Helmerich & Payne Files Q1 2025 10-Q

TL;DR

HP's Q1 2025 10-Q is in. Check financials for oil & gas drilling performance.

AI Summary

Helmerich & Payne, Inc. filed its 10-Q for the period ending December 31, 2024. The filing covers the first quarter of their fiscal year 2025. Key financial data and operational details for this period are presented, reflecting the company's performance in the oil and gas drilling sector.

Why It Matters

This filing provides investors and analysts with a detailed look at Helmerich & Payne's financial health and operational performance during the first quarter of fiscal year 2025, crucial for understanding trends in the oil and gas drilling industry.

Risk Assessment

Risk Level: medium — The oil and gas industry is subject to significant price volatility and regulatory changes, which can impact a company like Helmerich & Payne.

Key Numbers

• 0.005 — Selling, General and Administrative Expense (Represents a specific expense category for the period.)
• 253 — Shares (Likely related to share count or per-share data.)

Key Players & Entities

• Helmerich & Payne, Inc. (company) — Filer of the 10-Q
• 2024-12-31 (date) — End of reporting period
• 2025-02-05 (date) — Filing date
• 2024-10-01 (date) — Start of reporting period

FAQ

Key Financial Figures

• $0.10 — ange on which registered Common Stock ($0.10 par value) HP New York Stock Exchange

Filing Documents

• hp-20241231.htm (10-Q) — 1260KB
• hp-20241231xexx102.htm (EX-10.2) — 82KB
• hp-20241231xexx103.htm (EX-10.3) — 71KB
• hp-20241231xexx104.htm (EX-10.4) — 41KB
• hp-20241231xexx311.htm (EX-31.1) — 8KB
• hp-20241231xexx312.htm (EX-31.2) — 8KB
• hp-20241231xexx32.htm (EX-32) — 6KB
• hp-20241231_g1.jpg (GRAPHIC) — 180KB
• hp-20241231_g2.jpg (GRAPHIC) — 2KB
• 0000046765-25-000008.txt ( ) — 8400KB
• hp-20241231.xsd (EX-101.SCH) — 57KB
• hp-20241231_cal.xml (EX-101.CAL) — 74KB
• hp-20241231_def.xml (EX-101.DEF) — 278KB
• hp-20241231_lab.xml (EX-101.LAB) — 706KB
• hp-20241231_pre.xml (EX-101.PRE) — 511KB
• hp-20241231_htm.xml (XML) — 1100KB

Financial Statements

Financial Statements 3 Unaudited Condensed Consolidated Balance Sheets as of December 31, 2024 and September 30, 202 4 3 Unaudited Condensed Consolidated Statements of Operations for the Three Months Ended December 31, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended December 31, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Shareholders' Equity for the Three Months Ended December 31, 2024 and 2023 6 Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months Ended December 31, 2024 and 2023 7 Notes to Unaudited Condensed Consolidated Financial Statements 8 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 27 Item 3 .

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 39 Item 4.

Controls and Procedures

Controls and Procedures 39 PART II. 39 Item 1.

Legal Proceedings

Legal Proceedings 39 Item 1A.

Risk Factors

Risk Factors 39 Item 5. Other Information 39 Item 6. Exhibits 40

SIGNATURES

SIGNATURES 41 Q1 FY25 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 December 31, September 30, (in thousands except share data) 2024 2024 ASSETS Current Assets: Cash and cash equivalents $ 391,179 $ 217,341 Restricted cash 73,216 68,902 Short-term investments 135,317 292,919 Accounts receivable, net of allowance of $ 2,720 and $ 2,977 , respectively 426,933 418,604 Inventories of materials and supplies, net 127,288 117,884 Prepaid expenses and other, net 70,898 76,419 Total current assets 1,224,831 1,192,069 Investments, net 101,652 100,567 Property, plant and equipment, net 3,009,360 3,016,277 Other Noncurrent Assets: Goodwill 45,653 45,653 Intangible assets, net 52,547 54,147 Operating lease right-of-use assets 67,510 67,076 Restricted cash 1,242,124 1,242,417 Other assets, net 72,944 63,692 Total other noncurrent assets 1,480,778 1,472,985 Total assets $ 5,816,621 $ 5,781,898 LIABILITIES & SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $ 148,752 $ 135,084 Dividends payable 25,154 25,024 Accrued liabilities 261,807 286,841 Total current liabilities 435,713 446,949 Noncurrent Liabilities: Long-term debt, net 1,781,674 1,782,182 Deferred income taxes 485,682 495,481 Other 166,771 140,134 Total noncurrent liabilities 2,434,127 2,417,797 Commitments and Contingencies (Note 12) Shareholders' Equity: Common stock, $ 0.10 par value, 160,000,000 shares authorized, 112,222,865 shares issued as of December 31, 2024 and September 30, 2024, and 99,186,843 and 98,755,412 shares outstanding as of December 31, 2024 and September 30, 2024, respectively 11,222 11,222 Preferred stock, no par value, 1,000,000 shares authorized, no shares issued — — Additional paid-in capital 501,516 518,083 Retained earnings 2,913,211 2,883,590 Accumulated other comprehensive loss ( 5,987 ) ( 6,350 ) Treasury stock, at cost, 13,036,022 shares and 13,467,453 shares as of December 31, 2024 and September 3

View Full Filing

View this 10-Q filing on SEC EDGAR