HP earnings analysis
What we found in HP's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Helmerich & Payne, Inc. reported Q2 FY26 results with revenue of $932 million and an EPS of -$0.38, significantly missing estimates. The North America Solutions segment experienced a 13.7% revenue decline, while Offshore Solutions saw a 15% increase, reflecting mixed segment performance amidst ongoing impairments and geopolitical headwinds.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Decline vs. Prior Year
- Revenue decreased by 11.2% from $1.05 billion in Q2 FY25 to $932 million in Q2 FY26.
- Significant EPS Miss
- Earnings per share was reported at -$0.38, missing the expected -$0.05 by 660%.
- Increased International Solutions Revenue
- Revenue from International Solutions increased by 53.2% to $452.6 million for the six months ending March 31, 2026.
- Impairment Charges
- Recorded a $26.1 million impairment charge for assets classified as held-for-sale, further impacting profits.
- Cash Balance
- As of March 31, 2026, cash and cash equivalents were $177.2 million, down from $650.6 million since September 30, 2025.
- Repayment of Term Loan
- Fully repaid $140 million balance of the Term Loan Credit Agreement in April 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Declining North America Revenue
- North America Solutions revenue decreased by 13.7% to $517.2 million compared to $599.7 million in Q2 FY25.
- Heightened Geopolitical Risks
- Ongoing geopolitical tensions are expected to continue affecting operations, particularly in the International Solutions segment.
- High Impairment Charges
- Impacts from recorded impairment charges amounted to $129.2 million for the first six months of FY26.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.38
- Segment
- North America Solutions
- Segment
- International Solutions
- Segment
- Offshore Solutions
What they said about what is next.
Outlook deferred to earnings press release / call.
The filing reads worse than the one before it.
What came before.
- 10-Q · February 5, 2026
- Helmerich & Payne, Inc. reported a decline in earnings in Q1 2026, with a net loss of $96.7 million or $(-0.98) per share compared to a profit of $54.8 million or $0.54 per share the year prior. Revenues increased,…
- 10-K · November 21, 2025
- Helmerich & Payne, Inc. reported a challenging fiscal year 2025 marked by a loss of $163.7 million and a drop in revenues compared to the previous year, mainly due to the impact of global oil price volatility and…
- 10-Q · August 11, 2025
- Helmerich & Payne reported revenues of $1.04 billion for Q3 FY25, a significant increase from $688 million in Q2 FY24, despite a loss of $162.8 million compared to a profit of $88.7 million a year prior. The company has…
- 10-Q · May 9, 2025
- Helmerich & Payne, Inc. reported financial results for Q2 FY2025, showing a significant revenue increase driven by the recent acquisition of KCA Deutag. However, operating income faced substantial pressure leading to a…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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