Helmerich & Payne said its fiscal fourth quarter was tracking toward the top end of guidance across all three of its main businesses, with direct margins in North America solutions, international solutions and offshore solutions all expected to land at or near the high end of their prior ranges.
The strongest figure in the update came from international solutions, where the company said direct margins are expected to be around $45 million for the quarter.
On activity, North America solutions is expected to post an average rig count near the high end of guidance. International solutions is expected to come in around the midpoint of its range, while offshore solutions rig count and management contracts are also expected to land near the midpoint.
The company said all other financial guidance from its Aug. 5 earnings release remains unchanged.
Looking ahead to fiscal 2027, management said it expects stronger overall direct margins than in 2026, citing customer discussions and contracting activity across its global portfolio.
The company also said it remains committed to reaching roughly 1x net debt to adjusted EBITDA by calendar year-end 2027 while maintaining its base dividend.
In North America, management said activity should stay robust, with continued strong commercial trends. In international markets, the company expects Latin America growth to be offset in the near term by lower activity in the Middle East. As a result of these announcements, the company's shares have moved -1.3% on the market, and are now trading at a price of $39.61. Check out the company's full 8-K submission here.
