Coming off a second quarter where it completed a major $2 billion acquisition for its long-term international growth, Tulsa-based Helmerich & Payne plans a release of its third quarter financial results in the coming few weeks.
The firm will release the financial results on Thursday, August 7 and hold a conference call at 10 a.m. central time to discuss the fiscal results.
President and CEO John Lindsay and Senior Vice President and CFO Kevin Vann will lead the call. The earnings release and accompanying presentation will be available at hpinc.com. Investors can join the call via phone or audio webcast.
The second quarter results, released in May, highlighted the completion of the company’s acquisition of KCA Deutag. The deal, announced nearly a year ago, was completed in January 2025and involved an acquisition for $1.9725 billion in cash.
Other second quarter highlights included:
- H&P now expects to realize in excess of $25 million in expense synergies associated with the KCA Deutag acquisition; additionally we have identified further permanent cost savings that when aggregated with the synergies, we would expect the overall cost structure to be reduced by $50 to $75 million
- Reported net income of $1.7 million, or $0.01 per diluted share, from operating revenues of $1.0 billion for the quarter ended March 31, 2025
- Continued strong performance in the North America Solutions segment with operating income of $152 million, realizing associated direct margin(1) per day of $19,800 with total direct margin of $266 million during the quarter
- Net cash provided by operating activities of $56.0 million during the fiscal second quarter
- The Company reported fiscal second quarter Adjusted EBITDA(2) of $242 million
- The Company repaid $25 million on its existing $400 million term loan funded at the close of the acquisition during the second fiscal quarter of 2025, and expects to repay approximately $175 million in calendar 2025
- Returned approximately $25 million to shareholders as part of the Company’s ongoing dividend program
