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Helmerich & Payne Inc. Reports Operating Results (10-Q)

August 03, 2012 | About:
10qk

10qk

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Helmerich & Payne Inc. (HP) filed Quarterly Report for the period ended 2012-06-30.

Helmerich & Payne, Inc. has a market cap of $5.22 billion; its shares were traded at around $47.17 with a P/E ratio of 10 and P/S ratio of 2.1. The dividend yield of Helmerich & Payne, Inc. stocks is 0.6%. Helmerich & Payne, Inc. had an annual average earning growth of 21.1% over the past 10 years. GuruFocus rated Helmerich & Payne, Inc. the business predictability rank of 4.5-star.

Highlight of Business Operations:

U.S. Land segment operating income increased to $235.7 million for the third quarter of fiscal 2012 compared to $176.8 million in the same period of fiscal 2011. Revenues were $706.8 million and $539.4 million in the third quarter of fiscal 2012 and 2011, respectively. Included in U.S. land revenues for the three months ended June 30, 2012 and 2011 are reimbursements for out-of-pocket expenses of $89.3 million and $48.2 million, respectively.

International Land segment operating income for the third quarter of fiscal 2012 was approximately $6.3 million compared to an operating loss of $0.6 million in the same period of fiscal 2011. Included in International land revenues for the three months ended June 30, 2012 and 2011 are reimbursements for out-of-pocket expenses of $5.7 million and $4.1 million, respectively.

We reported income from continuing operations of $424.0 million ($3.88 per diluted share) from operating revenues of $2.3 billion for the nine months ended June 30, 2012, compared with income from continuing operations of $313.2 million ($2.87 per diluted share) from operating revenues of $1.8 billion for the first nine months of fiscal year 2011. For the first nine months of fiscal 2012 and 2011, we had a net loss from discontinued operations of $0.1 million and $0.4 million, respectively, with no effect on a per diluted share basis. Including discontinued operations, we recorded net income of $423.9 million ($3.88 per diluted share) for the nine months ended June 30, 2012, compared to net income of $312.8 million ($2.87 per diluted share) for the nine months ended June 30, 2011. Income from continuing operations for the first nine months of fiscal 2012 includes approximately $7.9 million ($0.08 per diluted share) of after-tax gains from the sale of assets. Income from continuing operations for the first nine months of fiscal 2011 includes approximately $6.4 million ($0.06 per diluted share) of after-tax gains from the sale of assets and $0.6 million ($0.01 per diluted share) of after-tax gains from the sale of investment securities.

U.S. Land segment operating income increased to $670.3 million for the first nine months of fiscal 2012 compared to $499.5 million in the same period of fiscal 2011. Revenues were $2.0 billion and $1.5 billion for the first nine months of fiscal 2012 and 2011, respectively. Included in U.S. land revenues for the nine months ended June 30, 2012 and 2011 are reimbursements for out-of-pocket expenses of $210.3 million and $133.8 million, respectively.

International Land segment operating income for the first nine months of fiscal 2012 was $13.2 million, compared to operating income of $16.2 million in the same period of fiscal 2011. Included in International land revenues for the nine months ended June 30, 2012 and 2011 are reimbursements for out-of-pocket expenses of $21.5 million and $15.8 million, respectively.

Read the The complete Report

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