Helmerich & Payne: Fiscal 4Q Earnings Snapshot
TULSA, Okla. (AP) _ Helmerich & Payne Inc. (HP) on Thursday reported fiscal fourth-quarter net income of $2.5 million, after reporting a loss in the same period a year earlier.
The Tulsa, Oklahoma-based company said it had profit of 2 cents per share. Earnings, adjusted for one-time gains and costs, came to 19 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The oil and gas well-drilling contractor posted revenue of $696.8 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $683.9 million.
For the year, the company reported net income of $482.7 million, or $4.37 per share, swinging to a profit in the period. Revenue was reported as $2.49 billion.
Helmerich & Payne shares have dropped 7 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 2 percent. In the final minutes of trading on Thursday, shares hit $60.04, an increase of 12 percent in the last 12 months.