Key Points – North America is improving: Helmerich & Payne said the second quarter likely marked the trough for North America rig count and margins, and it raised its third-quarter and full-year rig outlook as drilling demand improves.
Management pointed to tighter super-spec rig availability and activity from private E&P and smaller independents. – Middle East disruptions hurt international margins: Conflict-related costs, supply chain issues and rig suspensions in Iraq, Bahrain and Saudi Arabia weighed on International Solutions results, pushing direct margin to the low end of guidance
Even so, the company still expects to meet its annual international rig guidance, helped by growth in Latin America. – Balance sheet strength and technology expansion remain priorities: H&P used proceeds from the Utica Square sale to repay its remaining term loan and ended the quarter with about $1.15 billion in liquidity. The company is also expanding its FlexRobotics deployments and expects higher 2026 capex tied to activity growth and rig reactivations. – MarketBeat Week in Review – 03/30 – 04/03 Helmerich & Payne (NYSE:HP) said fiscal second-quarter results were supported by steady execution in North America and offshore operations, while conflict-related disruptions and supply chain constraints in the Middle East weighed on its international margins. President and CEO Trey Adams said adjusted EBITDA for the quarter was $178 million, which aligned with the lower end to midpoint of the company’s implied guidance.
Revenue totaled $932 million, according to Chief Financial Officer Kevin Vann. The company reported a net loss of $0.59 per diluted share, including about $26 million of non-cash impairment charges. Excluding those items, H&P generated a loss of $0.38 per share. – HP Inc.