Drilling contractor Helmerich and Payne (H&P) reported a consolidated net loss of $57 million, or $0.58 per share, for its fiscal fourth quarter ended September 30, 2025.
This figure includes non-recurring charges of $56 million. When adjusted for these and other one-time items, the adjusted net loss was $1 million, or $0.01 per share.
For the fourth quarter, the North America solutions (NAS) segment generated operating income of $118 million, down from $158 million in the prior quarter. Direct margins for the segment were $242 million, maintaining a margin per day of $18,620.
The international solutions segment posted an operating loss of $75 million, an improvement from the $167 million loss in the previous quarter which included a significant goodwill impairment. The offshore solutions segment contributed an operating income of $20 million.
CEO John Lindsay commented, “Fiscal 2025 was a historic year for H&P, as we grew our global drilling footprint to over 200 operating rigs.”
Looking ahead to fiscal year 2026, H&P provided positive guidance. The company has received notifications for seven rigs to resume operations in Saudi Arabia during the first half of 2026, bringing the total rig count in the country to 24. Gross capital expenditures for fiscal 2026 are expected to be between $280 million and $320 million.
The company also highlighted its debt reduction progress, having repaid $210 million of its $400 million term loan by the end of October, ahead of schedule. H&P expects to fully repay the loan by the end of the third fiscal quarter of 2026.
