Helmerich & Payne (HP) Tops Q1 Earnings And Sales Estimates

Zacks Investment Research | Jan 29, 2019 09:45PM ET

Helmerich & Payne Inc. (NYSE:HP) recently released fiscal first-quarter 2019 results, wherein it delivered a comprehensive beat on the back of better-than-expected revenues from the U.S. Land business along with greater-than anticipated profits from the International Land segment.

The company posted quarterly earnings of 32 cents a share, surpassing the Zacks Consensus Estimate of 28 cents. Importantly, profits from the international segment totaled $6.6 million in the quarter under review vis-à-vis the consensus estimate of $3 million. Markedly, the bottom line also witnessed a massive turnaround from the year-ago loss of 2 cents a share. Improved performance at its largest segment — U.S. Land — backed by higher revenues and margins led to the robust results.

Revenues of $740.6 million outpaced the Zacks Consensus Estimate of $716 million. Operating revenues from the U.S. Land unit came in at $624.3 million, surpassing the Zacks Consensus Estimate of $613 million. The top line also surged around 31% from the year-ago level.

Helmerich & Payne, Inc. Price, Consensus and EPS Surprise

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Written By: Zacks Investment Research

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