Helmerich & Payne expects ~$45M international direct margin
HP remains committed to approximately 1x net debt to adjusted EBITDA by calendar year-end 2027 while maintaining its base dividend.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Helmerich & Payne, Inc. (HP) expects fiscal fourth-quarter 2026 direct margins in North America Solutions, International Solutions and Offshore Solutions to be at or near the high end of prior guidance; International Solutions direct margin is expected to be around $45 million. North America’s average rig count is expected near the high end of guidance, while International’s average rig count and Offshore’s average rig count and management contracts are expected near the midpoint.
All other financial guidance from August 5, 2026, is unchanged. For fiscal 2027, management expects stronger overall direct margins than in fiscal 2026, with Latin America growth partly offset by near-term activity reductions in the Middle East. The preliminary estimates remain subject to completion of financial closing procedures; the company said its independent auditor has not performed procedures on the preliminary data. Direct margin is a non-GAAP measure.
Filing Explained
Management says it remains committed to reaching approximately 1x net debt to adjusted EBITDA by
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
International Solutions direct margin: Around $45 million
Net debt to adjusted EBITDA target: Approximately 1x
Preliminary results period: Fiscal quarter and year ended September 30, 2026
3 metrics
International Solutions direct margin
Around $45 million
Expected for fiscal fourth quarter 2026
Net debt to adjusted EBITDA target
Approximately 1x
Target by calendar year-end 2027
Preliminary results period
Fiscal quarter and year ended September 30, 2026
Operational and financial update
Key Terms
direct margin, non-GAAP, adjusted EBITDA
3 terms
direct margin financial
"Direct margin, which is considered a non-GAAP metric"
Direct margin measures the profit left from sales after subtracting the costs that can be traced directly to producing those goods or services — for example raw materials, production labor, and shipping. Think of it as the money remaining from the price a customer pays once the immediate costs of making and delivering the item are covered; investors use it to see how efficiently a company turns sales into cash before overhead and other indirect expenses.
non-GAAP financial
"Direct margin, which is considered a non-GAAP metric"
Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.
adjusted EBITDA financial
"approximately 1x net debt to adjusted EBITDA"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Earnings Snapshot
North America Solutions direct margin: At or near the high end of previously issued fiscal 4Q 2026 guidance · Guidance included
Fourth fiscal quarter and fiscal year ended September 30, 2026
North America Solutions direct margin
At or near the high end of previously issued fiscal 4Q 2026 guidance
International Solutions direct margin
Around $45 million
At or near the high end of previously issued fiscal 4Q 2026 guidance
Offshore Solutions direct margin
At or near the high end of previously issued fiscal 4Q 2026 guidance
Guidance
North America Solutions average rig count is expected near the high end of guidance; International Solutions average rig count and Offshore Solutions average rig count and management contracts are expected near the midpoint. All other financial guidance from August 5, 2026, is unchanged.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much direct margin does HP expect from International Solutions in fiscal Q4 2026?
Helmerich & Payne expects International Solutions direct margin of around $45 million in fiscal fourth quarter 2026, with direct margins across all three operating segments expected at or near the high end of prior guidance. The preliminary estimates remain subject to completion of financial closing procedures.
What is HP’s net debt to adjusted EBITDA target?
HP said it remains committed to reaching approximately 1x net debt to adjusted EBITDA by calendar year-end 2027 while maintaining its base dividend.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 7, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of principal executive offices and zip code)
(918 ) 742-5531
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On October 7, 2026, Helmerich & Payne, Inc. (the "Company") issued a press release announcing, among other things, certain financial and operating guidance for its fourth fiscal quarter and year ended September 30, 2026.
A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference into this Item 2.02. This information is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
| Exhibit Number | DESCRIPTION | ||||
| 99.1 | Helmerich & Payne, Inc. press release dated October 7, 2026. | ||||
| 104 | Cover page Interactive Data File - the cover page XBRL tags are embedded within the inline XBRL document. | ||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| HELMERICH & PAYNE, INC. | |||||||||||
| By: | /s/ William H. Gault | ||||||||||
| Name: | William H. Gault | ||||||||||
| Title: | Corporate Secretary Date: October 7, 2026 | ||||||||||
Exhibit 99.1 | |||||
NEWS RELEASE
H&P PROVIDES FOURTH QUARTER FINANCIAL & OPERATIONAL UPDATE
TULSA, Okla. – October 7, 2026 – Helmerich & Payne, Inc. (NYSE: HP) currently expects to report strong operational and segment financial results for the quarter, with direct margins(1) for its North America Solutions, International Solutions, and Offshore Solutions businesses all at or near the high-end of the previously issued guidance ranges for fiscal 4Q 2026.(2)
In terms of activity, North America Solutions average rig count is expected to be near the high-end of the previously issued fiscal 4Q 2026 guidance range, International Solutions average rig count is anticipated to be near the midpoint of the guidance range, and Offshore Solutions average rig count and management contracts are expected to come in near the midpoint of the guidance range.
