Helmerich & Payne reports Q4 EPS 77c, consensus 75c

Reports Q4 revenue $659.61M, consensus $664.85M. President and CEO John Lindsay commented, “The cyclical and often volatile nature of the energy industry creates a unique set of challenges for a company. Fiscal 2023 was no exception in that regard. Rig demand was impacted by geopolitical and economic uncertainties influencing the global crude oil market, and warm winter weather was largely the culprit behind the volatility seen in the U.S. natural gas market. However, H&P’s long operational experience combined with our differentiated actions during the fiscal year, primarily our emphasis on customer value creation and contract economics over market share, enabled the Company to rise to meet these challenges by quickly adapting to new market conditions, and maintain focus on achieving reasonable economic returns.”