Helmerich & Payne ( (HP) ) has released its Q1 earnings. Here is a breakdown of the information Helmerich & Payne presented to its investors.
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Helmerich & Payne, Inc. is a Delaware-based company specializing in drilling services and technology solutions for the oil and gas industry, with operations primarily in North America and internationally. In its latest earnings report for the quarter ended December 31, 2024, Helmerich & Payne, Inc. reported operating revenues of $677.3 million, which remained stable compared to the previous year. The company also completed a significant acquisition of KCA Deutag International Limited for approximately $2.0 billion, expanding its global presence. Key financial highlights from the report include a net income of $54.8 million, a decrease from $95.2 million the previous year, and earnings per share of $0.55, down from $0.95. The company’s cash and cash equivalents increased significantly to $391.2 million, up from $217.3 million in the previous quarter. Looking forward, the company anticipates growth opportunities from its recent acquisition and aims to leverage its expanded operations to enhance shareholder value.
