Helmerich & Payne, Inc.

Listed Company

HPCIK 0000046765NYSELarge AcceleratedDrilling Oil & Gas WellsDelawareFY ends Sep 30

Period

FY 2025

Revenue

$3.75B

Net Income

$-163.69M

Total Assets

$6.71B

Equity

$2.83B

Shares Out

99.85M

Op. Cash Flow

$542.95M

Business

Helmerich & Payne, Inc. provides performance-driven drilling solutions and technologies to make hydrocarbon recovery safer and more economical, focusing primarily on the drilling segment for oil and gas exploration and production companies. It offers land and offshore drilling services, technology-enabled automation and wellbore placement solutions, rig manufacturing and engineering through BENTEC™, and supporting services including real estate and captive insurance. Its reportable segments consist of North America Solutions, International Solutions, Offshore Solutions and Other (BENTEC™, real estate and captive insurers). It operates across North America, the Middle East, Latin America, Europe, Africa and international offshore markets through contracted rigs and management contracts.

Summary from filing dated 2025-11-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Drilling services	3,679	2,746	2,863	2,050	1,211
Other	67	10	10	9	8
Total operating revenues	3,746	2,757	2,872	2,059	1,219
Drilling services operating expenses, excluding depreciation and amortization	2,511	1,625	1,709	1,427	953
Other operating expenses	56	4	4	5	5
Depreciation and amortization	625	397	382	403	420
Research and development	34	41	30	27	22
Selling, general and administrative	287	245	207	182	172
Acquisition transaction costs	55	15	0	0	—
Asset impairment charges	194	0	12	4	71
Restructuring charges	12	0	0	838,000	6
Gain on reimbursement of drilling equipment	−33	−33	−48	−29	−12
Other loss on sale of assets	2	5	8	−5	11
Total operating costs and expenses	3,743	2,299	2,304	2,014	1,647
OPERATING INCOME	3	457	568	45	−429
Interest and dividend income	35	41	28	18	10
Interest expense	−108	−29	−17	−19	—
Gain (loss) on investment securities	−22	14	11	58	7
Foreign currency exchange loss	−10	−6	−6	—	—
Other	27	3	9	−11	6
Total other income (expense)	−77	24	25	−14	−1
Income (loss) before income taxes	−74	481	593	31	−430
Income tax expense	86	137	159	24	−104
NET INCOME (LOSS)	−160	344	434	—	—
Net income attributable to non-controlling interest	4	0	0	—	—
NET INCOME (LOSS) ATTRIBUTABLE TO HELMERICH & PAYNE, INC.	−164	344	434	7	−326
Basic (in dollars per share)	−1.66	3.43	4.18	0.05	−3.04
Diluted (in dollars per share)	−1.66	3.43	4.16	0.05	−3.04
Basic (in shares)	99	99	102	106	108
Diluted (in shares)	99	99	103	107	108

