fiscal 2015, the average rig revenue per day is expected to decrease to roughly $26,000, and the corresponding average rig expense per day is expected to decrease to roughly $13,900.  Furthermore, the company expects an effective income tax rate of approximately 34% for the fourth quarter of fiscal 2015. For the fiscal 2015, the company continues to expect a total of approximately $1.3 billion in capital expenditures during all of fiscal 2015. The company capital expenditures estimate for fiscal 2016 until the next conference call in November, at this point, the company would expect the fiscal 2016 estimate to be significantly lower than the one for fiscal 2015.

Helmerich & Payne, Inc. to Report Q3, 2015 Results on Jul 30, 2015

Helmerich & Payne, Inc. announced that they will report Q3, 2015 results at 11:00 AM, US Eastern Standard Time on Jul 30, 2015

Helmerich & Payne, Inc., Q3 2015 Earnings Call, Jul 30, 2015

Helmerich & Payne, Inc., Q3 2015 Earnings Call, Jul 30, 2015

Helmerich & Payne, Inc. Declares Quarterly Cash Dividend, Payable September 1, 2015

The directors of Helmerich & Payne, Inc. at a board of directors meeting held on June 3, 2015, declared a quarterly cash dividend of $0.6875 per share on its common stock, payable September 1, 2015, to stockholders of record at the close of business August 14, 2015.

Helmerich & Payne, Inc., Board Meeting, Jun 03, 2015

Helmerich & Payne, Inc., Board Meeting, Jun 03, 2015. Agenda: To declare a quarterly cash dividend.

 

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