Helmerich & Payne reports Q2 adjusted EBITDA $242M

Reports Q2 revenue $1.02B, consensus $955.43M. The company said, “We’re confident this international expansion will benefit us over the long-term, despite the near-term challenges the industry is facing, as we build on our position to deliver leading edge solutions for our customers around the world. Our North American Solutions segment remains resilient, as our customer focus allowed us to maintain a steady rig count and realize margins that were better than our expectations going into the quarter. Looking ahead, we expect a modestly lower rig count as market volatility overrides any potential incremental demand. I would note that performance contracts and technology solutions remain a critical component of our overall contracting strategy, and we continue to see benefits for both our customers and H&P by providing a win-win value proposition.”