Every material Form 8-K Helmerich & Payne has filed with the SEC since November 13, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
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
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
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.
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
Helmerich & Payne said CFO Kevin Vann will retire effective June 30, 2026, and its board appointed Todd Scruggs, the company's Vice President, Corporate Finance and Treasurer, to succeed him as Senior Vice President and Chief Financial Officer effective July 1, 2026. The change follows the appointment of Trey Adams as President and CEO on March 4, 2026, and the filing says Vann's retirement is not the result of any disagreement with the company.
Kevin Vann informed the company on March 10, 2026 that he will retire as SVP and CFO effective June 30, 2026.
Todd Scruggs, who has been VP, Corporate Finance and Treasurer since November 2024, becomes SVP and CFO on July 1, 2026, with an annual base salary of $475,000 and a 90% target bonus for calendar 2026.
Vann will serve as a non-executive Senior Advisor from July 1 through December 31, 2026, at a $309,000 annual base salary, and receives a one-time $750,000 bonus payable in two parts.
At its annual meeting on March 4, 2026, Helmerich & Payne stockholders elected all ten director nominees to serve until the 2027 annual meeting and approved the Amended and Restated 2024 Omnibus Incentive Plan. The plan allows grants of stock options, restricted shares, share units and cash awards to officers, employees, consultants and non-employee directors. Stockholders also ratified Ernst & Young LLP as auditor and approved executive pay in an advisory vote.
Ten directors elected to serve until the Company's 2027 annual meeting; Donald F. Robillard, Jr. and John D. Zeglis were among them, with Randy A. Foutch receiving 70,902,402 votes for and 10,377,704 against
Amended and Restated 2024 Omnibus Incentive Plan approved: 76,288,754 votes for, 4,915,503 against, 155,481 abstentions
Ernst & Young LLP ratified as independent auditor for fiscal year ending September 30, 2026: 89,092,847 votes for, 3,179,499 against
Advisory vote on named executive compensation approved: 79,238,113 votes for, 1,941,021 against, 180,604 abstentions
Helmerich & Payne reported a fiscal first-quarter net loss of $97 million, or $0.98 per diluted share, for the quarter ended December 31, 2025, compared with a loss of $0.58 per share in the prior quarter and net income of $54.8 million, or $0.54 per diluted share, a year earlier. Revenue rose to $1.02 billion from $677.3 million a year earlier, but the loss reflects a $103 million non-cash impairment charge, and CEO John Lindsay plans to retire in March.
Net loss of $97 million, or $0.98 per share, including a $103 million non-cash impairment charge; adjusted loss was $14 million, or $0.15 per share
Operating revenues of $1.02 billion, compared with $1.01 billion in the prior quarter and $677.3 million a year earlier
Term loan repaid by $260 million of the $400 million balance as of end of January; full repayment expected by end of fiscal third quarter 2026
Second-quarter guidance: North America Solutions direct margin of $205 million to $230 million; International Solutions $12 million to $22 million; Offshore Solutions $20 million to $30 million
Helmerich & Payne CEO John Lindsay will retire as CEO and director after the March 4, 2026 Annual Meeting, and the Board has appointed President Raymond John "Trey" Adams III to succeed him. The filing says the retirement is not the result of any disagreement with the company on operations, policies or practices, and Lindsay will serve as a senior advisor through December 31, 2026 to support the transition.
Lindsay retires as CEO and director after the Annual Meeting on March 4, 2026.
Adams, 40, has been President since October 2025 and has worked at the company since 2008; the Board has nominated him for election to the Board at the Annual Meeting.
Lindsay will receive his base salary, a short-term cash incentive of 50% of his fiscal 2025 award for the first five months of fiscal 2026, and 77,818 restricted shares with a 1-year vesting period.
Helmerich & Payne reported a fiscal fourth-quarter net loss of $57 million, or $0.58 per diluted share, including $56 million of non-recurring charges. Excluding those and other one-time items, the adjusted net loss was $1 million, or $0.01 per share. The company also gave initial fiscal 2026 guidance, including capital expenditures of $280 million to $320 million, and said it has repaid $210 million of its $400 million term loan.
Q4 fiscal 2025 revenue of $1.01 billion, down from $1.04 billion in the prior quarter and up from $694 million a year earlier; the year-earlier quarter had net income of $75 million, or $0.76 per diluted share
Q3 fiscal 2025 net loss was $1.64 per diluted share, so the Q4 loss narrowed sequentially
Fiscal 2026 gross capital expenditures are expected at $280 million to $320 million, with NAS investments of $40 million to $60 million
Term loan repayment of $210 million as of the end of October; the company now expects to repay the full $400 million by the end of the third fiscal quarter of 2026
Helmerich & Payne appointed Senior Vice President Trey Adams as President effective October 1, 2025, while John Lindsay remains Chief Executive Officer. Mike Lennox and John Bell were also promoted to Executive Vice President roles, and the filing describes a new leadership structure with Adams leading all revenue-generating business units. The filing does not report financial results, but it sets out a reorganized senior team and related pay changes for shareholders to monitor.
Trey Adams, 40, becomes President effective October 1, 2025, succeeding John Lindsay in that role; Lindsay stays as CEO.
