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Sep 30, 2025
Helmerich & Payne Q4 2025 Earnings Report
Helmerich & Payne reported a net loss in Q4 2025 despite strong margin performance in North America Solutions.
Key Takeaways
The company posted a modest adjusted loss this quarter, while maintaining leading margins in North American land drilling and reactivating rigs internationally.
North America Solutions reported $118M in operating income, leading the segment performance.
Adjusted EPS was $(0.01), with GAAP EPS at $(0.58) due to non-recurring charges.
Consolidated adjusted EBITDA reached $225M for the quarter.
Offshore Solutions achieved record direct margin of $35M with higher rig utilization.
Revenue by Segment
Forward Guidance
Management expects stable North American operations, increased international activity, and lower capital expenditures in fiscal 2026.
Positive Outlook
- Seven rigs to resume operations in Saudi Arabia by mid-2026
- Full repayment of $400M term loan expected by Q3 FY26
- Reduced capital expenditure guidance compared to FY25
- Lower general and administrative expenses projected for FY26
- International rig count expected to grow with resumed demand
Challenges Ahead
- International Solutions segment still reporting losses
- Adjusted EPS remains near breakeven, indicating margin pressure
- Ongoing restructuring and integration costs
- Reduced NAS operating income compared to previous quarter
Historical Earnings Impact
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Avg. Return Before/After Earnings
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