The earnings call demonstrated strong performance in fiscal 2024 with significant achievements in safety, customer satisfaction, and international expansion. However, challenges like the suspension of KCA Deutag rigs and a flat North American rig count outlook pose potential risks. The company's strategic focus on maintaining a strong financial position and reducing emissions was positive.

Company Guidance

During the Helmerich & Payne Q4 2024 earnings call, the company provided several key metrics and forward-looking guidance. The North America Solutions segment saw an increase in rig count, exiting the quarter with 151 rigs, contributing to a 28% market share. Despite a 5% industry-wide rig count decline, H&P maintained healthy direct margins, expected to remain flat in the upcoming quarter. The company anticipates its rig count to stay flat to slightly up in the first half of 2025, potentially trending down later, with a current revenue backlog of $700 million for North American solutions. Internationally, H&P delivered five of eight FlexRigs to Saudi Arabia, with the first rig operational for Aramco, an effort aligned with their strategic acquisition of KCA Deutag, expected to close by December or January. The acquisition aims to strengthen H&P's global presence and diversify revenue streams, despite KCA's recent rig suspensions in Saudi. H&P's fiscal 2025 projections include a capital expenditure of $290-$325 million, a 40% decrease from 2024, aimed at reducing debt, alongside maintaining a base dividend of approximately $100 million. The company generated $169 million in operating cash flow in Q4 2024, totaling $685 million for the year, supporting these strategic initiatives.

Strong Fiscal Year 2024 Performance

H&P delivered a strong fiscal year 2024, leading the industry in safety, customer satisfaction, and margin generation. The company achieved a slight increase in North America solutions rig count amidst a 5% industry decline, growing its market share to approximately 28%.

International Solutions Growth

Significant progress in International Solutions with the delivery of 5 of 8 FlexRigs in Saudi Arabia and the commencement of operations for Aramco. The acquisition of KCA Deutag is expected to position H&P as a global drilling leader.

Financial Metrics

Generated $694 million in revenue for Q4 2024 and $685 million in operating cash flow during the fiscal year. The company maintained a strong balance sheet with approximately $1.5 billion in liquidity.

Reduction in CapEx for 2025

Fiscal 2025 gross capital expenditures are expected to decrease by 40%, freeing up substantial cash for debt reduction.

GHG Emissions Reduction

Successfully reduced potential safety incidents by approximately 17% year-over-year and decreased normalized GHG emissions by over 10%.

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Helmerich & Payne (HP) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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HP Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 03, 2025	2025 (Q1)	0.69 / -	0.97	―	―	―
Nov 13, 2024	2024 (Q4)	0.80 / 0.76	0.69	10.14% (+0.07)	―
Jul 24, 2024	2024 (Q3)	0.77 / 0.92	1.09	-15.60% (-0.17)	―
Apr 24, 2024	2024 (Q2)	0.85 / 0.84	1.55	-45.81% (-0.71)	―
Jan 29, 2024	2024 (Q1)	0.73 / 0.97	1.11	-12.61% (-0.14)	―
Nov 08, 2023	2023 (Q4)	0.72 / 0.69	0.45	53.33% (+0.24)	―
Jul 26, 2023	2023 (Q3)	0.90 / 1.09	0.27	303.70% (+0.82)	―
Apr 26, 2023	2023 (Q2)	1.06 / 1.55	-0.17	1011.76% (+1.72)	―
Jan 30, 2023	2023 (Q1)	0.82 / 1.11	-0.45	346.67% (+1.56)	―
Nov 16, 2022	2022 (Q4)	0.47 / 0.45	-0.62	172.58% (+1.07)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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HP Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 13, 2024	$35.93	$33.69	-6.23%
Jul 24, 2024	$37.02	$40.26	+8.75%
Apr 24, 2024	$41.15	$39.22	-4.69%
Jan 29, 2024	$34.78	$38.96	+12.02%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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