Helmerich & Payne Inc. (HP) said its first-quarter net income dipped to $63.23 million or $0.59 per share from $145.27 million or $1.36 per share last year. On average, 19 analysts polled by Thomson Reuters expected earnings per share of $0.50 for the quarter. Analysts' estimate typically excludes one-time items.
The company said that included in both this year's and last year's first quarter net income are less than $0.01 per share of gains from the sale of drilling equipment and involuntary conversion of long lived assets.
Operating revenues for the recent quarter totaled $399.84 million compared with $623.75 million during last year's first fiscal quarter ended December 31, 2008. Eleven analysts estimated revenues of $378.62 million for the quarter.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.