Helmerich and Payne to release earnings report


Make a note. Helmerich & Payne plans to release its first quarter 2024 earnings report at the end of the month.

The Tulsa company announced it will hold a conference call on Tuesday, January 30 at 10 a.m. central time. The call will feature John Lindsay, President and CEO, Mark Smith, Senior Vice President and CFO, and Dave Wilson, Vice President of Investor Relations. Investors may listen to the conference call either by phone or audio webcast.

The firm reported fourth quarter net income of $78 million or 77 cents a share from $660 million in operating revenues. It was a decline from the $95 million or 93 cents a share from operating reveues of $724 million for the quarter that ended June 30, 2023.

Company President and CEO John Lindsay admitted it had been a challenging year.

“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.”