Adams' base salary rises to $660,000, with a target bonus of 100% of base salary for fiscal 2026.
Michael Lennox and John Bell become Executive Vice Presidents effective October 1, 2025, with base salaries of $560,000 each and restricted stock awards with a grant date value of $1 million each.
The company says Adams will be only the 5th President in its 105-year history.
Helmerich & Payne reported a fiscal third-quarter net loss of $163 million, or $1.64 per share, compared with net income of $0.01 per share in the prior quarter, after a $173 million non-cash goodwill impairment. Excluding this and other one-time items, earnings were $22 million, or $0.22 per share, and revenue rose to $1.04 billion from $1.02 billion in the prior quarter. The company also raised its fiscal 2025 gross capital expenditure estimate to $380-$395 million.
Q3 fiscal 2025 net loss of $163 million, or $1.64 per diluted share, versus $0.88 per diluted share in the year-earlier quarter
Operating revenues of $1.04 billion, up from $1.02 billion in the prior quarter
Q4 fiscal 2025 North America Solutions direct margin guidance of $230-$250 million
Term loan repayment expected to total $200 million by end of calendar 2025, up from the prior $175 million expectation
Helmerich & Payne reported fiscal second-quarter 2025 results for the quarter ended March 31, 2025, after completing its KCA Deutag acquisition on January 16, 2025. Operating revenues rose to $1.0 billion from $687.9 million a year earlier, but net income attributable to the company fell to $1.7 million, or $0.01 per diluted share, from $84.8 million, or $0.84 per diluted share. The company also expects third-quarter direct margin in each segment to be lower than the strong North America Solutions result, and it now targets $50 to $75 million in overall cost reductions.
Operating revenues were $1,016.0 million, compared with $687.9 million a year earlier and $677.3 million in the prior quarter.
Net income attributable to Helmerich & Payne was $1.7 million ($0.01 per diluted share), versus $84.8 million ($0.84 per diluted share) a year earlier; transaction and integration costs were $29.9 million.
Management expects overall cost structure reductions of $50 to $75 million, with the full impact recognized in fiscal 2026.
Third-quarter guidance includes North America Solutions direct margin of $235 million to $260 million and International Solutions direct margin of $25 million to $35 million.
Helmerich & Payne reported fiscal first-quarter 2025 net income of $55 million, or $0.54 per diluted share, on operating revenues of $677 million, down from $75 million, or $0.76 per share, on $694 million in the prior quarter. The company completed its KCA Deutag acquisition on January 16, 2025, adding about $5.5 billion in backlog and raising its Middle East contracted rig count from 11 to about 65, while the quarter included $0.17 per share in net after-tax losses from select items.
Net income of $55 million ($0.54 per diluted share) vs. $75 million ($0.76) in the quarter ended September 30, 2024; revenue of $677 million vs. $694 million
Net income included a net $(0.17) per share in after-tax select items, including $(0.08) of transaction and integration costs and $(0.10) of non-cash fair value losses on equity investments
KCA Deutag acquisition completed January 16, 2025, adding approximately $5.5 billion in backlog
Quarterly dividend of $0.25 per share declared December 11, 2024, payable February 28, 2025
Helmerich & Payne completed its acquisition of KCA Deutag International on January 16, 2025, for total consideration of approximately $897 million in cash, with about $80 million placed in escrow pending resolution of potential KCA Deutag tax obligations. In connection with the closing, KCA Deutag redeemed its outstanding notes and repaid revolving credit borrowings. The company says the deal expands its Middle East presence and scale, and it will provide an updated fiscal 2025 outlook with its first-quarter 2025 results.
Closing date January 16, 2025; total consideration of approximately $897 million in cash
About $80 million deposited in escrow pending resolution of potential KCA Deutag tax obligations
Redeemed KCA Deutag notes, including $500 million 9.875% Senior Secured Notes due 2025, and repaid about $50 million each under two revolving credit facilities
Updated fiscal 2025 outlook to come with first-quarter 2025 results; KCA Deutag CEO Joseph Elkhoury will not continue with H&P
Helmerich & Payne reported fiscal fourth-quarter 2024 net income of $75 million, or $0.76 per diluted share, on operating revenues of $694 million, down from $89 million, or $0.88 per share, on $698 million in the prior quarter. For fiscal 2024, net income was $344 million, or $3.43 per diluted share, compared with $434 million in fiscal 2023, and the company gave fiscal 2025 capital expenditure expectations of $290 million to $325 million, excluding the pending KCA Deutag acquisition.
Q4 fiscal 2024 net income was $75 million, or $0.76 per diluted share, versus $89 million, or $0.88 per share, in the prior quarter ended June 30, 2024
Q4 operating revenues were $694 million, compared with $698 million in the prior quarter
Fiscal 2024 net income was $344 million, or $3.43 per diluted share, versus $434 million in fiscal 2023
Fiscal 2025 capital expenditures are expected to range from $290 million to $325 million; quarterly dividend of $0.25 per share is payable December 2, 2024
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.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Helmerich & Payne filing is on SEC EDGAR ↗. 8-K briefs of other companies →