Helmerich & Payne said it now expects fourth-quarter results to land at the high end of its earlier guidance for its three main operating segments, with direct margins in North America Solutions, International Solutions and Offshore Solutions all tracking at or near the top of their ranges.
The company said North America Solutions average rig count is also expected to be near the high end of guidance for fiscal fourth quarter 2026. International Solutions average rig count is expected to come in near the midpoint of its range, while Offshore Solutions average rig count and management contracts are also expected near the midpoint.
In International Solutions, the company singled out direct margins of about $45 million for the quarter, calling that performance “particularly notable.”
Management said all other financial guidance items from its Aug. 5 earnings release are unchanged.
Looking ahead to fiscal 2027, Helmerich & Payne said it expects stronger overall direct margins than in 2026, citing customer discussions and contracting activity across its global portfolio. The company said its North America business remains robust, while in International Solutions it expects Latin America growth to be partly offset by lower activity in the Middle East.
Chief Financial Officer Todd Scruggs said the company remains committed to reaching about 1 times net debt to adjusted EBITDA by the end of calendar 2027, while maintaining its base dividend. The market has reacted to these announcements by moving the company's shares -1.3% to a price of $39.61. If you want to know more, read the company's complete 8-K report here.
