Helmerich & Payne (HP) Q1 Revenue Tops Views

Helmerich & Payne (NYSE: HP) reported Q1 EPS of $0.27, may not compare to the analyst estimate of $0.08. Revenue for the quarter came in at $615 million versus the consensus estimate of $603.01 million.

• The net income per diluted share for the first fiscal quarter of 2020 and the fourth fiscal quarter of 2019 include $0.14 and $(0.01), respectively, of after-tax gains and losses comprised of select items(3).

Other Estimates for Fiscal 2020

• Gross capital expenditures are still expected to be approximately $275 to $300 million; 57-62% expected for maintenance, 17-19% expected for tubular purchases, 11-15% for walking conversions, and roughly 10% for corporate and information technology projects. Asset sales include reimbursements for lost and damaged tubulars and sales of other used drilling equipment that offset a portion of the gross capital expenditures and are expected to total $35 to $45 million in fiscal 2020.
• General and administrative expenses for fiscal 2020 are still expected to be approximately $200 million
• Depreciation is still expected to be approximately $540 million

For earnings history and earnings-related data on Helmerich & Payne (HP) click here.

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