Oct 7, 12:20 PM ET
Helmerich & Payne said it expects direct margins for its North America, International and Offshore Solutions segments to be at or near the high end of previously issued guidance for the fourth quarter of fiscal 2026. The company also said all other financial guidance from its August 5, 2026 earnings release is unchanged, and it maintained its base dividend and its target of about 1x net debt to adjusted EBITDA by calendar year-end 2027. These figures are preliminary, unaudited and subject to financial closing procedures.
- North America Solutions rig count expected near the high end of the fiscal Q4 2026 guidance range
- International Solutions direct margins expected to be around $45 million for the quarter
- International and Offshore Solutions rig counts expected near the midpoint of their guidance ranges
- All other guidance from the August 5, 2026 earnings release is unchanged
Read the filing on SEC.gov ↗
Sep 22, 4:04 PM ET
Helmerich & Payne's board ratified pay increases for CEO Trey Adams and CFO Todd Scruggs, effective October 1, 2026. Adams' base salary rises to $1,000,000 and Scruggs' to $570,000, with higher target bonus and equity award levels for fiscal 2027. The changes raise executive pay costs, but the filing discloses no financial results or performance effects.
- CEO Trey Adams' base salary increases to $1,000,000 effective October 1, 2026
- Adams' target bonus rises to 130% of base salary and target long-term equity award to 500% of base salary for fiscal 2027
- CFO Todd Scruggs' base salary increases to $570,000 effective October 1, 2026, with target bonus at 100% of base salary for fiscal 2027
- Board ratified the changes on September 16, 2026, based on Human Resources Committee approval
Read the filing on SEC.gov ↗
Aug 5, 4:21 PM ET
Helmerich & Payne reported third-quarter fiscal 2026 revenue of $1.035 billion, up from $932 million in the prior quarter but about even with $1.041 billion a year earlier. GAAP net income attributable to the company was $76 million, or $0.74 per diluted share, helped by a gain of approximately $115 million on the Utica Square sale; excluding select items, the company reported an adjusted loss of $(10) million, or $(0.11) per share.
- Revenue of $1.035 billion for the quarter ended June 30, 2026, versus $932 million in the March 2026 quarter and $1.041 billion in the June 2025 quarter.
- GAAP net income attributable to Helmerich & Payne of $76 million ($0.74 per diluted share), compared with a net loss of $(163) million a year earlier; adjusted loss of $(10) million ($(0.11) per share).
- Fourth-quarter direct margin guidance: North America Solutions $245-255 million, International Solutions $25-45 million, Offshore Solutions $26-30 million.
- CFO Todd Scruggs cited company-wide initiatives to increase efficiency, reduce cost, simplify the portfolio and accelerate deleveraging; long-term debt was $1.855 billion at June 30, 2026, down from $2.057 billion at September 30, 2025.
Read the filing on SEC.gov ↗
May 6, 4:29 PM ET
Helmerich & Payne reported a fiscal second-quarter net loss attributable to the company of $58.6 million, or $(0.59) per diluted share, compared with net income of $1.7 million a year earlier. Revenue fell to $932.4 million from $1,016.0 million a year earlier, and the loss included a $26.1 million asset impairment charge. CFO Kevin Vann is preparing to depart the company, a leadership change shareholders will track alongside the weaker results.
- Quarterly revenue of $932.4 million, down from $1,016.0 million a year earlier and $1,017.0 million in the prior quarter
- Net loss attributable to the company of $58.6 million, or $(0.59) per share, versus $0.01 per diluted share a year earlier; adjusted loss was $(0.38) per share
- North America Solutions operating income of $111.3 million, with direct margin of $215.2 million; third-quarter direct margin guidance is $230 million to $240 million for that segment
- CFO Kevin Vann is preparing to depart the organization; the CEO said he will work with Todd Scruggs on the company's next chapter
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.