Will increased drilling help Helmerich and Payne in coming 4Q report?

Helmerich & Payne Inc.: Back In The Game (NYSE:HP) | Seeking Alpha

 

Tulsa-based Helmerich & Payne Inc. plans to release its fourth quarter 2021 earnings report in mid-November as investors wonder if the company might end at least two consecutive quarters of improved losses.

The company announced it will hold a conference call on Thursday, Nov. 18 at 10 a.m. central time.

John Lindsay, President and CEO, Mark Smith who is Senior Vice President and CFO and Dave Wilson, Vice President of Investor Relations will lead the call and offer comments about the quarterly financial results.

In the third quarter, Helmerich & Payne reported a $56 million net loss or 52 cents a diluted share. It compared to a net loss of $131 million or $1.13 per share for the quarter that ended March 31, 2021.

The company came out of the third quarter in late July with a $31 million increase in revenues to $281 million. Its rig activity was up 10% over the previous quarter with 121 active rigs in the field.

The firm ended the third quarter with $558 million in cash and short-term investments and no amounts drawn on its $750 million revolving credit facility. It had $1.3 billion in available liquidity.