HP - Why Is Drilling Rig Operator Helmerich & Payne Stock Seeing Blue Skies Today? | Benzinga
Helmerich & Payne Inc (NYSE:HP) shares are surging today after the company reported first-quarter FY24 results yesterday.
Revenue of $677.1 million beat the consensus of $662.2 million. Adjusted EPS of $0.97 beat the consensus of $0.72.
Segment operating income stood at $153.2 million vs. $130.6 million prior quarter. Operating cash flow stood at $175 million in the quarter.
The North America Solutions (NAS) segment exited the first quarter with 151 active rigs and witnessed an increase in revenue per day of about $1,000/day to $38,300/day on a sequential basis, while direct margins per day rose by about $1,200/day to ...