All other financial guidance items included in the company’s August 5, 2026, earnings release are unchanged.
Management Commentary
“I am very proud of the performance of our teams during fiscal 2026, with strong performance through year end,” said President and CEO Trey Adams. “We expect to report direct margins at or near the high end of our guidance range in our principal operating segments. The performance of our International Solutions segment is particularly notable, as we expect to report direct margins of around $45 million during the quarter.
“As we head into fiscal 2027, we maintain a constructive outlook, with encouraging customer discussions and contracting activity across our global portfolio leading to an expectation of stronger overall direct margins compared to 2026.
“In North America Solutions, we expect our activity levels to remain robust, and we are seeing a continuation of the strong commercial trends experienced in recent quarters. In International Solutions, we anticipate strong growth in Latin America to be partially offset by near-term activity reductions in the Middle East.
“We remain convinced that recent market volatility reinforces the importance of energy security and reliable supply while presenting a unique opportunity for H&P to deliver high-performance drilling solutions across our global portfolio. We are excited about the opportunities ahead of us and expect to deliver strong results in fiscal 2027.”
“Despite the ongoing conflict in the Middle East and related operational disruptions, we are excited about the strength of our North America Solutions segment, the diversity of our International Solutions portfolio, and the ongoing consistency of our Offshore Solutions business,” Senior Vice President and Chief Financial Officer Todd Scruggs added. “We remain committed to reaching approximately 1x net debt to adjusted EBITDA by calendar year-end 2027 while maintaining our base dividend.”
Helmerich & Payne | 222 N Detroit Ave. | Suite 1100
Tulsa, OK 74120 | 918.588.5190 | helmerichpayne.com
Page 2
News Release
November 18, 2026
About Helmerich & Payne, Inc.
Founded in 1920, Helmerich & Payne, Inc. (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. For more information, see H&P online at www.hpinc.com
Forward-Looking Statements
This release includes “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, and such statements are based on current expectations and assumptions that are subject to risks and uncertainties. All statements other than statements of historical facts included in this release, including, without limitation, previously issued guidance and preliminary expected results for the fourth quarter of fiscal 2026, the Company’s business strategy, future financial position, operations outlook, future cash flow, debt reduction plans and leverage targets, dividend amounts and timing, customer contracting activity, and the impact of geopolitical developments and uncertainties, including the conflict in the Middle East, are forward-looking statements. For information regarding risks and uncertainties associated with the Company’s business, please refer to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections and other disclosures in the Company’s SEC filings, including but not limited to its annual report on Form 10‑K and quarterly reports on Form 10‑Q. As a result of these factors, Helmerich & Payne, Inc.’s actual results may differ materially from those indicated or implied by such forward-looking statements. Investors are cautioned not to put undue reliance on such statements. We undertake no duty to publicly update or revise any forward-looking statements, whether as a result of new information, changes in internal estimates, expectations or otherwise, except as required under applicable securities laws.
Helmerich & Payne uses its Investor Relations website as a channel of distribution for material company information. Such information is routinely posted and accessible on its Investor Relations website at www.hpinc.com. Information on our website is not part of this release.
(1) Direct margin, which is considered a non-GAAP metric, is defined as operating revenues (less reimbursements) less direct operating expenses (less reimbursements) and is included as a supplemental disclosure. We believe it is useful in assessing and understanding our current operational performance, especially in making comparisons over time. Previously issued direct margin guidance for the fourth quarter of fiscal 2026 is provided on a non-GAAP basis only because certain information necessary to calculate the most comparable GAAP measure is unavailable due to the uncertainty and inherent difficulty of estimating the financial statement impact of certain items. Therefore, as a result of the uncertainty and variability of the nature and amount of future items and adjustments, which could be significant, we are unable to provide a reconciliation of our previously issued direct margin guidance to the most comparable GAAP measure without unreasonable effort.
(2) The previously issued guidance and preliminary results set forth above do not represent a complete statement of operational results or financial position for or as of the fiscal quarter and fiscal year ended September 30, 2026. Complete results will be included in our Annual Report on Form 10-K. The estimates are based on information available as of the date of this release and remain subject to completion of the Company’s financial closing procedures. The Company’s independent registered public accounting firm has not audited, reviewed, compiled or performed any procedures with respect to this preliminary financial data. Investors should not place undue reliance on these preliminary financial results. Actual results may differ materially from these estimates.
IR Contact: Kris Nicol Vice President, FP&A & Investor Relations
investor.relations@hpinc.com
Media Contact: Stephanie Higgins
Page 3
News Release
November 18, 2026
Vice President, Global Communications and Community Relations
media@hpinc.com