LONDON, UK / ACCESSWIRE / February 02, 2018 / Active-Investors.com has just released a free earnings report on Helmerich & Payne, Inc. (NYSE: HP) ("Helmerich & Payne"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=HP. The Company posted its first quarter fiscal 2018 (Q1 FY18) financial results on January 25, 2018. The leading oil and gas well drilling contractors' revenue and earnings surpassed market expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Helmerich & Payne most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

During the first quarter of the fiscal year 2018, Helmerich & Payne posted net sales of $564.09 million compared to $368.59 million in Q1 FY17, reflecting an increase of 53.04%. Helmerich & Paynes' sales growth was primarily backed by the robust growth in its US Land segment. The Company's revenue numbers beat analysts' estimates of $538.00 million.

The Company's selling, general, and administrative expenses (SG&A) amounted to $46.55 million in the reported quarter versus $34.26 million in the year ago comparable period, increasing 35.86% on a y-o-y basis. The Company's operating profit was $3.52 million in Q1 FY18 compared to operating loss of $49.16 million in Q1 FY17.

Helmerich & Payne's net income was $500.11 million in the reported quarter compared to net loss of $35.06 million in Q1 FY17. The Company's earnings per share (EPS) were $4.55 in Q1 FY18 compared to loss per share of $0.33 in the first quarter of the previous fiscal year. Adjusted loss per share of the Company was $0.02 in the reported quarter. The outperformance was primarily driven by higher drilling activity at its biggest segment ? US Land. Adjusted loss was narrower than analysts' estimates of a loss of $0.14.

Segment Details

Helmerich & Payne has four business segments, namely: (i) US Land, (ii) Offshore, (iii) International land, and (iv) Other.

The US Land segment reported net sales of $461.64 million in Q1 FY18 compared to $263.64 million in Q1 FY17, reflecting growth of 75.11% compared to the year ago corresponding period. The growth was primarily attributable to an increase in quarterly revenue days and a higher average rig margin per day. The segment's operating income was $24.75 million in Q1 FY18 compared to operating loss of $30.89 million in Q1 FY17.

The Offshore segment posted net sales of $33.37 million in Q1 FY18 compared to $33.81 million in Q1 FY17, decreasing 1.32% on a y-o-y basis. The segment's operating income was $8.73 million in Q1 FY18 compared to $6.78 million in Q1 FY17, increasing 28.61% on a y-o-y basis.

The International Land segment's net sales decreased 7.08% to $63.21 million on a y-o-y basis in the reported quarter compared to $68.03 million in Q1 FY17. The segment's operating income was $3.53 million in Q1 FY18 compared to $0.83 million in Q1 FY17, soaring 328.36% on a y-o-y basis. The increase was primarily attributable to an increase in quarterly revenue days.

The Other segment reported net sales of $5.87 million in Q1 FY18 compared to $3.11 million in Q1 FY17, surging 88.59% compared to the year ago same period.

Cash Matters

As on December 31, 2017, Helmerich & Payne had cash and cash equivalents of $383.66 million compared to $825.89 million as on December 31, 2016. The Company's cash inflow from operating activities was $72.22 million in the reported quarter compared to a cash inflow of $74.37 million in Q1 FY17. On December 05, 2017, the Company's Board of Directors declared a regular quarterly cash dividend of $0.70 per share, payable on March 01, 2018.

On December 08, 2017, Helmerich & Payne continued to add to its Family of Solutions by acquiring Magnetic Variation Services, an industry leader in enhancing the accuracy of directional drilling and wellbore placement.

Outlook

For the second quarter of the fiscal year 2018, the Company is expecting US Land segment to rise by 3.00% to 4.00%. International Land segment to suffer a decrease of 4.00% in revenue days. Offshore segment's average rig margin per day to be around $11,500 and revenue days to fall 2.00%. For fiscal 2018, Helmerich & Payne projects a capital budget of $350.00 million.

Stock Performance Snapshot

February 01, 2018 - At Thursday's closing bell, Helmerich & Payne's stock advanced 1.28%, ending the trading session at $72.95.

Volume traded for the day: 1.46 million shares.

Stock performance in the last month ? up 11.63%; previous three-month period ? up 34.32%; past twelve-month period ? up 2.60%; and year-to-date ? up 12.86%

After yesterday's close, Helmerich & Payne's market cap was at $7.88 billion.

The stock has a dividend yield of 3.84%.

The stock is part of the Basic Materials sector, categorized under the Oil & Gas Drilling & Exploration industry. This sector was up 0.3% at the end of the session.

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