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Cash and cash equivalents	197	217	257	232	918
Restricted cash	27	69	59	36	18
Short-term investments	21	293	94	117	199
Accounts receivable, net of allowance of $19,647 and $2,977, respectively	783	419	404	459	229
Inventories of materials and supplies, net	324	118	94	88	84
Prepaid expenses and other, net	98	76	98	66	68
Assets held-for-sale	15	0	645,000	4	71
Total current assets	1,465	1,192	1,007	1,003	1,587
Investments, net	68	101	265	219	135
Property, plant and equipment, net	4,313	3,016	2,922	2,961	3,127
Goodwill	183	46	46	46	46
Intangible assets, net	486	54	61	67	74
Operating lease right-of-use assets	124	67	50	39	49
Restricted cash	2	1,242	0	—	—
Other assets, net	65	64	32	21	16
Total other noncurrent assets	859	1,473	189	173	185
Total assets	6,706	5,782	4,382	4,356	5,034
Accounts payable	218	135	131	127	72
Dividends payable	25	25	25	27	27
Accrued liabilities	565	287	263	241	283
Current portion of long-term debt, net	7	0	—	0	483
Total current liabilities	815	447	419	395	866
Long-term debt, net	2,057	1,782	545	543	542
Deferred income taxes	624	495	518	538	563
Retirement benefit obligation	110	7	—	—	—
Other	271	134	128	115	148
Total noncurrent liabilities	3,062	2,418	1,191	1,195	1,255
Commitments and Contingencies (Note 16)	—	—	—	—	—
Common stock, $0.10 par value, 160,000,000 shares authorized, 112,222,865 shares issued as of September 30, 2025 and 2024, and 99,446,577 and 98,755,412 shares outstanding as of September 30, 2025 and 2024, respectively	11	11	11	11	11
Preferred stock, no par value, 1,000,000 shares authorized, no shares issued	0	0	0	0	0
Additional paid-in capital	513	518	525	528	530
Retained earnings	2,619	2,884	2,708	2,474	2,573
Accumulated other comprehensive income (loss)	45	−6	−8	−12	−20
Treasury stock, at cost, 12,776,288 shares and 13,467,453 shares as of September 30, 2025 and 2024, respectively	−464	−489	−464	−236	−182
Non-controlling interest	105	0	—	—	—
Total shareholders equity	2,829	2,917	2,772	2,765	—
Total liabilities and shareholders' equity	6,706	5,782	4,382	4,356	5,034

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Amortization of debt discount and debt issuance costs	6	11	1	1	1
Stock-based compensation	32	31	32	28	28
Deferred income tax benefit	−79	−23	−20	−28	−90
Other	14	5	9	7	3
Accounts receivable	−49	−11	56	−236	−28
Inventories of materials and supplies	−27	−21	−8	−5	20
Prepaid expenses and other	42	3	−2	6	−21
Other noncurrent assets	−11	−21	−11	3	3
Accounts payable	−21	−2	4	53	31
Accrued liabilities	−75	17	−10	45	34
Other noncurrent liabilities	62	−4	5	−22	−1
Net cash provided by operating activities	543	685	834	234	136
Capital expenditures	−426	−495	−395	−251	−82
Purchase of short-term investments	−117	−201	−181	−165	−315
Purchase of long-term investments	−3	−9	−21	−51	−103
Payment for acquisition of business, net of cash acquired	−1,836	0	0	—	0
Proceeds from sale of short-term investments	378	204	195	245	208
Proceeds from sale of long-term investments	32	0	0	22	0
Insurance proceeds from involuntary conversion	2	6	9	0	0
Proceeds from asset sales	46	46	70	62	44
Other	−1	−10	0	−8	0
Net cash used in investing activities	−1,925	−459	−323	−167	−162
Dividends paid	−101	−168	−201	−107	−109
Distributions to non-controlling interests	−15	0	0	—	—
Proceeds from debt issuance	400	1,248	0	0	549
Debt issuance costs	−3	−23	0	0	−4
Payments for employee taxes on net settlement of equity awards	−11	−12	−14	−6	−2
Payment of contingent consideration from acquisition of business	0	−6	−250,000	−250,000	−7
Payments on unsecured long-term debt	−200	0	0	−487	0
Share repurchases	0	−51	−247	−77	0
Other	−4	0	−540,000	−587,000	−719,000
Net cash provided by (used in) financing activities	67	987	−464	−734	426
Effect of exchange rate changes on cash, cash equivalents and restricted cash	13	0	0	—	—
Net increase (decrease) in cash and cash equivalents and restricted cash	−1,303	1,212	47	−668	400
Interest paid	82	16	17	19	27
Income tax paid	206	181	199	18	1
Income tax received	−201,000	−1	−27	−62,000	−34
Payments for operating leases	57	13	12	11	17
Changes in accounts payable and accrued liabilities related to purchases of property, plant and equipment	12	−20	−3	−2	−2

Filings

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