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Helmerich & Payne
Helmerich & Payne (HP) investor relations material
Helmerich & Payne Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary5 Feb, 2026
Executive summary
Adjusted EBITDA for the quarter was $230 million, exceeding expectations, with strong performance in North America, offshore, and international segments, and margin improvements in Saudi Arabia and the Jafurah Gas Field.
Revenue surpassed $1 billion for the third consecutive quarter, driven by robust execution and a significant acquisition.
Net loss of $97 million, or $0.98 per share, primarily due to a $103 million non-cash impairment charge and higher expenses from acquisition.
CEO transition from John Lindsay to Trey Adams, with a focus on continuity, innovation, and global expansion.
FlexRobotics Technology successfully deployed in the Permian Basin, with plans for broader rollout and growing customer interest.
Financial highlights
Revenue for the quarter was $1.02 billion, with free cash flow at $126 million and capital expenditures between $57 million and $68 million.
Adjusted EBITDA margin was 22–23%, and free cash flow conversion reached 55%.
Net loss attributable to the company was $97 million, with adjusted net loss at $14–$16 million after excluding non-recurring items.
$260 million of a $400 million term loan was repaid by January, with full repayment targeted by end of Q3 2026.
$25 million returned to shareholders via dividends during the quarter.
Outlook and guidance
North America Solutions direct margin expected between $205 million and $230 million in Q2, with 132–138 contracted rigs.
International Solutions margin guidance for Q2 is $12 million–$30 million, reflecting reactivation costs; margins expected to materially improve in Q3 and Q4.
Offshore Solutions margin guidance for Q2 is $20 million–$30 million, with full-year guidance of $100 million–$115 million.
2026 gross capital expenditure budget trimmed to $270 million–$310 million, a 30%+ reduction vs. FY'25.
Free cash flow expected to remain strong, supporting further debt reduction and dividends.
FlexRobotics adoption outlook and fleet expansion
International Solutions path to profitability
Post-debt repayment capital allocation strategy
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Next Helmerich & Payne earnings date
Q2 20267 May, 2026
Helmerich & Payne
Next Helmerich & Payne earnings date
Q2 20267 May, 2026
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Frequently asked questions
Helmerich & Payne Inc provides contract drilling services for oil and gas exploration and production companies. It operates a fleet of land rigs and offshore platforms primarily in North America and select international markets. The company is headquartered in Tulsa, Oklahoma, and its shares are listed on the NYSE.
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