Helmerich & Payne Inc. (HP) revealed a profit for second quarter that decreased from the same period last year and missed the Street estimates.
The company's bottom line totaled $1.65 million, or $0.01 per share. This compares with $84.83 million, or $0.84 per share, last year.
Excluding items, Helmerich & Payne Inc. reported adjusted earnings of $1.86 million or $0.02 per share for the period.
Analysts on average had expected the company to earn $0.62 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 47.7% to $1.016 billion from $687.94 million last year.
Helmerich & Payne Inc. earnings at a glance (GAAP) :
-Earnings: $1.65 Mln. vs. $84.83 Mln. last year.-EPS: $0.01 vs. $0.84 last year.-Revenue: $1.016 Bln vs. $687.94 Mln last year.
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