Helmerich & Payne Files Q3 2024 10-Q
Ticker: HP · Form: 10-Q · Filed: Jul 25, 2024 · CIK: 46765
Sentiment: neutral
Topics: 10-Q, financials, oil and gas
TL;DR
HP's Q3 10-Q is in: financials and ops detailed for investors.
AI Summary
Helmerich & Payne, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported financial results for the third quarter of fiscal year 2024, detailing its operational performance and financial position. Key financial data and operational metrics were disclosed in this filing.
Why It Matters
This filing provides investors with a detailed look at Helmerich & Payne's financial health and operational performance during the third quarter, impacting investment decisions.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal significant financial or operational risks.
Key Numbers
- 2024-06-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 2024-07-25 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
- 09/30 — Fiscal Year End (Specifies the end date of Helmerich & Payne's fiscal year.)
Key Players & Entities
- Helmerich & Payne, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 20240725 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on July 25, 2024.
What is the company's Central Index Key (CIK)?
Helmerich & Payne, Inc.'s Central Index Key (CIK) is 0000046765.
What is the Standard Industrial Classification (SIC) code for Helmerich & Payne?
The SIC code for Helmerich & Payne is 1381, which corresponds to Drilling Oil & Gas Wells.
What is the company's fiscal year end?
Helmerich & Payne's fiscal year ends on September 30.
Filing Stats: 4,761 words · 19 min read · ~16 pages · Grade level 14 · Accepted 2024-07-25 09:45:49
Key Financial Figures
- $0.10 — ange on which registered Common Stock ($0.10 par value) HP New York Stock Exchange
Filing Documents
- hp-20240630.htm (10-Q) — 1807KB
- hp-20240630xexx311_xhammer.htm (EX-31.1) — 8KB
- hp-20240630xexx312_hammer.htm (EX-31.2) — 8KB
- hp-20240630xexx32_hammer.htm (EX-32) — 6KB
- hp-20240630_g1.jpg (GRAPHIC) — 180KB
- hp-20240630_g2.jpg (GRAPHIC) — 2KB
- 0000046765-24-000045.txt ( ) — 9363KB
- hp-20240630.xsd (EX-101.SCH) — 55KB
- hp-20240630_cal.xml (EX-101.CAL) — 75KB
- hp-20240630_def.xml (EX-101.DEF) — 259KB
- hp-20240630_lab.xml (EX-101.LAB) — 702KB
- hp-20240630_pre.xml (EX-101.PRE) — 499KB
- hp-20240630_htm.xml (XML) — 1492KB
Financial Statements
Financial Statements 3 Unaudited Condensed Consolidated Balance Sheets as of June 30, 2024 and September 30, 202 3 3 Unaudited Condensed Consolidated Statements of Operations for the Three and Nine Months Ended June 30, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended June 30, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Shareholders' Equity for the Three and Nine Months Ended June 30, 2024 and 2023 6 Unaudited Condensed Consolidated Statements of Cash Flows for the Nine Months Ended June 30, 2024 and 2023 8 Notes to Unaudited Condensed Consolidated Financial Statements 9 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 3 .
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 45 Item 4.
Controls and Procedures
Controls and Procedures 45 PART II. 45 Item 1.
Legal Proceedings
Legal Proceedings 45 Item 1A.
Risk Factors
Risk Factors 45 Item 5. Other Information 49 Item 6. Exhibits 49
SIGNATURES
SIGNATURES 50 Q3 FY24 FORM 10-Q | 2 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS HELMERICH & PAYNE, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS June 30, September 30, (in thousands except share data) 2024 2023 ASSETS Current Assets: Cash and cash equivalents $ 203,633 $ 257,174 Restricted cash 78,369 59,064 Short-term investments 86,088 93,600 Accounts receivable, net of allowance of $ 2,377 and $ 2,688 , respectively 415,395 404,188 Inventories of materials and supplies, net 115,312 94,227 Prepaid expenses and other, net 71,522 97,727 Assets held-for-sale — 645 Total current assets 970,319 1,006,625 Investments 292,229 264,947 Property, plant and equipment, net 3,014,345 2,921,695 Other Noncurrent Assets: Goodwill 45,653 45,653 Intangible assets, net 55,752 60,575 Operating lease right-of-use assets 57,315 50,400 Other assets, net 49,369 32,061 Total other noncurrent assets 208,089 188,689 Total assets $ 4,484,982 $ 4,381,956 LIABILITIES & SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $ 158,896 $ 130,852 Dividends payable 42,045 25,194 Accrued liabilities 255,851 262,885 Total current liabilities 456,792 418,931 Noncurrent Liabilities: Long-term debt, net 545,589 545,144 Deferred income taxes 494,412 517,809 Other 131,344 128,129 Total noncurrent liabilities 1,171,345 1,191,082 Commitments and Contingencies (Note 11) Shareholders' Equity: Common stock, $ 0.10 par value, 160,000,000 shares authorized, 112,222,865 shares issued as of June 30, 2024 and September 30, 2023, and 98,755,412 and 99,426,526 shares outstanding as of June 30, 2024 and September 30, 2023, respectively 11,222 11,222 Preferred stock, no par value, 1,000,000 shares authorized, no shares issued — — Additional paid-in capital 510,379 525,369 Retained earnings 2,833,136 2,707,715 Accumulated other comprehensive loss ( 8,499 ) ( 7,981 ) Treasury stock, at cost, 13,467,453 shares and 12,796,339 shares as of June 30, 2024 and September 30, 2023, respectively ( 489,393 ) ( 464,382