Helmerich - HP STOCK NEWS

Helmerich & Payne (NYSE: HP) has announced its management team's participation in two major investor conferences in March 2025. The company will attend the Piper Sandler 25th Annual Energy Conference (March 18-19, 2025), where President and CEO John Lindsay will join a panel discussion on March 19 at 10:45 a.m. PT. Additionally, HP will participate in the NYSE Energy & Utilities Virtual Investor Access Day on March 20, 2025.

In a market update following their Q1 FY2025 earnings release, HP reported receiving notices of contract suspensions for two additional rigs from the legacy KCA Deutag fleet in Saudi Arabia, bringing the total suspended rigs in the country to 14. CEO John Lindsay stated that while these suspensions are disappointing, they are not expected to materially impact the company's financial position. The company maintains optimism about its long-term strategic presence in the region and continues to pursue cost synergies.

Helmerich & Payne (NYSE: HP) reported Q1 fiscal 2025 results with net income of $55 million ($0.54 per diluted share) on operating revenues of $677 million, down from $75 million ($0.76 per diluted share) on $694 million revenue in Q4 2024. The company reported Adjusted EBITDA of $199 million.

The North America Solutions segment maintained 148 active rigs with revenue per day of $38,600 and direct margins of $19,400/day. The company completed the exportation of eight super-spec FlexRigs to Saudi Arabia and declared a quarterly dividend of $0.25 per share.

A significant development was the completion of the KCA Deutag acquisition, which increases HP's contracted rig count in Middle Eastern markets from 11 to 65 and adds approximately $5.5 billion in backlog. The company expects its North America Solutions rig count to remain relatively flat, exiting Q2 with 146-152 active rigs.

Helmerich & Payne (NYSE: HP) has completed its acquisition of KCA Deutag International , creating a global leader in onshore drilling. The transformative acquisition significantly enhances H&P's international presence, particularly in the Middle East, while strengthening its cash flow through a more diversified and durable revenue stream.

The company expects to achieve both near- and long-term growth and value creation through enhanced scale and diversification across U.S. and international crude oil and natural gas markets. H&P remains headquartered in Tulsa, Oklahoma, with John Lindsay continuing as President and CEO, while KCA Deutag's CEO Joseph Elkhoury will not continue with the company. H&P plans to provide an updated outlook for fiscal year 2025 when reporting its fiscal first quarter 2025 results.

Helmerich & Payne (NYSE: HP) has scheduled its fiscal first quarter 2025 earnings conference call for Thursday, February 06, 2025, at 11:00 a.m. ET. The company's President and CEO John Lindsay, Senior VP and CFO Kevin Vann, and VP of Investor Relations Dave Wilson will host the call.

Investors can access the call via phone (domestic: 800-445-7795, international: 785-424-1699) or through a webcast on the company's website. The earnings release and presentation will be available at www.helmerichpayne.com. For those unable to attend live, the webcast will be archived for 365 days on the company's website under the Investors section.

Helmerich & Payne (NYSE:HP) has released its 2024 Sustainability Report, covering the fiscal year ended September 30, 2024. The report showcases the company's progress in sustainability initiatives and responsible energy solutions. Key highlights include updates on emissions reduction goals, environmental management system improvements, enhanced governance practices, and revised Quantitative Scenario Analysis.

CEO John Lindsay emphasized the company's commitment to transparency in non-financial data reporting and acknowledged employees' contributions to their success. The report adheres to major sustainability reporting frameworks, including IFRS Sustainability Accounting Standards Board (SASB), Global Reporting Initiative (GRI), and Task Force on Climate-related Financial Disclosures (TCFD). It covers various sustainability programs encompassing environmental, safety, talent, and governance metrics.

Helmerich & Payne (NYSE: HP) reported Q4 fiscal 2024 net income of $75 million ($0.76 per diluted share) on revenues of $694 million, compared to $89 million ($0.88 per share) in Q3. Full fiscal year 2024 delivered net income of $344 million ($3.43 per share) on revenues of $2.8 billion. The North America Solutions segment exited Q4 with 151 active rigs and revenue per day of $39,100 with direct margins of $19,800/day. The company expects FY2025 capital expenditures between $290-325 million and declared a quarterly dividend of $0.25 per share.

Helmerich & Payne, Inc. (NYSE: HP) has announced its fiscal fourth quarter 2024 earnings conference call and webcast, scheduled for Thursday, November 14, 2024, at 11:00 a.m. (ET). The call will feature John Lindsay (President and CEO), Kevin Vann (Senior Vice President and CFO), and Dave Wilson (Vice President of Investor Relations).

Investors can participate via phone or audio webcast. Domestic callers can dial 800-225-9448, while international callers should use 203-518-9708, both with the access code 'Helmerich'. The webcast link will be available on the company's website under the 'Investors' section. For those unable to attend live, the call will be archived for 365 days on the company's website.

Helmerich & Payne (NYSE:HP) has priced a $1.25 billion senior notes offering, consisting of three tranches: $350 million of 4.650% notes due 2027, $350 million of 4.850% notes due 2029, and $550 million of 5.500% notes due 2034. The offering is expected to close on September 17, 2024. The proceeds will be used to finance the acquisition of KCA Deutag International (KCAD), repay KCAD's debt, and cover related expenses. This offering will reduce the company's bridge loan commitments to approximately $332 million. The notes are subject to a special mandatory redemption if the KCAD acquisition doesn't close by October 25, 2025. The notes are being offered only to qualified institutional buyers and non-U.S. persons outside the United States.

Helmerich & Payne (NYSE:HP) has announced a private offering of senior unsecured notes to qualified institutional buyers and non-U.S. persons. The proceeds will be used to finance the acquisition of KCA Deutag International (KCAD), repay KCAD's outstanding debt, and cover related expenses. This offering will reduce commitments under HP's existing bridge loan facility for the acquisition.

The notes will have a 'special mandatory redemption' clause if the acquisition doesn't occur by October 25, 2025, or if HP decides not to pursue it. The notes are not registered under the Securities Act and cannot be sold in the U.S. without registration or an exemption. This announcement does not constitute an offer to sell or solicit offers to buy the notes.